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Kennewick Inn & Suites Tri Cities 321 N Johnson St 47 Room Hotel Kennewick, WA 99336 $5,750,000 ($122,340/Room)
INVESTMENT HIGHLIGHTS
- 9.4% Cap Rate
- All Guest Rooms Offer Over 500 Square Feet of Space, and All Suites Include Fully Equipped Kitchenettes
- The Property Was Approved for a Days Inn Conversion and Has Potential for Conversion to Other Franchises
- 20% Cash-on-Cash Return
- Recent CapEx Completed, No PIP Required
- The Manager’s Office, Located on the Property, Includes a Full Kitchenette and Bathroom, Making It Ideal for an On-Site Owner or Converted to a Guest
EXECUTIVE SUMMARY
Joel Deis // Broker of Record // License WA 25469
Property Tours
Do not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers.
Marcus & Millichap has been chosen to exclusively market for sale the Kennewick Inn & Suites Tri Cities, a newly renovated three-story limited service hotel located in Kennewick, Washington. The hotel's 47 guest rooms, each 500 square feet, include a flat-screen TV, work desk, refrigerator, microwave, and coffee maker. All suites include a fully equipped kitchenette and dining area. Hotel amenities include complimentary breakfast, guest laundry facilities, and vending machines.
The Kennewick Inn & Suites Tri Cities represents the opportunity to acquire a three-story hotel in a stable market near several demand drivers. Our Pro Forma analysis assumes continued modest growth supported by the increasing population and demand growth in the Tri-Cities Region.
The property features a manager's office complete with a full kitchenette and bathroom, ideal for an on-site owner or converted to a guest room. Additionally, the property is approved for conversion to a Days Inn and offers potential for other franchise conversions.
Property Tours
Do not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers.
Marcus & Millichap has been chosen to exclusively market for sale the Kennewick Inn & Suites Tri Cities, a newly renovated three-story limited service hotel located in Kennewick, Washington. The hotel's 47 guest rooms, each 500 square feet, include a flat-screen TV, work desk, refrigerator, microwave, and coffee maker. All suites include a fully equipped kitchenette and dining area. Hotel amenities include complimentary breakfast, guest laundry facilities, and vending machines.
The Kennewick Inn & Suites Tri Cities represents the opportunity to acquire a three-story hotel in a stable market near several demand drivers. Our Pro Forma analysis assumes continued modest growth supported by the increasing population and demand growth in the Tri-Cities Region.
The property features a manager's office complete with a full kitchenette and bathroom, ideal for an on-site owner or converted to a guest room. Additionally, the property is approved for conversion to a Days Inn and offers potential for other franchise conversions.
PROPERTY FACTS
| Price | $5,750,000 | Building Size | 27,170 SF |
| Price Per Room | $122,340 | No. Rooms | 47 |
| Sale Type | Investment | No. Stories | 3 |
| Property Type | Hospitality | Year Built/Renovated | 1977/2012 |
| Property Subtype | Hotel | Parking Ratio | 1.66/1,000 SF |
| Building Class | C | Corridor | Interior |
| Lot Size | 0.95 AC | ||
| Zoning | CC | ||
| Price | $5,750,000 |
| Price Per Room | $122,340 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.95 AC |
| Building Size | 27,170 SF |
| No. Rooms | 47 |
| No. Stories | 3 |
| Year Built/Renovated | 1977/2012 |
| Parking Ratio | 1.66/1,000 SF |
| Corridor | Interior |
| Zoning | CC |
AMENITIES
- Pool
- High Speed Internet Access
- Patio
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 47 | $109.00 | - |
1 1
Walk Score®
Very Walkable (80)
PROPERTY TAXES
| Parcel Number | 134994090000001 | Improvements Assessment | $2,983,580 |
| Land Assessment | $288,420 | Total Assessment | $3,272,000 |
PROPERTY TAXES
Parcel Number
134994090000001
Land Assessment
$288,420
Improvements Assessment
$2,983,580
Total Assessment
$3,272,000
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Kennewick Inn & Suites Tri Cities | 321 N Johnson St
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