600 99Th StVancouver, WA 98665

Property Details for 600 99Th St

Year built

1996

Construction

WOOD

Lot size

0.81 AC

Property size (Sq ft)

3,670 SF

Zone code

CC : CLK

Property type

Banks

APN

118261-194

APU

118261194

Description

This exceptional 45-key hotel in Vancouver, Washington, presents a compelling investment opportunity. Located in an Opportunity Zone, this property offers significant tax advantages for investors seeking to capitalize on its value-add potential. Currently generating a Net Operating Income (NOI) of $447,510 and boasting a 12.88% capitalization rate, this hotel represents a strong return on investment. The property enjoys a highly visible highway frontage, providing excellent accessibility and exposure. With a 4.2-star Google rating based on 467 reviews, there's clear potential for operational improvements and enhanced guest experience. The hotel features a diverse mix of rooms and suites, all equipped with kitchenettes, catering to a broad range of guests. Furthermore, the property's strategic location offers proximity to numerous recreational activities, including hiking, fishing, water sports, and wine tasting, as well as cultural attractions, restaurants, and entertainment venues. The existing structure also presents conversion options for alternative uses, such as apartments, homeless shelters, or medical centers, offering flexibility and future development potential. Truck, bus, and RV pull-through parking is available. The asking price is $3,475,000. This is a rare opportunity to acquire a well-situated hotel with substantial upside in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $1,481,763

  6.5%

  $1,367,782

  7%

  $1,270,083

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,781,057

  Geo Method

  $1,781,057

• Alternative Use

  Use

  Valuation

  Residential

  $1,153,775

  Hospitality

  $1,056,852

  Educational

  $879,288

  Medical

  $909,528

  Retail

  $1,367,782

Location Insight

City

Vancouver

County

Clark

State

Washington

Latitude

45.6933

Longitude

-122.666

CBSA code

38900

CBSA name

PORTLAND-VANCOUVER-BEAVERTON, OR-WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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