Overview

Description

Jigar "Jay" Desai and NewGen Advisory is proud to present the Econo Lodge University located in Tucson, Arizona. Boasting 50 guest rooms, along with two additional manager's apartments that can be repurposed for guests, this hotel offers a turn-key investment opportunity with strong returns, listed under replacement cost.

Nestled in the heart of Tucson, this property is conveniently located near downtown and the University of Arizona. Whether you're an owner/operator or an alternative use investor seeking to repurpose the property for a more productive use, this is an ideal opportunity. The Econo Lodge can continue to operate as a motel or be converted into apartments, affordable housing, or a non-profit shelter to alleviate Tucson's severe housing shortage. The City fully supports such conversion projects, making this property an excellent investment option.

The Econo Lodge University is strategically located within a few blocks from the University of Arizona and Downtown Tucson. This location offers various attractions, all within walking distance such as Historic 4th Avenue, Main Gate Square, and U of A Football/Basketball Stadium. This prime location provides not only ease of access from Interstate-10, but also provides opportunities for those individuals staying there to be entertained.

Highlights

• Prime location near University of Arizona, Pima Community College downtown campus and Downtown Tucson
• Zero to minimal PIP
• Perfect opportunity for either hotel owner/operator, affordable housing/non-profit organization, or student housing
• Well maintained with pride of ownership
• Located in an Opportunity Zone

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