Ramada Inn & Suites Kent WA

Description

Major exit from Hwy 167 to Kent City, at the center of business and industrial district, price includes the restaurant property which is worth to 2 million and is leased to a well-known family restaurant in town,  yearly income is over $120,000 including rent and food rebate from the restaurant.  Room PIP renovation is still ongoing since the seller took over in Oct 2018. Reason for sale is that the seller wants to invest in a shopping center as a passive investment. 

Essential Information

  • Property Type Hospitality
  • Asking Price 13,500,000
  • Number of Unit 125
  • Room revenue 3,000,000
  • ADR 90.00
  • Occupancy(%) 63%
  • Yearly NOI 1,000,000
  • Year Built 1987
  • Year Remodel 2018
  • # of buildings 3
  • Building Size 56130
  • Lot Size (acres) 3.81 acres
  • Franchise or Non franchise Franchise
  • Interior corridor or exterior corridor Interior and exterior