122 Main StOmak, WA 98841

Property Details for 122 Main St

Year built

1958

Lot size

0.49 AC

Property size (Sq ft)

3,988 SF

Property type

Motels

APN

1420042400

APU

1420042400

Description

This exceptional 61-unit Rodeway Inn & Suites presents a compelling investment opportunity in Omak, Washington. Situated on a 0.49-acre lot at 122 N Main St, this two-story, exterior-corridor hotel boasts a prime location serving as a gateway to the Okanogan-Wenatchee National Forest. Built in 1958, the property includes one building and features recently updated infrastructure, including roof repairs/replacements within the last four years and a repaved parking lot. The hotel's 61 keys generated $525,911 in room revenue in 2023, achieving an average daily rate (ADR) of $64.90. A significant advantage is the on-site manager's apartment, complete with a full kitchen, ideal for an owner-operator. The property's current performance indicates substantial upside potential due to past mismanagement under an absentee owner. Omak's thriving economy, driven by agriculture, forestry, tourism, and recreation, provides a strong foundation for future growth. The hotel's proximity to Seattle (approximately 235 miles) and Spokane (approximately 140 miles) further enhances its appeal. The property's APN is 1420042400. This is a limited-service property with significant potential for increased profitability under effective management. The asking price is $1,980,000.

• CAP approach

  CAP return

  Valuation

  6%

  $923,004

  6.5%

  $852,003

  7%

  $791,146

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,998,162

  Geo Method

  $1,998,162

• Alternative Use

  Use

  Valuation

  Residential

  $930,140

  Hospitality

  $852,003

  Educational

  $708,857

  Medical

  $733,235

  Retail

  $1,102,666

Location Insight

City

Omak

County

Okanogan

State

Washington

Latitude

48.4129

Longitude

-119.528

Property Tax & Assessments

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