1301 Lombard Avenue (Status: Available) 2585000

1301, Lombard Ave, Everett, WA  98201

The Waits Motel, is a 1-story, 24-room, limited-service lodging facility situated in N. Everett between Broadway Ave & Providence Regional Medical Center. The business has great cash flow potential. Recent operations reflect 77% occupancy ratio and $85 average daily rate. Annualized, pro forma projects potential to achieve 16% cap rate with gross revenue of $550,000 upon stabilized operations.Additional upside as future development site for residential uses as permitted by current zoning or continue operating as a lodging facility as it is currently, improved and maintained in-line with market standards.

Listing Details

Asset Class: Hotel/Motel
Year Built:
Building Total Square Feet: 7978
Available Lease Space Square Feet:
Number of Floors: 1
Total Parking Spaces: 0
Local Zoning Information:

Listing Courtesy of: Urban Commercial Partners, LLC

Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, LLC and should be verified by the tenant or buyer.