Property Details
18950 State Route 2
Monroe, WA 98272
$5,999,900
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Property Overview
Compelling investment opportunity for investors & developers seeking both immediate cash flow & long-term upside. Strategically positioned along major corridor w/ strong visibility & convenient access, the property benefits from consistent drive-by traffic and proximity to regional demand drivers, including the Evergreen State Fairgrounds, outdoor recreation, & growing residential communities. This independently operated hotel offers new ownership complete operational flexibility. Investors have option to continue operating or pursue rebranding w/ national or regional flag to enhance market positioning & revenue potential. Features solid existing structure w/ significant value-add potential through renovations, operational improvements, & repositioning strategies. Some upgrades could drive higher average daily rates (ADR) & occupancy levels, aligning the property w/ evolving guest expectations. In addition, the site offers notable redevelopment opportunities. Located along Hwy 2, a key east-west corridor, combined w/ favorable zoning & strong regional growth trends, supports consideration for alternative uses. Potential redevelopment may incl multifamily housing, mixed-use development, or a modernized hospitality concept tailored to current market demand. With continued population growth in Snohomish County & increasing lodging demand and housing in the area, the Inn represents rare opportunity to acquire a well-located asset w/ stable income characteristics.
Property Details
Property Information
Property Type
Commercial Sale
Subtype
Commercial Industrial
Status
Active
County
Snohomish
Neighborhood
Monroe
Listed
Apr 15, 2026
Original Price
$6,500,000
Structure Type
Hotel/Motel
Parcel Number
27060100112200
Tax & HOA
Annual Property Tax
$43,377 (2025)
Est. Monthly Tax
$3,615/mo
Financial Summary
Cap Rate
9.00%
Net Operating Income
$615,000
Gross Scheduled Income
$1,400,400
Gross Rent Multiplier
4.60
Total Expenses
$111,477
Total Actual Rent
$4,102/mo
Vacancy Rate
32.0%
Building & Use
Building Sq Ft
18,079
Total Units
2
Zoning
Commercial,See Remarks
Possible Use
Commercial, See Remarks
Lot Size
1.51 acres
Year Built
1986
Exterior & Lot
Lot Size
1.51 sqft
Year Built
1986
Exterior Materials
Brick, Wood
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Brick, Wood, Wood Products
Community & Access
Directions
S side of hwy 2, SE of 522/hwy 2 junction.
Location
City
Monroe
County
Snohomish
Coordinates
47.85986, -121.97546
Additional Information
Tax Year
2025
Annual Taxes
$43,377
Possession
Array
