Limited-Service Inn with
1099 K St San Miguel, CA 93451
1099 K St, San Miguel, CA, 93451
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For Sale
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Budget-friendly limited-service inn with about 17 guest rooms, free Wi-Fi, and ample on-site parking near U.S. Highway 101.
Property Size10,000 SF
Price / SF$180
Days on Market110
Property Features for 1099 K St
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Property subtype
- Hospitality
Building Details
- Year Built
- 1974
Listing agency
Apex Lodging Advisors
Listed by
Peter Agnoletti · License #02017350
Source
Crexi
Added: Apr 3 Updated: Jul 21 at 5:25AM Checked: Jul 21 at 5:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Apex Lodging Advisors
Investment Insights
Based on property information with market context.
Western States Inn is a limited-service hospitality property with approximately 17 guest rooms. The inn is positioned to serve short-term stays and includes free Wi-Fi and ample on-site parking for guest convenience.
The property is located at 1099 K St in San Miguel, just off U.S. Highway 101, which supports drive-by accessibility and convenient regional connectivity. The surrounding market includes the San Luis Obispo County wine region and nearby wineries and historic attractions, with demand also influenced by nearby tourism activity.
As an income-oriented lodging asset, the property is described as budget-friendly compared to branded hotel options, while still maintaining practical amenities for highway travelers, workers, and visitors.
The property is located at 1099 K St in San Miguel, just off U.S. Highway 101, which supports drive-by accessibility and convenient regional connectivity. The surrounding market includes the San Luis Obispo County wine region and nearby wineries and historic attractions, with demand also influenced by nearby tourism activity.
As an income-oriented lodging asset, the property is described as budget-friendly compared to branded hotel options, while still maintaining practical amenities for highway travelers, workers, and visitors.
Key Highlights
- Western States Inn is a limited‑service hospitality property built in 1974.
- Approximately 17 guest rooms for short‑term lodging.
- Just off U.S. Highway 101 with access aimed at highway travelers.
Local Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $216.0k | $21.60 |
| − Vacancy | −$25.9k | −$2.59 |
| EGI | $190.1k | $19.01 |
| − OpEx | −$99.8k | −$9.98 |
| NOI | $90.3k | $9.03 |
10,000 SF · lease $21.60/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$1.29M
$1.13M – $1.50M
NOI $90,288 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.93M
$3.44M – $4.59M
NOI $275,299 @ 7.0% cap · market cap 15.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hotels
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FAQs
What type of property is this?
Hotel - Budget-friendly limited-service inn with about 17 guest rooms, free Wi-Fi, and ample on-site parking near U.S. Highway 101.
Where is this hotel located?
The property is located at 1099 K St San Miguel, CA.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Western States Inn is a limited‑service hospitality property built in 1974.; Approximately 17 guest rooms for short‑term lodging.; Just off U.S. Highway 101 with access aimed at highway travelers.
