Cedars Inn and Suites
64 Room Hotel | Lewiston, ID 83501 | $1,900,000 ($29,688/Room)
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,900,000
- Property Type
-
Hospitality
- Square Feet
- 21,506 SF
Listing Contacts
Andrew Post
Verified Profile
Mac Bleier
Verified Profile
- Property Info
Property Overview
The Bowman Post Group of NewGen Advisory is pleased to present for sale the Cedars Inn and Suites in Lewiston, Idaho. Conveniently located directly off Highway 12 in Downtown Lewiston, this property is easily accessible to both travelers in Idaho and Washington.
Lewiston is the second-largest city in the Northern Idaho Region, and has a growing economy. This city is the primary regional transportation, retail, health care, and entertainment center of the surrounding area. Lewiston has seen the job market increase by 2.6% over the last year. Future Job growth is expected to rise 40.6% over the next 10 years- higher than the U.S average of 33.5%. As both the economy and increases in Lewiston, the potential upside for hoteliers does as well. More demand generators and movement within Lewiston can mean more business expansion, retention, and recruitment.
Lewiston is the second-largest city in the Northern Idaho Region, and has a growing economy. This city is the primary regional transportation, retail, health care, and entertainment center of the surrounding area. Lewiston has seen the job market increase by 2.6% over the last year. Future Job growth is expected to rise 40.6% over the next 10 years- higher than the U.S average of 33.5%. As both the economy and increases in Lewiston, the potential upside for hoteliers does as well. More demand generators and movement within Lewiston can mean more business expansion, retention, and recruitment.
Property Details
- Class
- C
- Year Built/Renovated
- 1966/2011
- Stories
- 2
- Property Subtype
- Hotel
- Lot Size (sq. ft)
- 40,075 SF
- Units
- 64
Highlights
- 64 rooms, 2 stories
- Priced to Sell at $29,687 Per Key
- 2022 Room Revenue - $477,949
- 2023 Room Revenue - $422,494
- Located less than 2 miles from the Clearwater Paper Mill - the largest demand generator for all of Lewiston
- Upside Potential: Rebranding Opportunities Available / Conversion to Alternative Use
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