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Gateway Inn at Mt. Rainier

$3,750,000

38820 Washington 706, Ashford, WA 98304

Active
Last Updated: 09/29/2025

11.52

Cap Rate

432,006

NOI

Details:
Cap Rate:    11.52%
NOI:    $432,006
Building Size:    13,367 sqft
Lot Area:    2.7 acres
Keys:    37
Year Built:    1935
Management:    Unencumbered
Floors:    2
Seller Financing:    Yes
Opportunity Zone:    No
Year Last Renovated:    1986
Highlights:
  • Midscale | Limited-Service | 37 Keys
  • 11.52% Cap, 22.89% ROI & 4.39 GRM (Actuals)
  • Seller Financing Available For Quick Close
  • At Year-Round Mt. Rainier Nat’l. Park Gate
  • Highway Frontage In High-Traffic Corridor
  • Upside With Repositioning & Cosmetics
  • Expansion Potential On Owned Acreage
  • Potential Reconversion–Store/Café Space
Description:

Mixed Lodging Asset at Year-Round National Park Entrance

Gateway Inn at Mt. Rainier is a 37-key, midscale, limited-service property located at the year-round Nisqually gate to Mount Rainier National Park, which draws over 1.5 million visitors annually. The 2.7-acre site includes cabins, hotel rooms, and RV sites, with additional land for potential expansion or lodging upgrades. Former café, store, and gift shop spaces offer reconversion potential for added revenue. The unbranded asset benefits from direct highway frontage in a high-traffic corridor with strong seasonal occupancy. Seller financing is available for qualified buyers.

Ashford is a mountain town tucked into the forested edge of Mount Rainier National Park, where visitors come to unplug, explore, and connect with nature in every season. It’s the closest town to the park’s only year-round entrance, making it a basecamp for hiking, snowshoeing, skiing, fishing, and wildlife watching throughout the year. The small downtown is walkable and welcoming, with local cafes, taprooms, and art spaces that reflect the town’s creative energy and close ties to the land. Seasonal events and festivals bring the community together, offering travelers a glimpse of life in a place shaped by the mountain. Just 90 minutes from Tacoma and the greater Seattle metro, Ashford is easily reached by scenic routes through the Nisqually Valley and South Sound.

Building size is approximate and all information is obtained from sources deemed reliable but subject to buyer verification. All property tours must be arranged through the broker. DO NOT CONTACT PROPERTY OR EMPLOYEES!

Selling Broker co-op (if available) contingent upon receipt and CIP approval of Buyer Registration in advance of receipt of the marketing package, financials, and presentation of offers. No co-op without CIP approval of Buyer Registration. State law prohibits CIP from offering a Broker co-op to any Broker not licensed in the state where the listed property is located. Please call with questions regarding this requirement.

Map:
Documents:
Title
Gateway_Inn_at_Mt._Rainier_Flyer.pdf
Offering Memorandum & Financials
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery