Pasco, Washington, is a prime location for investing in hotels, with a growing population of approximately 70,000 residents and a strong economy driven by industries such as agriculture, food processing, and the Hanford Site. Hotels in Pasco offer a unique opportunity for investors to capitalize on the city's tourism industry, which is supported by attractions like the Pasco Farmers Market, Gesa Stadium, and the Sacagawea Heritage Trail. With a range of amenities, including waterfront parks along the Columbia River and the HAPO Center, Pasco is an attractive destination for both business and leisure travelers. The city's infrastructure, including the Pasco Intermodal Train Station and Tri-Cities Airport, provides easy access to major transportation hubs. Additionally, Pasco is home to Columbia Basin College, Washington State University Tri-Cities, and Tri-Cities Prep, making it an excellent location for educational institutions. The city's geography, with its desert climate and scenic views of the Columbia River, adds to its appeal as a tourist destination.
Currently, there are 1 hotels for sale in Pasco, offering a range of investment opportunities. The average price per square foot for hotels in Pasco is $167 USD, with an average size of 28,194 square feet. The largest hotel available for sale is 28,194 square feet. Pasco's hotel market is supported by a strong economy, with major employers like the Hanford nuclear facility, BNSF Railway, and Boise Cascade. In addition to hotels, Pasco also offers investment opportunities in restaurants, with popular dining options like the Pasco Farmers Market and local wineries. Apartment buildings are another option, with a growing demand for housing in the area. Shopping centers, such as the ones along Road 100, offer a range of retail spaces for investors. Overall, Pasco's diverse economy and range of investment opportunities make it an attractive location for investors looking to expand their portfolio.
What factors should I consider when buying a hotel in Pasco?
When considering buying a hotel in Pasco, there are several key factors to take into account, including:
- The current market conditions, with 1 available listings of hotels and an average price per square foot of $167 USD, to ensure you're getting a fair deal.
- The size and layout of the hotel, with average sizes ranging from 28,194 square feet to 28,194 square feet, to accommodate your target audience and operational needs.
- The potential return on investment, with an average cap rate of , to ensure your hotel generates sufficient revenue to justify the purchase.
Additionally, it's essential to research the local economy, infrastructure, and amenities, such as the Pasco Intermodal Train Station, Tri-Cities Airport, and Ben Franklin Transit, which can impact the hotel's accessibility and appeal to guests. Furthermore, consider the area's major employers, including the Hanford nuclear facility, BNSF Railway, and Boise Cascade, which can drive demand for hotel rooms. For more information on financing options, explore our article on commercial real estate loans, also known as CRE loans.
How is the value of a hotel for sale typically calculated?
In Pasco, Washington, where there are currently 1 hotel listings available, the value of a hotel for sale is typically calculated through a combination of methods, including a CRE appraisal, which takes into account factors such as the property's income, expenses, and local market conditions. To learn more about the CRE appraisal process and how it can impact the value of a hotel, check out our article at CRE appraisals, which provides a comprehensive overview of this important step in the hotel valuation process.
