321 N Johnson St - Hospitality FOR SALE


Kennewick, WA 99336
$5,900,000 USD
909-456-3481
321 N Johnson St, Kennewick, WA for Sale
$5,900,000 USD
Hospitality - FOR SALE
1/5
null | 9.1% Cap Rate

321 N Johnson St
Kennewick, WA 99336


HIGHLIGHTS

  • 9.2% Cap Rate
  • All Guest Rooms Offer Over 500 Square Feet of Space, and All Suites Include Fully Equipped Kitchenettes
  • Recent CapEx Completed, No PIP Required
  • The Property Was Approved for a Days Inn Conversion and Has Potential for Conversion to Other Franchises
  • The Manager’s Office, Located on the Property, Includes a Full Kitchenette and Bathroom, Making It Ideal for an On-Site Owner or Converted to a Guest
  • Ideally Located Off of U.S Route 395

OVERVIEW

Joel Deis // Broker of Record // License WA 25469 Property Tours Do not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers. Marcus & Millichap has been chosen to exclusively market for sale the Kennewick Inn & Suites Tri Cities, a newly renovated three-story limited service hotel located in Kennewick, Washington. The hotel's 47 guest rooms, each 500 square feet, include a flat-screen TV, work desk, refrigerator, microwave, and coffee maker. All suites include a fully equipped kitchenette and dining area. Hotel amenities include complimentary breakfast, guest laundry facilities, and vending machines. The Kennewick Inn & Suites Tri Cities represents the opportunity to acquire a three-story hotel in a stable market near several demand drivers. Our Pro Forma analysis assumes continued modest growth supported by the increasing population and demand growth in the Tri-Cities Region. The property features a manager's office complete with a full kitchenette and bathroom, ideal for an on-site owner or converted to a guest room. Additionally, the property is approved for conversion to a Days Inn and offers potential for other franchise conversions.

FOR SALE DETAILS

PRICE

$5,900,000 USD

PRICE/SF

$217 USD /SF

# OF ROOMS

46

PRICE/ROOM

$128,261 {currency}

CAP RATE

9.1%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kennewick Inn & Suites Tri Cities

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1977

PARKING SPACES

44

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

CC

APN/PARCEL ID

134994090000001

ASK ABOUT THIS PROPERTY

Gordon AllredMarcus & MillichapMore Info
909-456-3481

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Gordon AllredMarcus & MillichapMore Info
909-456-3481

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