Inn at the Lake

Hospitality for Sale
Catylist Listing ID: 30435262
Property Subtypes: Bed & Breakfast
Number of Units: 1 Units
Building Size (RSF): 7,038 SF
Gross Building Area: See Agent
Gross Land Area: 0.75 Acres
Sale Price: $1,250,000
Unit Price: $1,250,000 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Business
Name of Establishment: Inn At The Lake
Sale Terms: Cash to Seller, Purchase Money Mortgage
Cap Rate: Undisclosed
Last Updated: 12/11/2019

Overview / Comments

Currently operated as a successful Bed and Breakfast with 7 bedrooms and 7 bathrooms, beautifully maintained with quality linens and room amenities. Property has magnificent views from 2 separate decks overlooking Diamond Lake and has 75ft of frontage on a sandy beach with kayak and paddle boating for guest use. Roomy and light filled lounge with eating area and fireplace are just a few of the many amenities this property offers. Clear trending growth in reservations and income with potential for gift shop and day spa expansion. In 2018 it was awarded the coveted 5-star award from Trip Advisor. This property has great potential to take it to the next level.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $7,052 (Annual)
Gross Operating Income $124,876 (Annual)
Net Operating Income $62,699 (Annual)
Actual or Proforma Year Actual
Finance Data Year 2018
Real Estate Taxes - Annual($) $7,052 (Annual)
Gross Operating Income $124,876 (Annual)
Net Operating Income $62,699 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Spokane-Spokane Valley
County: Pend Oreille
Tax ID/APN: 8625.000000000000000
Retail Clientele: General, Family, Traveler, Tourist, Recreation
Property Visibility: Excellent
Largest Nearby Street: Hwy 2 and Farr Rd
Highway Access: Hwy 2
Airports: Spokane Int'l Airport
Site Description: 0.75 acres of well landscaped surroundings. Stair access to dock for swimming, boating and kayaking.
Nearby Attractions: Brand new Kalispel Casino just to the North offers partnership opportunities for future growth
Total Number of Buildings: 1
Number of Stories: 4
Property Condition: Excellent
Year Built: 1993
Roof Type: Other
Construction/Siding: Stucco
Water Recreation: Other
Exterior Description: Exquisite setting with 2 balcony patios to enjoy lake and sunset views. Fully landscaped with access to 75' of sandy beach
Parking Type: Surface
Sprinklers: Wet
Laundry: Shared
Heat Type: Electricity
Heat Source: Radiant
Air Conditioning: Other
Interior Description: High ceilings and lots of light to great you in the great room with ample furnishings for a crowd, fireplace, and dining tables. Each room has it's own special name with different decor.
Lot Frontage: lakefront
Water Service: Municipal
Sewer Type: Municipal
Legal Description: LOT 15 & E2 LT 16 OF THE SUBDIVISION OF BLOCK 55 OF DIAMOND LAKE COTTAGE SITES, PEND OREILLE COUNTY

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 675 675 3,887
Median Age: 51.21 51.21 45.79
Households: 312 312 1,590

Contact

Photograph of Listing Agent

Daniel Davis

Coldwell Banker Commercial
NWCRE Member
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