Off Market
|
Located:
Sierra Vista,
Arizona
|
|
Offering Price:
$6,000,000.00
|
|
Net Operating Income:
$0.00
|
|
Financing:
LEASE PURCHASE OPTION
|
|
Room Revenue:
$0.00
|
|
Renovated:
n/a
|
|
Number of Units:
151
|
|
Land Area:
4.73ac
|
|
Built:
1986
|
Summary
The subject is an existing 151-room (3 rooms are used for storage) full service, 95,105 SF hotel being purchased for purposes of adaptive re-use. The buyer plans to rehab and convert the existing hotel use to a 148-unit/suite assisted living facility, to be licensed for a total of 174 beds, to consist of 52 semi-private beds in 26 suites, and 122 private beds in 126 suites. The semi-private beds are to be marketed to qualifying residents through the Arizona Long Term Care System (ALTCS) in Cochise County, and the private beds (suites) will be made available for qualifying residents through the Veterans Administration Aid & Attendance (VA A&A) program. The improvements were constructed in 1986 and are to be renovated after lease purchase. The site area is 4.73 acres or 205,995 square feet.
Highlights
The Windemere Hotel and Conference Center is located in Sierra Vista, AZ. This full-service hotel has been converted into a Residential Behavioral Health facility for veterans.