Spokane, Washington, offers a unique opportunity for investors to capitalize on the city's growing demand for accommodations. With 1 hotels for sale, Spokane presents an attractive market for those looking to invest in the hospitality industry. Hotels in Spokane can represent a range of investment opportunities, from boutique establishments to larger chain hotels, each catering to the city's diverse visitor base. The city's amenities, infrastructure, and location make it an ideal place to invest in a hotel. Spokane is home to several universities, including Gonzaga University and Whitworth University, and attractions like Riverfront Park and Manito Park, drawing visitors from across the region. The city's geography, with the Spokane River running through it, also makes it a popular destination for outdoor enthusiasts. As a result, hotels in Spokane can benefit from a steady stream of visitors, making them a solid investment opportunity.
Spokane's hotel market is just one aspect of the city's diverse commercial landscape. In addition to hotels, investors can also explore opportunities in restaurants, apartment buildings, and shopping centers. The city's restaurant scene is thriving, with a range of establishments serving everything from fine dining to casual eats. Apartment buildings in Spokane offer a steady stream of rental income, with many units located near the city's universities and downtown area. Shopping centers, like the Spokane Valley Mall, provide a hub for retail activity, drawing visitors from across the region. With its unique blend of natural beauty, cultural attractions, and economic opportunities, Spokane is an attractive destination for investors looking to capitalize on the city's growth.
What factors should I consider when buying a hotel in Spokane?
When considering buying a hotel in Spokane, there are several key factors to take into account, including:
- The local economy, which is driven by industries such as manufacturing, health sciences, and professional services, and is home to major employers like the State of Washington and Providence Sacred Heart Medical Center and Children's Hospital.
- The city's tourism attractions, such as Riverfront Park, Manito Park, and the Northwest Museum of Arts and Culture, which can impact hotel occupancy rates and revenue.
- The availability and cost of commercial real estate loans, such as CRE loans, which can affect the feasibility of purchasing a hotel property (learn more about CRE loans at https://www.loopnet.com/cre-explained/finance/cre-loans/).
Currently, there are 1 hotel listings available in Spokane, with an average price per square foot of $177 USD and an average size of 8,480 square feet. The largest hotel property available is 8,480 square feet, and the average cap rate is.
How is the value of a hotel for sale typically calculated?
When evaluating hotels for sale in Spokane, the value is typically calculated through a comprehensive CRE appraisal, which takes into account various factors such as the property's income-generating potential, operating expenses, and market conditions. To learn more about the CRE appraisal process and how it affects the valuation of commercial properties like hotels, check out our in-depth article at CRE appraisals.
