1420 W 2nd Ave
Spokane, WA 99201
Tiki Lodge Spokane · Hospitality Property For Sale
·
20,890 SF
PROPERTY FACTS
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.86 AC |
| Building Size | 20,890 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2016 |
| Parking Ratio | 1.45/1,000 SF |
| Corridor | Exterior |
| Zoning | DTG |
AMENITIES
- Restaurant
- Meeting Event Space
ABOUT 1420 W 2ND AVE , SPOKANE, WA 99201
Motel close to downtown Spokane. Concrete block construction. 54 rooms. 54 parking spots. Recent extensive upgrades. Gross Sales are up about $130,000 for 2016 on track for $490,000. Little competition at the Tiki's price point. Two ways to purchase: Buildings and personal property subject to a long term, 34 year land lease for $895,000 which is 1.8X Gross Room Sales; Or, buy it with the land for $1,695,000 which is 3.5X Gross Room Sales. On W 2nd Ave and S Walnut St.
PROPERTY TAXES
| Parcel Number | 25241.1308 | Improvements Assessment | $996,700 |
| Land Assessment | $0 | Total Assessment | $996,700 |
