Friday Harbor Suites - Friday Harbor

Property DescriptionOffering MemorandumDue Diligence
Main image Price Reduction
Located: Friday Harbor, Washington
Offering Price: $8,995,000.00
Net Operating Income: $800,000.00
Financing: USDA available with 20% down payment
Room Revenue: $1,800,000.00
Renovated: $1,000,000 previous renovation
Number of Units: 62 Suites, 3 Bungalows, 4br 3ba Owner Residence
Land Area:
Built: 1988

Executive Summary (PDF)


Summary

The subject is located in Friday Harbor, a popular tourist destination and weekend getaway site for Seattle area residents. The subject competes directly with all hotel and bed and breakfast properties located in Friday Harbor and on San Juan Island. The properties competing most directly with the subject were outlined in the neighborhood section. These properties include Orca Suites, Discovery Suites, and Friday Harbor House. The subject also competes with the Roche Harbor Resort located on the north end of the island and more than 25 bed and breakfast facilities.

It should be noted as well that the Property includes 62 Suites, a 4 bedroom 3 bath residential home, and three bungalow rental units, which are leased during the summer, and the associated revenue is accounted for in the hotel's other income line item.

Highlights

Property includes 62 Suites, a 4 bedroom 3 bath residential home, and three bungalow rental units.

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