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Hotel-Motel

Spokane MainStay Sleep Inn Dual Brand

3809 S Geiger Blvd, Spokane, WA 99224

Listing Price: $10,500,000

Cap Rate
6.90%
Number of Rooms
87
RevPAR
$79
Price/Room
$120,690
RRM
4.04
Year Built
2019

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of the Dual Brand MainStay Suites Spokane Airport and Sleep Inn Spokane Airport. The 2019 built, 3-story hotel is comprised of 87 rooms between both brands. Conveniently located off Interstate 90 and Highway 395, this asset is positioned well to capture demand of travelers for single nights and Extended-Stay periods. Offered well below replacement cost, this asset allows an investor to acquire a nearly turnkey operation with existing, consistent cash flows. Absentee Ownership is utilizing 3rd party management offering ample upside potential with a more hands on approach or a convenient model to continue operations with.

This 2019 build Hotel continues to ramp up revenues and slightly lags behind in CompSet comparison proving more upside potential. Equipped with all modern amenities throughout the rooms and common areas, an incoming investor will have little to none in PIP and renovation expectations. This property also utilizes a shuttle on-site allowing airport travelers convenient access to and from. The hotel is situated on a sprawling 7 acre lot with convenient access off Geiger Boulevard.

Spokane is located on the Eastern side of Washington near the Idaho border. It is the second most populated city in Washington state and serves around 4 million travelers annually via Spokane International Airport. The passenger count continues to climb in year over year data. It has been considered the "downtown" of the Washington, Idaho, and British Columbia region. As the city caters to a variety of travelers, many visit during all four seasons for an exciting array of shopping, dining and entertainment opportunities in addition to a more relaxed pace pursuing Spokane’s serene outdoors.

Investment Highlights

  • 2019 Build 3-Story Dual Brand Airport Hotel
  • Consistent Stabilized Room Revenue With Strong Demand Drivers in a Market With Seldom Available Inventory
  • Dual Brand of Sleep Inn and MainStay Captures Both Transient and Long Term Guests
  • Absentee Ownership Utilizing Management Allows New Investor Upside or Continued Success with Current Operations
  • Strategic Location Next To Spokane International Airport off of I-90/Hwy 395

Exclusively Listed By

  • Jared Plamann

    Senior Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Jake M. Erickson

    Senior Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Joseph Ferguson

    Associate

    (952) 852-9769

    Email Joseph

    License(s): MN: 40737246

    Minneapolis

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s) WA: 25469

    Washington

Hotel-Motel

Spokane MainStay Sleep Inn Dual Brand

Listing Price: $10,500,000

Cap Rate
6.90%
Number of Rooms
87
RevPAR
$79
Price/Room
$120,690
RRM
4.04
Year Built
2019

Investment Highlights

  • 2019 Build 3-Story Dual Brand Airport Hotel
  • Consistent Stabilized Room Revenue With Strong Demand Drivers in a Market With Seldom Available Inventory
  • Dual Brand of Sleep Inn and MainStay Captures Both Transient and Long Term Guests
  • Absentee Ownership Utilizing Management Allows New Investor Upside or Continued Success with Current Operations
  • Strategic Location Next To Spokane International Airport off of I-90/Hwy 395

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing of the Dual Brand MainStay Suites Spokane Airport and Sleep Inn Spokane Airport. The 2019 built, 3-story hotel is comprised of 87 rooms between both brands. Conveniently located off Interstate 90 and Highway 395, this asset is positioned well to capture demand of travelers for single nights and Extended-Stay periods. Offered well below replacement cost, this asset allows an investor to acquire a nearly turnkey operation with existing, consistent cash flows. Absentee Ownership is utilizing 3rd party management offering ample upside potential with a more hands on approach or a convenient model to continue operations with. This 2019 build Hotel continues to ramp up revenues and slightly lags behind in CompSet comparison proving more upside potential. Equipped with all modern amenities throughout the rooms and common areas, an incoming investor will have little to none in PIP and renovation expectations. This property also utilizes a shuttle on-site allowing airport travelers convenient access to and from. The hotel is situated on a sprawling 7 acre lot with convenient access off Geiger Boulevard. Spokane is located on the Eastern side of Washington near the Idaho border. It is the second most populated city in Washington state and serves around 4 million travelers annually via Spokane International Airport. The passenger count continues to climb in year over year data. It has been considered the "downtown" of the Washington, Idaho, and British Columbia region. As the city caters to a variety of travelers, many visit during all four seasons for an exciting array of shopping, dining and entertainment opportunities in addition to a more relaxed pace pursuing Spokane’s serene outdoors.

Exclusively Listed By

  • Jared Plamann

    Senior Associate

    (952) 852-9745

    Email Jared

    License(s): MN: 40605209, WI: 89876-94

    Minneapolis

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9767

    Email Jon

    License(s): MN: 40583288, IA: B63379000, ND: 10032, WI: 76173-94, SD: 17724, NE: 20200223

    Minneapolis

  • Jake M. Erickson

    Senior Associate

    (952) 852-9721

    Email Jake

    License(s): MN: 40486025, IA: S66396000, WI: 89877-94

    Minneapolis

  • Joseph Ferguson

    Associate

    (952) 852-9769

    Email Joseph

    License(s): MN: 40737246

    Minneapolis

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s): WA: 25469

    Washington

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