La Quinta Inn by Wyndham Bend 61200 S Highway 97
65 Room Hotel Bend, OR 97702 $7,900,000 ($121,538/Room) 8.60% Cap Rate
INVESTMENT HIGHLIGHTS
- 65 Units
- Located in a Fast-growing Year-Round Leisure Destination
- Highly Profitable - $128 Average Daily Rate
- 3-Story Interior Corridor Hotel
- Motivated Seller - Offers Encouraged
- Fully Renovated in 2022, Minimal Transfer PIP Expected
EXECUTIVE SUMMARY
The La Quinta Inn is a 65 Unit, 3-Story Interior Corridor Hotel in Bend, Oregon. The hotel boosts an Average Daily Rate over $127 and is highly profitable.
Bend is a fast-growing year round leisure destination drawing visitors for a wide range of recreational activities including snow sports, hiking, fishing, and golf. The hotel has an excellent location along Highway 97, across the street from a Walmart Supercenter, Nike Store, and the Bend Factory Outlets. The La Quinta provides convenient access to Bend's numerous recreational attractions, breweries, and restaurants.
The hotel features a complimentary hot breakfast, gym, and indoor pool and spa. The property completed an extensive renovation in 2022 and a minimal transfer PIP is expected for the new owner. Currently owned by a first-time absentee owner and third party managed.
Bend is a fast-growing year round leisure destination drawing visitors for a wide range of recreational activities including snow sports, hiking, fishing, and golf. The hotel has an excellent location along Highway 97, across the street from a Walmart Supercenter, Nike Store, and the Bend Factory Outlets. The La Quinta provides convenient access to Bend's numerous recreational attractions, breweries, and restaurants.
The hotel features a complimentary hot breakfast, gym, and indoor pool and spa. The property completed an extensive renovation in 2022 and a minimal transfer PIP is expected for the new owner. Currently owned by a first-time absentee owner and third party managed.
PROPERTY FACTS
| Price | $7,900,000 |
| Price Per Room | $121,538 |
| Sale Type | Investment |
| Cap Rate | 8.60% |
| Sale Condition | Ground Lease (Leasehold) |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 1.53 AC |
| Building Size | 34,154 SF |
| No. Rooms | 65 |
| No. Stories | 3 |
| Year Built/Renovated | 1990/2022 |
| Parking Ratio | 1.67/1,000 SF |
| Corridor | Interior |
AMENITIES
- Business Center
- Fitness Center
- Pool
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Hot Tub
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 6 | $339.00 | - |
| Guest Room | 59 | $284.00 | - |
1 of 1
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 164754 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,773,690 |
ZONING
| Zoning Code | CH |
