1862 W State Route 20 - Hospitality FOR SALE


Sedro-Woolley, WA 98284
$1,999,999 USD
206-605-7556
1862 W State Route 20, Sedro-Woolley, WA for Sale
$1,999,999 USD
Hospitality - FOR SALE
1/37
null | 25% Cap Rate

1862 W State Route 20
Sedro-Woolley, WA 98284


OVERVIEW

Don't miss this chance to take advantage of a vacant motel waiting for the next owners vision. The offering presents the opportunity to acquire a 48-room private motel at an asking price of $1,999,999—approximately $41,667 per room—in SedroWoolley, Washington. Positioned directly along State Route 20, the property occupies a strategic location between the Interstate 5 corridor and the North Cascades. The site is within approximately 1/2 mile of PeaceHealth United General Medical Center and near downtown Sedro-Woolley, regional employers, Skagit Valley attractions and year-round outdoor recreation. The investment thesis is centered on acquiring a substantial existing room count at a comparatively low per-room basis, completing a renovation and repositioning the property for a diversified mix of tourists, medical visitors, traveling professionals, contractors, business travelers and regional guests. The Sedro-Woolley motel has been pre-approved for conversion by Wyndham (Dazzler by Wyndham), Red Roof Inn, and Sonesta Hotels Americas Best Value Inn , giving investors the flexibility to choose from three nationally recognized brands. The motel is modeled at a $115 average daily rate, 65% stabilized occupancy and 98% room availability. These assumptions produce approximately $1.28 million in annual room revenue and approximately $449,200 in projected net operating income, before debt service, depreciation and income taxes.

FOR SALE DETAILS

PRICE

$1,999,999 USD

PRICE/SF

$51 USD /SF

# OF ROOMS

47

PRICE/ROOM

$42,553 {currency}

CAP RATE

25%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Skagit Motel

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1950

PARKING SPACES

59

LAND DETAILS

LAND ACRES

1.52 AC

LAND SF

66,211 SF

ZONING

Mixed Commercial

APN/PARCEL ID

P37710

ASK ABOUT THIS PROPERTY

Indy BasraEvery Door Real EstateMore Info
206-605-7556

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Indy BasraEvery Door Real EstateMore Info
206-605-7556

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.