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Listed by:Real Estate 2000 Inc. • David M. Hilbert
$ 3,699,000
Est. payment /mo
New
12525 W Sunset HWY Airway Heights, WA 99001
0.53 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Airway Heights
MLS Listing ID 2503550
Style 72 - Mobile Home Park
Lot Size 0.525 Acres
Property Sub-Type Commercial Industrial
Property Description
FLEXIBLE OWNER FINANCING WITH LARGE DOWN PAYMENT, PRICED TO SELL. 2024 proforma financials show gross income of $761,799, net income of $458,818, and a 12.07% cap rate. 2023 financials show gross income of $805,977, net income of $502,218, and a 13.22% cap rate. This is a 51-unit All Seasons Mobile Home & RV Park and Motel situated on 4.17 acres, including 15 park-owned single wides, one park-owned double wide, 10 RV spaces, and a motel consisting of one single-room unit and 23 double-room units. Additional income-producing improvements include a 2,400 sq ft warehouse and a used car lot. Zoned C1-A commercial with strong redevelopment potential for retail, office, motel, automotive center, restaurants, and more, with a maximum building height allowance of 45 feet (buyer to verify all development possibilities and applications with city). City water and sewer are in place. Recent capital improvements include a $40,000 motel roof replacement and addition of 10 RV spaces in 2016, approximately $300,000 invested in new sewer lines and hookups for motel and mobile/RV units in 2017–2018, and a $25,000 road upgrade completed in 2023. Adjacent vacant lot is also available for $599,900. Property is conveniently located near Fairchild Air Force Base, Spokane International Airport, and the new Amazon facility, offering strong demand drivers for both current operations and future redevelopment potential.
Location
State WA
County Spokane
Area 561 - Spokane County
Interior
Fireplace false
Others
Senior Community No
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