18950 State Route 2, Monroe, WA 98272
- $5,700,000
Listing courtesy of KW Greater Seattle.
- List Price
- $5,700,000
- Status
- ACTIVE
- MLS#
- 2505950
- Price Change
- ▼ $299,900 1782868665
- Days on Market
- 104
- Annual Tax Ammount
- 43377
Property Description
Compelling investment opportunity for investors & developers seeking both immediate cash flow & long-term upside. Strategically positioned along major corridor w/ strong visibility & convenient access, the property benefits from consistent drive-by traffic and proximity to regional demand drivers, including the Evergreen State Fairgrounds, outdoor recreation, & growing residential communities. This independently operated hotel offers new ownership complete operational flexibility. Investors have option to continue operating or pursue rebranding w/ national or regional flag to enhance market positioning & revenue potential. Features solid existing structure w/ significant value-add potential through renovations, operational improvements, & repositioning strategies. Some upgrades could drive higher average daily rates (ADR) & occupancy levels, aligning the property w/ evolving guest expectations. In addition, the site offers notable redevelopment opportunities. Located along Hwy 2, a key east-west corridor, combined w/ favorable zoning & strong regional growth trends, supports consideration for alternative uses. Potential redevelopment may incl multifamily housing, mixed-use development, or a modernized hospitality concept tailored to current market demand. With continued population growth in Snohomish County & increasing lodging demand and housing in the area, the Inn represents rare opportunity to acquire a well-located asset w/ stable income characteristics.
Additional Information
- Community
- Monroe
- Style
- 64 - Hotel/Motel
- Year Built
- 1986
- # of Assigned Spaces
- 64
- Roof
- Composition
- Tax Year
- 2025
- Potential Terms
- Cash, Conventional
- Driving Directions
- S side of hwy 2, SE of 522/hwy 2 junction.
- Electric Expenses
- 14400
- Other Expenses
- 16200
- Energy Source
- Electric, Ground Source
- Net Operating Income
- $615,000
- Gross Adjusted Income
- $952,272
- Gross Scheduled Income
- $1,400,400
- Water/Sewer/Garbage Expenses
- $30,000
- Cap Rate
- 9
- Vacancy Rate
- 32
- Total Expenses
- $111,477
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.