Embed Size (px)
Citation preview
BEST WESTERN PLUS2300 & 2330 Market St, Mount Vernon, WA
2
THE OFFERINGBEST WESTERN PLUS
Welcome to Best Western Plus Skagit Valley Inn and Convention Center! NAI Puget Sound Properties is pleased to present an opportunity to acquire the fee-simple interest in a strategically located northend market. The 120-room hotel is located off of I-5 in Mount Vernon with easy access to multiple demand generators.
3
PROPERTY OVERVIEW
Pro
perty O
verview
1
4The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Pro
perty O
verview
1
THE PROPERTY
ADDRESS
2300 & 2330 Market St, Mount Vernon, WA 98273
GUESTROOMS
120 Total (80 Queen Size and 40 King Size)
GROSS BUILDING AREA
+/- 50,152 SF
TOTAL SITE AREA
+/- 209,959 SF
PARKING
346 Surface Spaces are available; 2.9 per Room
CONVENTION CENTER
Can accommodate up to 300 people
AMENITIES
Complimentary Breakfast, Heated outdoor pool, business center, fitness center, Guest Laundry, Complimentary Wi-Fi
SALE PRICE
$10,000,000
5The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Pro
perty O
verview
1
AERIAL OVERVIEW
Riverside DriveRiverside Drive
Market StreetMarket Street
Stew
art R
oad
Stew
art R
oad
Paci
fic P
lace
Paci
fic P
lace
6The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Pro
perty O
verview
1
80 QUEEN SIZE ROOMS
7The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Pro
perty O
verview
1
40 KING SIZE ROOMS
8The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Pro
perty O
verview
1
FANTASTIC LOCATION
9
INVESTMENT HIGHLIGHTS
Investment H
ighlig
hts
2
10The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Investment H
ighlig
hts
2
Exercise facilitiesWireless internet connection in public areas
100% smoke-free hotel Complimentary breakfast
Outdoor pool, heated Elevator
Safe deposit boxGuest laundry, nominal fee, 24 hours
24-hour front desk Ice/vending machines
Sightseeing tours Truck/RV parking
Free parkingMeeting facilities & Banquet facilities
HOTEL AMENITIES
11The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Investment H
ighlig
hts
2
ON SITE AMENITIES
Business Center Complimentary Breakfast
Self Serve Market
Laundry
12The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Investment H
ighlig
hts
2
Oversized roomsCable satellite television, flat screen TVs
In-room movies Lodgenet® movies
Upgraded in-room toiletries
Free local calls under 30 minutes
Cribs available
High-speed wireless Internet access
Wake-up calls
AM/FM alarm clock Coffee/tea maker
Hairdryer Iron, ironing board
Air Conditioning Microwave
ROOM AMENITIES
Market O
verview
213
MARKET OVERVIEW
14The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Market O
verview
3
LOCATION
Photo Credit: Patrick_McNally
Skagit Valley is located in the northwest portion of Washington State, USA. between Seattle, Washington and Vancouver, B.C. Canada. The majestic Cascade Mountains stand to the east, overlooking the fertile Skagit Valley boasting a variety of agricultural crops, well preserved historic communities and artisan restaurants and farms. Running through the valley is the powerful Skagit River flowing westward toward the beautiful San Juan Islands. World famous tulip fields blanket the valley in the spring bringing millions of tourists from around the world during the spring months. Flocks of migratory birds including Canadian geese, snow geese and trumpeter swans can be seen here in the winter that create their own draw of enthusiasts. Bald eagles soar overhead year round and great blue herons stand along the shorelines.
During the summer months, Skagit Valley has a number of ecotourism and agritourism attractions and activities from whale watching to cyclists, hikers, fishermen and family adventurers. Skagit County has long attracted artists and writers, from the painters of the Northwest School modernist art movement to Beat Generation writers who manned North Cascades fire lookouts. Today the county and its communities boast nationally-renowned galleries, museums, and arts offerings.
Aside from tourism, Skagit County is home to thriving industry with a diverse and rapidly growing economy, led by advanced manufacturing, agriculture, and maritime industries. Clean technology is emerging as a promising new sector for Skagit County businesses, while sustainable natural resource businesses remain an important part of the county’s economy.
15The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Market O
verview
3
AREA OVERVIEW SOUTH
Rive
rsid
e Dr
ive
Rive
rsid
e Dr
ive
60 Minute Drive to Seattle
90 Minute Drive to Vancouver
16The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Market O
verview
3
AREA OVERVIEW NORTH
Riverside DriveRiverside Drive
90 Minute Drive to Vancouver
17The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Market O
verview
3
DEMOGRAPHIC MAP
Custom Map
Source: ©2019 Esri.
January 10, 2020
©2020 Esri Page 1 of 1
3,065Population
$52,268Avg HH Income
34.4Median Age
34.2Median Age
46,482Population
$73,559Avg HH Income
35.7Median Age
58,370Population
$78,821Avg HH Income
18The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Market O
verview
3
1 M
ile R
adiu
s3
Mile
Rad
ius
5 M
ile R
adiu
s
KEY FACTS
3,065Population
34.4
Median Age
1,236Households
$33,725Median Disposable Income
EDUCATION
18%
No High School
Diploma 25%High School
Graduate
40%Some College 17%
Bachelor's/Grad/Prof Degree
BUSINESS
724Total Businesses
8,180Total Employees
EMPLOYMENT
47%White Collar
31%Blue Collar
22%Services
3.8%
Unemployment Rate
INCOME
$39,224Median Household
Income
$20,293Per Capita Income
$18,282Median Net Worth
KEY FACTS
46,482Population
34.2
Median Age
16,695Households
$48,716Median Disposable Income
EDUCATION
16%
No High School
Diploma 26%High School
Graduate
36%Some College 22%
Bachelor's/Grad/Prof Degree
BUSINESS
2,404Total Businesses
26,130Total Employees
EMPLOYMENT
52%White Collar
30%Blue Collar
19%Services
4.2%
Unemployment Rate
INCOME
$56,853Median Household
Income
$26,492Per Capita Income
$89,458Median Net Worth
KEY FACTS
58,370Population
35.7
Median Age
21,103Households
$51,648Median Disposable Income
EDUCATION
15%
No High School
Diploma 26%High School
Graduate
37%Some College 23%
Bachelor's/Grad/Prof Degree
BUSINESS
2,873Total Businesses
32,554Total Employees
EMPLOYMENT
53%White Collar
29%Blue Collar
18%Services
4.2%
Unemployment Rate
INCOME
$60,202Median Household
Income
$28,561Per Capita Income
$118,192Median Net Worth
KEY FACTS
3,065Population
34.4
Median Age
1,236Households
$33,725Median Disposable Income
EDUCATION
18%
No High School
Diploma 25%High School
Graduate
40%Some College 17%
Bachelor's/Grad/Prof Degree
BUSINESS
724Total Businesses
8,180Total Employees
EMPLOYMENT
47%White Collar
31%Blue Collar
22%Services
3.8%
Unemployment Rate
INCOME
$39,224Median Household
Income
$20,293Per Capita Income
$18,282Median Net Worth
KEY FACTS
46,482Population
34.2
Median Age
16,695Households
$48,716Median Disposable Income
EDUCATION
16%
No High School
Diploma 26%High School
Graduate
36%Some College 22%
Bachelor's/Grad/Prof Degree
BUSINESS
2,404Total Businesses
26,130Total Employees
EMPLOYMENT
52%White Collar
30%Blue Collar
19%Services
4.2%
Unemployment Rate
INCOME
$56,853Median Household
Income
$26,492Per Capita Income
$89,458Median Net Worth
KEY FACTS
58,370Population
35.7
Median Age
21,103Households
$51,648Median Disposable Income
EDUCATION
15%
No High School
Diploma 26%High School
Graduate
37%Some College 23%
Bachelor's/Grad/Prof Degree
BUSINESS
2,873Total Businesses
32,554Total Employees
EMPLOYMENT
53%White Collar
29%Blue Collar
18%Services
4.2%
Unemployment Rate
INCOME
$60,202Median Household
Income
$28,561Per Capita Income
$118,192Median Net Worth
KEY FACTS
3,065Population
34.4
Median Age
1,236Households
$33,725Median Disposable Income
EDUCATION
18%
No High School
Diploma 25%High School
Graduate
40%Some College 17%
Bachelor's/Grad/Prof Degree
BUSINESS
724Total Businesses
8,180Total Employees
EMPLOYMENT
47%White Collar
31%Blue Collar
22%Services
3.8%
Unemployment Rate
INCOME
$39,224Median Household
Income
$20,293Per Capita Income
$18,282Median Net Worth
KEY FACTS
46,482Population
34.2
Median Age
16,695Households
$48,716Median Disposable Income
EDUCATION
16%
No High School
Diploma 26%High School
Graduate
36%Some College 22%
Bachelor's/Grad/Prof Degree
BUSINESS
2,404Total Businesses
26,130Total Employees
EMPLOYMENT
52%White Collar
30%Blue Collar
19%Services
4.2%
Unemployment Rate
INCOME
$56,853Median Household
Income
$26,492Per Capita Income
$89,458Median Net Worth
KEY FACTS
58,370Population
35.7
Median Age
21,103Households
$51,648Median Disposable Income
EDUCATION
15%
No High School
Diploma 26%High School
Graduate
37%Some College 23%
Bachelor's/Grad/Prof Degree
BUSINESS
2,873Total Businesses
32,554Total Employees
EMPLOYMENT
53%White Collar
29%Blue Collar
18%Services
4.2%
Unemployment Rate
INCOME
$60,202Median Household
Income
$28,561Per Capita Income
$118,192Median Net Worth
DEMOGRAPHICS
19The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Offering
Terms
4
BEST WESTERN PLUS
Riverside Drive
Riverside Drive
20The information supplied herein is from sources we deem reliable. It is provided without any representation, warranty or guarantee, expressed or implied, as to its accuracy. Prospective Buyer or Tenant should conduct an independent investigation and verification
of all matters deemed to be material, including, but not limited to, statements of income and expenses. CONSULT YOUR ATTORNEY, ACCOUNTANT OR OTHER PROFESSIONAL ADVISOR. 2020\Bellevue\Offering Memorandums\Best Western Mount Vernon
Offering
Terms
4
Terms of Sale
The property is being offered “as is,” “where is” and subject to all faults. Seller makes no representation or warranty with
respect thereto. Buyer acknowledges that buyer is not relying on any representation or warranty of Seller or of any agent or
representative of Seller. All information furnished regarding property for sale is from sources deemed reliable, but no warranty
or representation is made as to the accuracy thereof and the same subject to errors, omissions, changes of prices, rental or
other conditions, prior sale or lease or withdrawal without notice.
No Contact with Seller or Tenants
All contact with seller shall be conducted through listing agents. Sellers asks that tours only be provided upon tentative
acceptance of an offer or Letter of Intent.
Offering Procedure
NAI Puget Sound Properties hereby solicits offers to purchase 2300 & 2330 Market St, Mount Vernon, WA 98273. Owner
shall consider all offers to purchase or lease the property as seller receives such offers. Inquiries concerning the procedures
outlined in this Offering Memorandum may be directed to:
Itzik Mizrahi+1 425 586 [email protected]
OFFERING TERMS
