33221 State Route 20 - Hospitality FOR SALE


Oak Harbor, WA 98277
$26,000,000 USD
503-530-1316
33221 State Route 20, Oak Harbor, WA for Sale
$26,000,000 USD
Hospitality - FOR SALE
1/1
null | 7.81% Cap Rate

33221 State Route 20
Oak Harbor, WA 98277


HIGHLIGHTS

  • Franchised Portfolio On Whidbey Island
  • Turnkey Hotels With Recent PIP Updates
  • NAS Whidbey & Year-Round Demand Drivers
  • Highway Visibility & Frontage On Main Road
  • Island Accessible By Bridge & Ferries
  • Adjacent Additional Land Available

OVERVIEW

Franchise Portfolio With Proximity To NAS Whidbey The Candlewood Suites Oak Harbor By IHG and the Best Western Plus Oak Harbor Hotel & Conference Center comprise a 160-key, dual-branded, interior corridor, select-service hotel portfolio situated on ~3.91 acres of fee simple land in Oak Harbor, Washington. The two 4-story buildings total ~96,000 square feet and have recently completed substantial Property Improvement Plan (PIP) updates, offering turnkey operations and economies of scale. Guest room mix includes extended stay suites with full kitchens, queen singles and doubles, and king singles. Amenities across both hotels include complimentary breakfast, meeting and event space, fitness centers, business centers, guest laundry, outdoor patios with barbecues, and ample guest parking. The Best Western Plus property features an outdoor heated pool and hot tub. Both hotels benefit from national franchise affiliation with IHG® and Best Western®, offering access to global booking platforms and loyalty programs that support consistent occupancy. Strategically located near NAS Whidbey Island and fronting the main highway, the portfolio serves business, military, government, and leisure travelers year-round. An adjacent ~1.17-acre parcel is also available for purchase at an additional cost (not included in the portfolio offering). The site offers future development flexibility, subject to buyer due diligence. This portfolio represents a rare opportunity to acquire updated, branded assets with established demand generators in a high-barrier-to-entry Pacific Northwest coastal market. Oak Harbor, Washington, on Whidbey Island, is a welcoming coastal town that combines small-town charm with stunning natural surroundings. Its walkable downtown features local restaurants, coffee shops, boutiques, and waterfront parks that create a relaxed, community-focused atmosphere. Visitors are drawn to the area for its access to outdoor activities like hiking, biking, boating, fishing, kayaking, and whale watching. The town hosts seasonal markets and events that reflect its maritime roots and friendly, laid-back vibe. Naval Air Station Whidbey Island adds year-round economic stability and cultural diversity, while easy access by ferry or scenic drive from Seattle makes Oak Harbor a well-connected base for exploring the broader Puget Sound region. Building size is approximate and all information is obtained from sources deemed reliable but subject to buyer verification. All property tours must be arranged through the broker. DO NOT CONTACT PROPERTY OR EMPLOYEES! Please Note: Buyer's Brokers will need to obtain a Buyer Paid Fee for this property. There is no Broker commission co-op. Please call with questions regarding this requirement.

FOR SALE DETAILS

PRICE

$26,000,000 USD

PRICE/SF

$270 USD /SF

# OF ROOMS

80

PRICE/ROOM

$325,000 {currency}

CAP RATE

7.81%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Candlewood Suites & Best Western Plus

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

2006

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.91 AC

LAND SF

170,320 SF

ZONING

OH

APN/PARCEL ID

R13335-480-4290

ASK ABOUT THIS PROPERTY

Joseph KennedyCrystal Investment PropertyMore Info
503-530-1316

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Joseph KennedyCrystal Investment PropertyMore Info
503-530-1316

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