720 Lewis StPasco, WA 99301

Property Details for 720 Lewis St

Year built

1958

Lot size

1.04 AC

Property size (Sq ft)

840 SF

Property type

Office properties

APN

112044172

APU

112044172

Description

This exceptional turnkey hotel investment opportunity in Pasco, Washington, presents a rare chance to acquire a fully renovated and highly profitable hospitality business. Located at 720 W Lewis St, this property boasts 58 keys across three buildings, each two stories high. A complete renovation was finished in 2023, ensuring modern amenities and optimal functionality. The hotel's configuration is ideally suited for migrant H2A fieldworker housing, holding all necessary permits. Beyond the hotel rooms (mostly singles, with several doubles), the property generates additional revenue streams from an on-site public laundromat and a leased restaurant. Further enhancing its appeal, the property includes a manager's residence and a front reception office. Situated on a spacious 1.04-acre lot, ample parking is readily available. The property's APN is 112044172. Built in 1958, this meticulously updated hotel offers an excellent return on investment, making it an attractive proposition for discerning investors seeking a stable and profitable venture in a thriving market. The asking price for this exceptional property is $4,999,000.

• CAP approach

  CAP return

  Valuation

  6%

  $193,986

  6.5%

  $179,064

  7%

  $166,274

• Comparable approach

  Method

  Valuation

  Relative Method

  $179,096

  Geo Method

  $179,096

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $345,418

  Retail / Commercial

  $178,522

  Mixed-Use / Specialty

  $178,984

  Hospitality / Lodging

  $132,744

  Institutional / Educational

  $186,463

  Residential Income

  $218,162

  Multifamily

  $255,564

  Automotive / Energy

  $159,826

  Parking / Income-Based Land

  $54,069.10

  Restaurant / Food Service

  $95,434.20

  Healthcare / Senior Housing

  $182,418

Location Insight

City

Pasco

County

Franklin

State

Washington

Latitude

46.2291

Longitude

-119.097

CBSA code

28420

CBSA name

KENNEWICK-RICHLAND-PASCO, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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