120 W 3rd Ave, Spokane, WA 99201

Building Details

Year Built

1985

Listing office g***@svn.com Show Phone

Listing date Jun 24, 2026

Source Svncornerstone

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 Guy D. Byrd, SIOR

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Overview

This hotel property consists of four separate buildings built between 1964 and 1985, with 88 guest rooms in place. The asset also includes a standalone restaurant building totaling 5,200 square feet. The opportunity is positioned for an investor/operator seeking to re-flag and rehab the existing hotel.

The property is located in an Opportunity Zone and benefits from a highly visible downtown setting. It sits on 1.37 acres, offering a consolidated footprint for hospitality operations and related improvements. Zoning is listed as Downtown General.

For buyers and operator groups, the combination of in-place room inventory and an on-site standalone restaurant supports a mixed hospitality concept. The property’s existing building count and straightforward guest-room scale can be attractive for teams looking to reposition an established hotel within the Opportunity Zone framework, while planning upgrades around the existing structure and restaurant space.

Suggested Use

Restaurant Real Estate Agency Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Spa & Massage Center Hair Salon Law Firm Nail Salon

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Spokane

County

Spokane

State

Washington

Longitude

-117.408827

Latitude

47.6533109

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FAQs

What type of property is this?

Hotel - Existing hotel offering 88 rooms across four buildings, plus a standalone restaurant, in an Opportunity Zone.

Where is this hotel located?

The property is located at 120 W 3rd Ave Spokane, WA.

What is the asking price?

The asking price for this property is $4,195,000.

What are key features of this property?

This property features: Existing hotel with 88 rooms across four buildings built between 1964 and 1985; Standalone restaurant on‑site totaling 5,200 SF; Opportunity Zone property with Downtown General zoning