2922 Hartson AveSpokane, WA 99224

Property Details for 2922 Hartson Ave

Year built

1957

Lot size

0.65 AC

Property size (Sq ft)

2,434 SF

Property type

Hospitality properties

Property subtype

Hotels

APN

25231.5307

APU

252315307

Description

This exceptional investment opportunity presents a 21-unit motel in Spokane, WA, totaling 11,308 square feet across three buildings constructed between 1957 and 1963. Situated on approximately 28,328 square feet of land, plus additional adjacent parcels, the property boasts a convenient location, less than a mile from downtown Spokane and a short 5-minute drive to Spokane International Airport. Easy I-90 access enhances its appeal. The motel enjoys consistent occupancy and offers flexible pricing for nightly or extended stays, catering to a diverse clientele. Its proximity to Indian Canyon Golf Course adds to its attractiveness. The asking price is $1,600,000, translating to $141.49 per square foot. The property's APNs are 25234.0101, 25234.0108, 25231.5307, 25231.5305, 25231.5401, and 25231.5409. Seller financing may be considered for a qualified buyer. This presents a strong opportunity for a new generation of motel operators to capitalize on the expanding Spokane market. Please note that residents should not be disturbed.

• CAP approach

  CAP return

  Valuation

  6%

  $563,338

  6.5%

  $520,004

  7%

  $482,861

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,219,540

  Geo Method

  $1,219,540

• Alternative Use

  Use

  Valuation

  Residential

  $567,693

  Hospitality

  $520,004

  Educational

  $432,637

  Medical

  $447,516

  Retail

  $672,991

Location Insight

City

Spokane

County

Spokane

State

Washington

Latitude

47.6504

Longitude

-117.455

CBSA code

44060

CBSA name

SPOKANE-SPOKANE VALLEY, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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