38820 WA-706 - Hospitality FOR SALE


Ashford, WA 98304
$3,750,000 USD
503-530-1316
38820 WA-706, Ashford, WA for Sale
$3,750,000 USD
Hospitality - FOR SALE
1/7
null | 11.52% Cap Rate

38820 WA-706
Ashford, WA 98304


HIGHLIGHTS

  • Midscale | Limited-Service | 37 Keys
  • 11.52% Cap Rate, 22.89% ROI, & 4.39 GRM (Actuals) - **Pace-Morby-style offers will NOT be entertained.**
  • Seller Financing Available On Principal Of Loan Only - Pace Morby style financing offers will not be entertained.
  • At Year-Round Mt. Rainier National Park Gate | Highway Frontage In High-Traffic Corridor
  • Upside With Repositioning & Cosmetics | Potential Reconversion–Store/Café Space
  • Expansion Potential On Owned Acreage

OVERVIEW

Mixed Lodging Asset at Year-Round National Park Entrance - IN CONTRACT **Pace-Morby-style offers will NOT be entertained.** Gateway Inn at Mt. Rainier is a 37-key, midscale, limited-service property located in Ashford, Washington, directly outside the year-round Nisqually Entrance to Mount Rainier National Park. The hotel includes 14 standard and suite guest rooms, 15 standalone cabins with private bathrooms, and 8 RV sites with partial utility hookups. The ~2.7-acre, fee-simple site includes picnic tables, portable restroom facilities, and on-site owner/manager quarters for operational flexibility. There is also space available for approximately 10 tent camping sites, which are not included in the current key count. Originally built in 1935 and last renovated in 1986, the property has direct frontage along State Route 706. Former café, general store, and gift shop areas have been converted into lobby and room space, with high-visibility potential for reconversion to retail, food, or beverage use. Situated on the only west-side access route into Mount Rainier National Park, the property captures high traffic volumes and benefits from frequent gate wait times. The park welcomed over 1.5 million visitors in 2023, generating $75.4 million in spending in nearby communities. Regional demand is reinforced by year-round recreation across the Volcanoes Region, including hiking, skiing, and other outdoor activities that support consistent weekend and holiday occupancy. Pierce County recorded $1.47 billion in visitor spending in 2023, reflecting the strength of this drive-to market for both destination and regional travel. The area continues to benefit from recreation-driven development, including the White Pass Ski Resort expansion, which further extends lodging demand beyond peak summer months. The property's unbranded status allows for operational flexibility and offers clear upside through targeted upgrades, commercial reconversion, and future site expansion. 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! Selling Broker co-op (if available) contingent upon receipt and CIP approval of Buyer Registration in advance of receipt of the marketing package, financials, and presentation of offers. No co-op without CIP approval of Buyer Registration. State law prohibits CIP from offering a Broker co-op to any Broker not licensed in the state where the listed property is located. Please call with questions regarding this requirement.

FOR SALE DETAILS

PRICE

$3,750,000 USD

PRICE/SF

$281 USD /SF

# OF ROOMS

30

PRICE/ROOM

$125,000 {currency}

CAP RATE

11.52%

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gateway Inn at Mt. Rainier

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1924

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.7 AC

LAND SF

117,612 SF

ZONING

TC

APN/PARCEL ID

071533-4008

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 Notice.