1862 State Route 20, Sedro Woolley, WA 98284$1,999,999.00

Comments for 1862 State Route 20, Sedro Woolley, WA 98284

Don't miss this chance to take advantage of a vacant motel waiting for the next owner's vision. Opportunity to acquire a 48-room private motel at an asking price of $1,999,999?approximately $41,667 per room?in Sedro-Woolley, Washington. Located on State Route 20, the property occupies a strategic location between Interstate 5 and the North Cascades. The site is within 1/2 mile of PeaceHealth United General Medical Center and near downtown Sedro-Woolley, North Cascades National Park, Mount Baker, Diablo Lake, the Skagit Valley Tulip Festival, Cascade Loop Scenic Highway, and year-round recreation. Acquire a 48-room motel at an attractive per-room cost, renovate, and reposition the property to serve tourists, medical visitors, contractors, business travelers, and regional guests. The Sedro-Woolley motel has been pre-approved for conversion by Wyndham (Dazzler by Wyndham), Red Roof Inn, Sonesta Hotels (Sonesta Select), and Americas Best Value Inn, Park Inn (Choice Hotels) giving investors the flexibility to choose from nationally recognized brands. The motel is modeled at a $115 average daily rate and 65% stabilized occupancy, producing approximately $1.28M in annual room revenue and approximately $640K projected NOI before debt service and taxes.