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The Cascades Mountain Resort is a 100-room, two-story, interior-corridor hotel located immediately off of Interstate-26 (65,000 VPD) and Route 64 (38,000 VPD) on a 3.74-acre parcel. The property, originally built in 1966, underwent a complete gut-job renovation throughout 2016 through 2018 to meet Choice Hotels' Ascend Collection standards. Formerly an exterior-corridor Quality Inn, current ownership has invested over $4,650,000 in renovation costs to convert the property to an interior-corridor, full-service, upscale resort. Converting the exterior corridors to encased glass hallways is among one of many capital expenditures that have transformed the property into a turn-key asset. Among these renovations is a full-fledged interior renovation of the indoor pool area to create a 12,000-square-foot indoor water park complete with natural stone, indoor gardens, waterfalls, and a two-story, 110-foot water slide. A separate hot tub area was created over three enclosed, private sections of the water park. The resort includes a fitness center, cafe, game room, gift shop, and 4,600-square-foot conference room which can seat up to 300 people. Each room and suite in the resort has undergone a complete overhaul including brand new cased-goods, furniture, beds, and mattresses. The resort includes a gift shop, cafe, as well as a 2,500-square-foot full-service restaurant and liquor-licensed bar known locally as the Old Orchard Tavern and Bar. The tavern offers indoor and outdoor seating, and serves guests as well as locals. The property re-opened as an independent hotel in 2016 and join the Ascend Hotel Collection in 2018 and is offered with a Choice Hotels International franchise agreement that expires in 2028. The Cascades Mountain Resort appraised in 2018 for $6,700,000. This presents an investor with the opportunity to enter the property at a significant discount to appraisal value and replacement cost due to the uncertainty correlated with the ongoing COVID-19 pandemic. Prior to the COVID-19 pandemic, current ownership already received bookings for upwards of $600,000 in revenue for the 2020 fiscal year in just January and February of 2020 and were on track to have their best year since opening, however, nearly all bookings were cancelled in March, April, and May 2020 per the state and federal guidelines regarding quarantine. Ownership was projecting to hit $2,800,000 in revenue in 2020 between room revenue, food and beverage, conference, and miscellaneous income. The asset is offered with Fee-Simple Interest and is currently unencumbered of any third-party management. "SELLER FINANCING AVAILABLE"