12800 N Saguaro Boulevard, Fountain Hills, AZ 85268 - MLS #5905710

images$7,645,000 images******** Beds

images******** Bath images67,953 sqft images2005

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Description

Sperry Commercial is pleased to present for sale the well-located and impeccably well-maintained LakeShore Hotel & Suites, a 104 room full service hotel located in the heart of Fountain Hills, AZ. Originally built as a Holiday Inn and converted to a Lexington Hotel in January, 2014, the property is presently named Lakeshore Hotel & Suites and is unencumbered by any franchise agreements. Listed at a price of $8,500,000, with an existing Credit Union loan of +/-$4,500,000. This loan may be paid off at close of escrow subject to a small prepayment penalty (see Listing Broker for details regarding this financing). *Minimal Competition in Area *Originally Built to Holiday Inn Specifications in 2005 *Not Burdened by Current Franchise Agreement *Situated On 3 Acres of Prime Downtown Land

Property Features
Building Type: Commercial; Other (See Remarks)
Business Type: Restaurant; Other; See Remarks
Stories: 3 - 4 Stories
Construction: Other
Roofing: Other
Floors: Other
Ceiling Height: 8.1 Feet to 10 Feet; 10.1 Feet to 12 Feet
Heating: Other; See Remarks
Cooling: Other; See Remarks
Loading Facilities: Other (See Remarks)
Interior Features: Other (See Remarks)
Fencing: Other; See Remarks
Parking Features: Other
Electric: Other (See Remarks)
Gas: Other (See Remarks)
Water Source: Other; See Remarks
Sewer: Other
New Financing: Other (See Remarks)
Lockbox Type: None
Source of Fincl Data: Owner; Accountant
Existing 1st Loan: Other (See Rmks)
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
Environmental: Other (See Remarks)
Contract Info
Current Price: $7,645,000
Sold Price: $7,645,000
Status: Closed
List Date: 2019-03-04
Ownership: Other (See Remarks)
Location Tax Legal
Map Code/Grid: L41
House Number: 12800
Compass: N
Street Name: Saguaro
St Suffix: Boulevard
City/Town Code: Fountain Hills
State/Province: AZ
Zip Code: 85268
County Code: Maricopa
Subdivision: FOUNTAIN HILLS ARIZONA FP NO 208 BLK 7 REPLAT
Assessor Number: 176-25-560
Tax Year: 2018
General Property Description
Ttl Apx SqFt Bldg: 67953
# of Buildings: 2
Year Built: 2005
Uncvrd Parking Spcs: 100
Zoning: C-2
Remarks Misc
Directions: Lakeshore Hotel & Suites is located approximately 25 miles northeast of Central Phoenix, 19 miles northeast of Old Town Scottsdale, and 10 miles due east of Shea Blvd. and the Loop 101 Freeway.
Geo Lat: 33.602415
Geo Lon: -111.716627
Status Change Info
Off Market Date: 2019-08-19
Under Contract Date: 2019-05-10
Close of Escrow Date: 2019-08-15
Sold Price: $7,645,000
Legal Info
Township: 3N
Range: 6E
Section: 14
Lot Number: 4
Sold Info
Loan Type: Conventional
Payment Type: Other
Clsing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %