Highway Frontage Resort with Extensive Capital Improvements
Packwood Lodge is a select service hotel with opportunity to bring the restaurant on line or lease out for an additional income stream. Located along the Highway 12 corridor, with both highway visibility and access, the property features extensive capital improvements – 21 updated guest rooms and suites, plus 9 newly built detached cabins. Cabins feature a kitchenette, sitting area, jacuzzi tub, bathroom with shower and outdoor decking. This resort property includes a beautifully appointed lobby, office, laundry room, and Owner’s Quarters. Just 2.5 hours from Portland and Seattle metropolitan areas, Packwood Lodge is 4 miles from the entrance to Mt. Rainier National Park and features a variety of year-round demand drivers.
Extensive Capital Improvements to each room include fresh paint, new furniture, mattresses, bed frames, draperies, linens, flatscreen TVs, mini-fridges, microwaves, and coffee makers. High-speed wireless internet is available throughout the lodge. The hotel features a separate Owner’s Quarters with 2 bedrooms, 1 bathroom, full kitchen, private entrance, and extra storage. The residence offers direct access to the lobby in case of inclement weather or late check-in.
A 2600 sq.ft. on-site restaurant is built and fully outfitted and is not currently operating. The restaurant includes fireplace, bar area, and seating for 99 patrons. Excellent opportunity to lease for additional income or run in-house for greater return on investment!
Location: Packwood, Washington is located centrally between Mt. Rainier, Mt. St. Helens, and Mt. Adams, just minutes from the entrance to Mt. Rainier National Park. Packwood’s resort location and small-town charm appeal to visitors from all over the world. Year-round demand drivers include hiking, hunting, fishing, bird and wildlife watching, skiing, snowboarding, snowmobiling, and outdoor recreational areas. Packwood is an easy 2 to 3-hour drive from Portland or Seattle, making it a popular weekend getaway destination, drawing from these major metropolitan urban populations.
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 broker. DO NOT CONTACT PROPERTY OR EMPLOYEES!
Selling Broker co-op (if available) contingent upon receipt and CIP approval of Buyer Registration in advance of receipt of the marketing package, financials, and presentation of offers. No co-op without CIP approval of Buyer registration. Please call with questions regarding this requirement.
Special Property Features Include:
- Excellent Proximity to Major Metro Seattle & Portland
- Highway Frontage in Resort Area
- Extensive Capital Improvements
- 2 Bedroom Owner’s Quarter with Full Kitchen
- Opportunity to Run or Lease Currently Non-operating Turnkey Restaurant
Location: Mountain, Resort, Highway
Type: Select Service, Independent, Boutique
Cap Rate: 10.74%
ROI/Cash Flow: 22.79%