321 N Johnson St - Hospitality FOR SALE


Kennewick, WA 99336
$5,750,000 USD
253-326-7297
321 N Johnson St, Kennewick, WA for Sale
$5,750,000 USD
Hospitality - FOR SALE
1/6
null | Request Cap Rate

321 N Johnson St
Kennewick, WA 99336


HIGHLIGHTS

  • 9.4% Cap Rate
  • 20% Cash-on-Cash Return
  • All Guest Rooms Offer Over 500 Square Feet of Space, and All Suites Include Fully Equipped Kitchenettes
  • Recent CapEx Completed, No PIP Required
  • This hotel is perfectly positioned for an apartment/housing conversion, with an existing layout that supports efficient redevelopment.
  • 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

OVERVIEW

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. This hotel is perfectly positioned for an apartment conversion, with an existing layout that supports efficient redevelopment. 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

$5,750,000 USD

PRICE/SF

$212 USD /SF

# OF ROOMS

47

PRICE/ROOM

$122,340 {currency}

CAP RATE

Request Cap Rate

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

50

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

CC

APN/PARCEL ID

134994090000001

ASK ABOUT THIS PROPERTY

Jazz BainsBains & CompanyMore Info
253-326-7297

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Jazz BainsBains & CompanyMore Info
253-326-7297

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