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22318-22330 84th Ave S
Kent, WA 98032
Ramada Inn & Income Property · Hospitality Property For Sale
·
48,224 SF
PROPERTY FACTS
AMENITIES
- Business Center
- Fitness Center
- Room Service
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Hot Tub
ABOUT 22318-22330 84TH AVE S , KENT, WA 98032
Price reduced to $11.8 Mil. from $12.7 Mil. Purchase price includes the Restaurant property generates $117,000 (Rent + Restaurant Rebate) per year which is about valued at $1.57 million with 7.45 % Cap Rate. Hotel and Restaurant Building sit on approx. 4 acres of the commercial lot. Since this hotel has 125 rooms which have lots of potential for sales increment with the right marketing and management. Since Oct 2018, Major PIP renovation has been ongoing as per PIP. Offering price includes the restaurant property leased to a well-known family restaurant in town. See attached 2019 P & L Proforma.
PROPERTY TAXES
| Parcel Number | 775780-0010 | Improvements Assessment | $8,533,700 |
| Land Assessment | $4,866,800 | Total Assessment | $13,400,500 |
PROPERTY TAXES
