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608-612 Cedar

Wallace, ID 83873
  • $2,845,000
  • STATUS: Active
  • ON SITE: 19 Days
  • ID#: 24-6309
UPDATED: 157 min ago
$2,845,000
  • 0
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1903
County:

School Ratings & Info

Description

Successful 14-Key Historic Hotel and Mixed Use Buildings. Anchor Tenant leases one office suite and the other Office Space has a separate 2bd apartment. Properties are located In an Opportunity Zone in a the steadily growing Wallace Visitor Base between Glacier and Seattle offering 4 seasons of recreation options with EZ I-90 access. Building 1: Historic Hotel and 2 Office Suites Nestled in the heart of picturesque North Idaho, the boutique hotel offers a serene retreat for travelers and a lucrative opportunity for investors. Located just minutes from the stunning shores of Lake Coeur d'Alene, the hotel is perfectly situated for outdoor enthusiasts and those seeking tranquility. The boutique hotel occupies the second floor of a beautifully restored historic building, blending vintage architecture with contemporary comforts. The hotel boasts 14 elegantly designed rooms, each with its own unique character and modern amenities. The ground floor features commercial tenant spaces, providing additional steady rental income. One space is rented with two year lease. The second space is recently renovated for a professional office with apartment in back. Currently operating at an occupancy rate of 27% due to the owners' semi-retired status, there is significant growth potential to increase occupancy to the hotel annual average of 63%, enhancing the hotel's revenue and profitability. The hotel enjoys a close-knit relationship with the local community, often collaborating with nearby businesses and artisans to offer exclusive experiences to the guests. Building 2: Event Center and Upstairs Luxury Apartment with a Private Roof-Top Patio A small ground-floor event center, ideal for hosting intimate gatherings (occupancy approximately up to 49 people), and an upstairs luxury one bedroom, one bathroom apartment, perfect for an owner's residence/second home or premium guest accommodation.

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© 2024 Coeur d'Alene MLS. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from Coeur d'Alene MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty Coeur d'Alene.Data last updated: 2024-07-18T13:04:48.397.
www.heartofcda.com/homes/152118337
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608-612 Cedar Wallace, ID 83873

  • Price: $2,845,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 157 min ago
  • ID#: 24-6309
0
Beds
0
Baths
0
½ Baths
0.2
Acres
1903
Built
Neighborhood:
12 - Silver Valley
County:
Shoshone
Area:
12 - Silver Valley
Property Description
Successful 14-Key Historic Hotel and Mixed Use Buildings. Anchor Tenant leases one office suite and the other Office Space has a separate 2bd apartment. Properties are located In an Opportunity Zone in a the steadily growing Wallace Visitor Base between Glacier and Seattle offering 4 seasons of recreation options with EZ I-90 access. Building 1: Historic Hotel and 2 Office Suites Nestled in the heart of picturesque North Idaho, the boutique hotel offers a serene retreat for travelers and a lucrative opportunity for investors. Located just minutes from the stunning shores of Lake Coeur d'Alene, the hotel is perfectly situated for outdoor enthusiasts and those seeking tranquility. The boutique hotel occupies the second floor of a beautifully restored historic building, blending vintage architecture with contemporary comforts. The hotel boasts 14 elegantly designed rooms, each with its own unique character and modern amenities. The ground floor features commercial tenant spaces, providing additional steady rental income. One space is rented with two year lease. The second space is recently renovated for a professional office with apartment in back. Currently operating at an occupancy rate of 27% due to the owners' semi-retired status, there is significant growth potential to increase occupancy to the hotel annual average of 63%, enhancing the hotel's revenue and profitability. The hotel enjoys a close-knit relationship with the local community, often collaborating with nearby businesses and artisans to offer exclusive experiences to the guests. Building 2: Event Center and Upstairs Luxury Apartment with a Private Roof-Top Patio A small ground-floor event center, ideal for hosting intimate gatherings (occupancy approximately up to 49 people), and an upstairs luxury one bedroom, one bathroom apartment, perfect for an owner's residence/second home or premium guest accommodation.
Exterior Features

Architectural Style Historic Buildings Building Style Multi Level Construction Materials WoodBrickFrame Exterior Features LightingSidewalksSee Remarks Foundation Details Concrete Perimeter Lot Features LevelAlley Access Road Responsibility Public Maintained Road Road Surface Type Paved Roof Tar/Gravel View Mountain(s)City View YN Yes

Interior Features

Basement UnfinishedPart Finished Basement YN Yes Common Walls 2+ Common Walls Full Size Basement Yes Heating Natural GasHot WaterRadiantFireplace(s)See Remarks Heating YN Yes Interior Features Cable Internet AvailableCable TVDSL AvailableHigh Speed InternetExtra Storage

Property Features

Building Area Total 21354 Cash Yes Conventional Yes Flood Zone2 Unknown Lot Type Commercial New Construction No Property Sub Type BusinessBld & Land REOYN No Sewer Public Sewer Short Sale YN No Subject To Aircraft Flight Zone No Subject To CCRs No Tax Annual Amount 5372.84 Tax Year 2023 Water Source Public Zoning Com-Mix

Listing provided courtesy of Ridge River Realty, LLC: .


© 2024 Coeur d'Alene MLS. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from Coeur d'Alene MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty Coeur d'Alene.Data last updated: 2024-07-18T13:04:48.397.
 
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Keller Williams Realty Coeur d'Alene
3931 N. Schreiber Way
Coeur d'Alene ID, 83815