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Siesta Motel 615 S Main St 19 Room Hotel Colfax, WA 99111 $1,490,000 ($78,421/Room) 6% Cap Rate
Executive Summary
Located on 0.2 acres in Colfax, WA, this 9,250 sq. ft. hotel offers 20 units, including 13 one-bed units, 5 two-bed units, 1 furnished apartment, and 1 unfurnished apartment. Built in 1949 with new flooring, the property also includes an office, laundry room and four storage closets. Its prime location is 30-minutes from Washington State University, the University of Idaho, and the regional airport, drawing steady demand year-round. From college football games and parent weekends to festivals and community events like the Lentil Festival, the area provides a constant flow of activity. With a long history of both short- and long-term tenants, this property is a reliable and versatile investment in a thriving college-town community. If you are looking to owner operate this property quickly turns into a cap rate of 10%!
Property Facts
| Price | $1,490,000 | Lot Size | 0.20 AC |
| Price Per Room | $78,421 | Building Size | 9,250 SF |
| Sale Type | Investment | No. Rooms | 19 |
| Cap Rate | 6% | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1949/2022 |
| Property Subtype | Hotel | Parking Ratio | 0.6/1,000 SF |
| Building Class | B | Corridor | Exterior |
| Zoning | Commercial General | ||
| Price | $1,490,000 |
| Price Per Room | $78,421 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 9,250 SF |
| No. Rooms | 19 |
| No. Stories | 2 |
| Year Built/Renovated | 1949/2022 |
| Parking Ratio | 0.6/1,000 SF |
| Corridor | Exterior |
| Zoning | Commercial General |
Amenities
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 1 | $149.00 | - |
| Guest Room | 18 | $124.00 | - |
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Property Taxes
| Parcel Numbers | Improvements Assessment | $139,150 | |
| Land Assessment | $38,640 | Total Assessment | $177,790 |
Property Taxes
Parcel Numbers
Land Assessment
$38,640
Improvements Assessment
$139,150
Total Assessment
$177,790
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Siesta Motel | 615 S Main St
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