720 Lewis StPasco, WA 99301
- Office properties
- 840 SF
Property Details for 720 Lewis St
- Year built
- 1958
- Lot size
- 1.04 AC
- Property size (Sq ft)
- 840 SF
- Property type
- Office properties
- Property subtype
- Other 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $171,164
- 6.5%
- $157,998
- 7%
- $146,712
-
Comparable approach
- Method
- Valuation
- Relative Method
- $179,096
- Geo Method
- $179,096
-
Alternative Use
- Use
- Valuation
- Residential
- $195,917
- Hospitality
- $179,459
- Educational
- $149,308
- Medical
- $154,443
- Retail
- $232,257
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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