IN CONTRACT – This property is currently in contract, the seller will consider offers in backup position only.
Midscale Franchise Hotel in Premier Resort Destination
The La Quinta Inn & Suites is a 68 key select service franchised midscale hotel with both interior and exterior corridor buildings. The property features a large front desk area with fireplace, gift shop, fitness center, indoor spa, and seasonal outdoor swimming pool. Guest room mix includes a selection of Queen and King rooms, kitchenette and spa suites, family-friendly rooms, and ADA rooms. Amenities include in-room mini-refrigerator, microwave, television, and high-speed internet (WiFi). Property has over $240,000 in recent capital improvements and consists of 3 buildings and a leased restaurant on over 1.16 acres in a highly desirable central location. Ideally situated in the heart of downtown Sandpoint, visitors are within walking distance to many unique shops, art galleries, great restaurants, and scenic Lake Pend Oreille.
Sandpoint was named the “most beautiful town in America” by USA Today and Rand McNally. Surrounded by three mountain ranges and set on the shores of 43-mile-long Lake Pend Oreille, Sandpoint provides visitors with both peaceful relaxation and exciting outdoor recreation. The town’s historic downtown area is home to numerous art galleries and artist studios, clothing shops, sports outfitters, and restaurants. Visitors appreciate mountain scenery, watch for wildlife, and indulge in year-round outdoor adventures including hiking, biking, boating, fishing, skiing, and snowboarding.
Building size is approximate and all information is obtained from sources deemed reliable but subject to buyer verification. All property tours must be arranged through the broker. DO NOT CONTACT PROPERTY OR EMPLOYEES!
Please Note: Buyer’s Brokers will need to obtain a Buyer Paid Fee for this property. There is no Broker commission co-op. Please call with questions regarding this requirement.
Special Property Features Include:
- 11.02% Cap Rate, 22.52% ROI & 3.37 GRM
- Over $240,000 in Recent Capital Improvements
- Walking Distance to Scenic Lake Pend Oreille
- Year-Round Demand Drivers
- Mixed Interior and Exterior Corridor
- Absentee Owner – Strong Upside Potential
- Leased Restaurant
Location: Resort, Mountain
Type: Franchised, Select Service
Cap Rate: 11.02%
ROI/Cash Flow: 22.52%
Request Offering Memorandum & Financials
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