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Property profile & analytics
FOR SALE
Hotels

2922 W Hartson Ave Spokane, WA 99224

2,434 SF 0.65 ac lot Built 1957
Individually Owned 21-yr Hold ~ Est. High Equity
Property ID
US90-0029626
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Hotels
Use group HOTEL/MOTEL
Year built 1957
Total area 2,434 SF
Lot 0.65 ac (28,328 SF)
APN 25231.5307
UPID US90-0029626
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Shangri-La Motel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
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by Request
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Comparable Approach Comparable
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by Request
Owner & transaction history
Todd Kosanke · 21 yrs held
Todd Kosanke
since 2005
1 recorded transaction
2005
$437,000
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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