165 Washington StSpokane, WA 99201

Property Details for 165 Washington St

Year built

1957

Lot size

0.45 AC

Property size (Sq ft)

10,542 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

35191.0504

APU

351910504

Description

This established Spokane, WA motel presents a compelling investment opportunity. Located at 165 S Washington St, this turn-key operation boasts 43 rental rooms – 39 singles and 4 doubles – plus two residential units for managers. Built in two phases during the 1950s, the property comprises three buildings across a 0.45-acre lot, totaling 26,270 square feet. Each guest room is equipped with a TV, microwave, and refrigerator, and the property benefits from consistently positive year-over-year revenue. All rooms are non-smoking. The motel's furniture, fixtures, and equipment (FF&E) are included in the sale price of $1,999,500 ($95.17/sq ft). The property's strong performance is further enhanced by the high demand for affordable housing in downtown Spokane. Detailed financial information is available upon execution of a non-disclosure agreement. Showings are by appointment only

• CAP approach

  CAP return

  Valuation

  6%

  $2,078,928

  6.5%

  $1,919,010

  7%

  $1,781,938

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,282,000

  Geo Method

  $5,282,000

• Alternative Use

  Use

  Valuation

  Residential

  $2,095,002

  Hospitality

  $1,919,010

  Educational

  $1,596,594

  Medical

  $1,651,503

  Retail

  $2,483,590

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6549

Longitude

-117.417

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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