61200 S Highway 97 - Hospitality FOR SALE


Bend, OR 97702- Old Farm District
$6,900,000 USD
818-851-3304
61200 S Highway 97, Bend, OR for Sale
$6,900,000 USD
Hospitality - FOR SALE
1/6
null | 9.85% Cap Rate

61200 S Highway 97
Bend, OR 97702
Old Farm District


HIGHLIGHTS

  • 65 Units
  • 3-Story Interior Corridor Hotel
  • Major $1,000,000 Price Reduction | Highly Motivated Seller
  • T12 Revenue: $2,033,108 | Up 11% YTD
  • Located in a Fast-growing Year-Round Leisure Destination | ADR Over $120
  • Fully Renovated in 2022, Minimal Transfer PIP Expected

OVERVIEW

The La Quinta Inn is a 65 Unit, 3-Story Interior Corridor Hotel in Bend, Oregon. The hotel boosts an Average Daily Rate over $127 and is highly profitable. Bend is a fast-growing year round leisure destination drawing visitors for a wide range of recreational activities including snow sports, hiking, fishing, and golf. The hotel has an excellent location along Highway 97, across the street from a Walmart Supercenter, Nike Store, and the Bend Factory Outlets. The La Quinta provides convenient access to Bend's numerous recreational attractions, breweries, and restaurants. The hotel features a complimentary hot breakfast, gym, and indoor pool and spa. The property completed an extensive renovation in 2022 and a minimal transfer PIP is expected for the new owner. Currently owned by a first-time absentee owner and third party managed.

FOR SALE DETAILS

PRICE

$6,900,000 USD

PRICE/SF

$202 USD /SF

# OF ROOMS

65

PRICE/ROOM

$106,154 {currency}

CAP RATE

9.85%

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

La Quinta Inn by Wyndham Bend

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1990

PARKING SPACES

57

LAND DETAILS

LAND ACRES

1.53 AC

LAND SF

66,647 SF

ZONING

CH

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Steve PostAmber Hotel CompanyMore Info
818-851-3304

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Steve PostAmber Hotel CompanyMore Info
818-851-3304

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