IN CONTRACT – This property is currently IN CONTRACT with a Buyer in the backup position. The Seller will consider offers in the second backup position only.
$1,050,000 | Economy | Limited Service | 31 Keys
Updated Economy Hotel in Popular College Town
The State Inn is a recently updated, independent hotel featuring 31 exterior corridor rooms in the heart of the thriving college town of Pullman, Washington. Built in 1972 and thoroughly renovated in 2017, the hotel has over $300,000 in improvements. The hotel is centrally located on Main Street, featuring excellent walkability to nearby shops, restaurants, galleries, and events. The property has excellent proximity to Washington State University (WSU), the foremost economic driver of the city. The hotel is convenient for business or leisure travelers visiting the University.
The State Inn has a mixture of Queen Singles, Queen Doubles, Queen Suites, and King Suites. The property features basic economy hotel guest amenities, including free high-speed WiFi, kitchenettes, and pet-friendly accommodations. ~200 sq.ft. meeting, breakfast, or gathering space available.
Property also features a spacious ~1,000 sq.ft. Owner’s Quarters, with 1 bedroom, 1 bathroom, and a full kitchen, ideal for an Owner/Operator or an on-site Manager.
The State Inn Location
Pullman, Washington perfectly blends the liveliness of a college town with the unparalleled pastoral beauty of southeastern Washington. Pullman is just a few hours drive from Portland & Seattle major metro or an hour flight from Seattle into Pullman-Moscow Regional Airport. Amtrak and Greyhound also have stops in the city for added travel convenience. The city is home to Washington State University, a catalyst for numerous businesses through robust research and development programs. Pullman is also a major hub of Palouse, a region that encompasses areas of Washington, Idaho, and Oregon. This region is famously characterized by more than 200 miles of picturesque farms and rolling wheat fields, attracting shutterbugs from around the world year-round.
- 14.06% Cap Rate, 24.36% ROI & 3.15 GRM
- Seller Financing Available
- Excellent Walkability to WSU Campus
- Central Downtown Main Street Location
- Proximity to Regional Airport
- $300k of Recent Capital Improvements
- Includes Owner’s/Manager’s Quarters
Location: Metro, Washington
Type: Independent, Limited Service
Cap Rate: 14.06%
ROI/Cash Flow: 24.36%
Financing: New or Seller
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!
Broker Co-op Agreement
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.
Photos of The State Inn
The State Inn Map
Request Offering Memorandum & Financials
If you are a Broker requesting information for a client, you will need to complete a Buyer Registration form first.