Listed by Matthews
$1,810,000
1716 Main Street
Details
Property Type Hospitality
Sub Type Hotel
Square Footage 21,506
Keys 64
Price per SqFt $84
Year Built 1966
Stories 2
Acreage 0.920
Distressed 66-Unit Hotel in Lewiston, ID – Major Value-Add & Branding Upside
Investment highlights
- Significant Room Count: A 66-unit hospitality asset consisting of 64 guest keys plus a 2-bedroom manager’s apartment, providing flexible housing options for on-site management or additional rental income.
- Deep Value-Add Play: Currently operating as a distressed, owner-absentee asset with approximately 50% of the guest rooms offline. This presents a massive “blank canvas” opportunity to renovate and stabilize at market rates.
- Strategic Branding Potential: A “clean slate” for branding; Wyndham has already expressed interest in flagging this location. Moving from independent to a global brand will instantly capture loyalty program traffic and higher ADR.
- Unbeatable Pricing: Offered at just $28,281 per key, representing a substantial discount to replacement cost and recent comparable sales in the Pacific Northwest.
- Strong Submarket Fundamentals: According to CoStar data, the Lewiston Economy/Midscale submarket maintains a 12-month RevPAR of $49.95.
- Immediate Upside: Bringing the offline rooms back into service allows a buyer to potentially double the current revenue stream while benefiting from the existing demand in the Lewis-Clark Valley.
- Distressed Motivation: Priced for a quick sale due to its current distressed status, offering a sophisticated buyer the chance to step into immediate equity upon stabilization.
Listing Contacts
Listed by Matthews
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Zoning
C4 CommercialGeneral CommercialGeneral Commercial Zone
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