HomeTowne Studios Tacoma-Puyallup 2101 N Meridian 133 Room Hotel Puyallup, WA 98371 $10,250,000 ($77,068/Room) 11.43% Cap Rate

Extended Stay Hotel Near Year-Round State Fair Events - IN CONTRACT
**Pace-Morby-style offers will NOT be entertained.**
HomeTowne Studios Tacoma-Puyallup is a 133-key, economy-scale extended stay hotel located in Puyallup, Washington. The three-story, exterior-corridor property includes Queen Single, Queen Double, and ADA-accessible studio units. All studios include dining areas and kitchenettes with stovetops, refrigerators, and microwaves. Built in 1999 and renovated in 2015, the asset is encumbered by brand (may be deflagged for minor liquidated damages). Situated on ~3.93 acres with a ~43,164 sq.ft. building, the property offers flexibility to operate independently, rebrand, or reposition under favorable Multi-Family Tax Exemption (MFTE) zoning with minimal transition barriers.
The property is strategically positioned near key demand drivers in the Seattle–Tacoma metro. Major employers such as Boeing’s Frederickson facility, MultiCare Good Samaritan Hospital, and the Port of Tacoma support year-round business travel. Nearby educational institutions, including UW Tacoma, WSU Puyallup, and Pierce College, generate lodging demand from faculty, researchers, and visitors. The Washington State Fairgrounds draw over one million annual attendees, while Tacoma’s Museum District and waterfront contribute to sustained leisure and event-driven occupancy. Ongoing infrastructure and industrial development continue to fuel contract housing demand.
HomeTowne Studios Tacoma-Puyallup features an extended stay layout and brand-optional positioning in a high-demand regional market. The asset presents a clear operational value proposition with upside through refreshed management, targeted upgrades, and repositioning. Available individually or as part of a larger extended stay portfolio.
Puyallup combines small-town character with seamless access to the cultural and economic energy of Tacoma. Its historic downtown invites visitors to stroll through locally owned shops, rotating art displays, and seasonal markets that reflect a strong sense of place. The Washington State Fair & Events Center serves as a year-round hub for concerts, expos, and major festivals, drawing travelers from across the region. Just minutes away, Tacoma’s Museum of Glass features the West Coast’s largest active glass studio and anchors a vibrant waterfront arts district. Surrounded by rivers, forests, and stunning mountain views, the area offers an abundance of opportunities for hiking, skiing, biking, and fishing. Located just 35 minutes from Seattle, Puyallup is easily connected to nearby cities through scenic drives and well-traveled regional routes.
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. Offered in cooperation with Lifeline Equity Real Estate