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Offering Memorandum Exclusive Listing MAGNUSON HOTEL 43 W. Fry Blvd., Sierra Vista, AZ 85635 Dinesh Dan Rama Jigar "Jay" Desai T 602.648.2715 T 602.648.2700 C 602.478.9636 C 520.664.4091 [email protected] [email protected] NewGenAdv.com MAGNUSON HOTEL 43 W. Fry Blvd., Sierra Vista, AZ 85635 Table of Contents CONTENTS PROPERTY INFORMATION 3 FINANCIAL ANALYSIS 6 LOCATION INFORMATION 9 PROPERTY IMPRESSIONS 12 SALE COMPARABLES 18 ADVISOR BIOS 23 CONFIDENTIALITY & DISCLAIMER All materials and information received or derived from NewGen Advisory its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. Neither NewGen Advisory its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. NewGen Advisory will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE. Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. NewGen Advisory makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. NewGen Advisory does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by NewGen Advisory in compliance with all applicable fair housing and equal opportunity laws. Dinesh Dan Rama Jigar "Jay" Desai T 602.648.2715 T 602.648.2700 C 602.478.9636 C 520.664.4091 [email protected] [email protected] NewGenAdv.com 2 PROPERTY INFORMATION Dinesh Dan Rama Jigar "Jay" Desai T 602.648.2715 T 602.648.2700 C 602.478.9636 C 520.664.4091 [email protected] [email protected] NewGenAdv.com MAGNUSON HOTEL 43 W. Fry Blvd., Sierra Vista, AZ 85635 Executive Summary OFFERING SUMMARY PROPERTY & LOCATION OVERVIEW Sale Price: $699,000 NewGen Advisory is pleased to present for sale the exclusive listing for the Magnuson Hotel located in Sierra Cap Rate: 12.01% Vista, Arizona. The Magnuson Hotel is a unique fee simple investment property that features 25 guest rooms located NOI: $83,947 less than 1 mile from the 70,000 acre Fort Huachuca Military Base. The hotel is located in the heart of Arizona Lot Size: +/- 1.47 Acres Wine Country and is a short drive to several leisure outdoor demand generators including; Coronado National Memorial, San Pedro Riparian National Conservation Area, Year Built: 1965 and the Kartchner Caverns. The Magnuson Hotel also features a very large 3 bedroom / 3 bathroom on-site Building Size: +/- 8,133 managers quarters consisting of 1,500 sqft. Renovated: 2018 SALE HIGHLIGHTS - Conversion Opportunity for Multi-Family Zoning: GC Commercial - 4.5 Stars on Trip Advisor, on 8.6 Booking.com Price / SF: $85.95 - Very Large Manager's Quarter's (3 bedroom / 3 bathroom) - Large Rooms and Some Units Offer Full Kitchenettes Dinesh Dan Rama Jigar "Jay" Desai T 602.648.2715 T 602.648.2700 C 602.478.9636 C 520.664.4091 [email protected] [email protected] NewGenAdv.com 4 MAGNUSON HOTEL 43 W. Fry Blvd., Sierra Vista, AZ 85635 Property Details SALE PRICE $699,000 UTILITIES & AMENITIES HOTEL SALE OVERVIEW Electric: Sulphur Springs Valley Electric Water: Liberty Water Brand Magnuson Hotel Gas: Southwest Gas Franchise Of Magnuson Hotels Waste: AZ Hauling & Disposal Number Of Rooms 25 Cable/Internet: Cox Communications Price Per Key $27,960 Phone: Cox Communications Revenue Per Room $6,994.40 Washer Specifications: 1 30lb Unimac Adjusted NOI $83,947 Dryer Specifications: 1 30lb Huebsch Cap Rate 12.01% Door Locks: Electornic Key Card Cash On Cash Return 22.66% ROOM MIX BUILDING INFORMATION King Room 10 Apn # 106-67-009 Queen Room 7 Year Opened 1965 Two Queen Bed Suite With Kitchenette 1 Building Size +/- 8,133 SF Two Double Bed Room 6 Roof Flat Three Double Bed Suite With Kitchenette 1 Construction Type Wood Frame TOTAL ROOMS 25 Number Of Floors 1 Number Of Rooms 25 Free Standing Yes CAPITAL EXPENDITURES OVERVIEW Zoning GC Commercial Paint - Exterior/Interior $15,000 Parking Surface Asphalt LED Lighting Conversion & Security Cameras $5,500 Manager's Quarters Yes, 3 Bedroom/3 Bathroom (1,500 sqft) Casegoods Replacement & Office Lobby Reno $9,500 Bedding $5,000 Landscaping $2,000 Full Property Water Softener System $7,000 Walkway Resurface $6,000 Dinesh Dan Rama Jigar "Jay" Desai T 602.648.2715 T 602.648.2700 C 602.478.9636 C 520.664.4091 [email protected] [email protected] NewGenAdv.com 5 FINANCIAL ANALYSIS Dinesh Dan Rama Jigar "Jay" Desai T 602.648.2715 T 602.648.2700 C 602.478.9636 C 520.664.4091 [email protected] [email protected] NewGenAdv.com MAGNUSON HOTEL 43 W. Fry Blvd., Sierra Vista, AZ 85635 Income & Expenses INCOME SUMMARY % OF TOTAL Room Revenue $174,860 100.0 % Gross Income $174,860 EXPENSE SUMMARY % OF REVENUE Hotel Supplies $5,750 3.3 % Commissions $3,589 2.1 % Office Expense $1,390 0.8 % Dues and Subscriptions $1,261 0.7 % Advertising $7,122 4.1 % Merchant Fees $5,161 3.0 % Web and Computer Expense $1,007 0.6 % Property Tax $7,425 4.2 % Sales Tax $15,347 8.8 % Bank Service Charges $532 0.3 % Property Insurance $4,075 2.3 % Payroll Taxes $1,021 0.6 % Accounting Fees $2,305 1.3 % Telephone and Internet $10,385 5.9 % Water $1,554 0.9 % Gas and Electric $19,448 11.1 % Waste $3,533 2.0 % Gross Expenses $90,912 Net Operating Income $83,947 Dinesh Dan Rama Jigar "Jay" Desai T 602.648.2715 T 602.648.2700 C 602.478.9636 C 520.664.4091 [email protected] [email protected] NewGenAdv.com 7 MAGNUSON HOTEL 43 W. Fry Blvd., Sierra Vista, AZ 85635 Financial Summary PROPOSED FINANCING Purchase Price $699,000 Down Payment (20%) $139,800.00 Senior Loan (80%) $559,200.00 Interest Rate 5.5 Amortization (yrs) 25 Monthly Debt Payment $3,454 OPERATING SUMMARY Total Rooms 25 Occupancy % 57.5% ADR $40 RevPAR $23 Gross Income $174,860 Operating Expenses $90,912 Net Operating Income $83,947 Debt Service $41,451 Debt Coverage Ratio 2.03 INVESTMENT SUMMARY Pre-Tax Cash Flow $42,496 Cash-on-Cash Return (yr 1) 31.13 % CAP Rate 12.0% Price per Room $27,960 Dinesh Dan Rama Jigar "Jay" Desai T 602.648.2715 T 602.648.2700 C 602.478.9636 C 520.664.4091 [email protected] [email protected] NewGenAdv.com 8 LOCATION INFORMATION Dinesh Dan Rama Jigar "Jay" Desai T 602.648.2715 T 602.648.2700 C 602.478.9636 C 520.664.4091 [email protected] [email protected] NewGenAdv.com MAGNUSON HOTEL 43 W. Fry Blvd., Sierra Vista, AZ 85635 Location Summary MOUNTAIN VIEWS FORT HUACHUCA With picturesque mountain views in all directions and a temperate Established March 3, 1877 - Fort Huachuca is located 15 miles four-season climate, Sierra Vista beckons visitors with clear skies, north of the Mexican border, and at the northern end of fascinating history, and world-class birding. Surrounded the Huachuca Mountains - next to Sierra Vista. in the 2010 census, by towering 10,000 foot mountains and known as the "Humming Fort Huachuca had a population of about 6,500 active duty Bird Capital of the U.S.," Sierra Vista is primed for outdoor soldiers, 7.400 military family members and 5,000 civilian exploration. From its early days as a community growing under the employees. During weekday work hours, Fort Huachuca has over protective wing of neighboring Fort Huachuca during the Apache 18000 people on post - making it one of the busiest Army Wars, Sierra Vista has blossomed into the recreational and cultural installations in the country.
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