ORION Handles Motel Conversion Transaction for $3.3 Million
PHOENIX, Arizona – ORION Investment Real Estate recently sold the 66-unit short-stay motel, formerly known as Best Inn Suites, located on Van Buren Street and 36th Street for $3.3 million ($50,000/unit, or $93/SF). The buyer’s plan to convert the motel to apartments is already underway. The motel was 97% occupied (daily, weekly and monthly terms) […]
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