Property Details

18950 State Route 2
Monroe, WA 98272
$5,999,900
MLS# 2505950 courtesy of NWMLS Listing firm: KW Greater Seattle

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18950 State Route 2 , Monroe, WA 98272, Monroe

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Commercial
Property Type
18,079
Bldg Sq Ft
2
Units
9.00%
Cap Rate
1986
Year Built

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
Listed By
Richard C. Buchanan
KW Greater Seattle

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