608 612 Cedar is a $2,845,000, 21,354 square foot home on a 0.20 acre lot located in Wallace, ID.
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.
| Basement | Part Finished Unfinished |
| Heating Types | Hot Water Radiant See Remarks |
| Exterior Features | Public Maintained Road Lighting See Remarks Sidewalks Level 2+ Common Walls Paved |
| Views | City Mountain(s) |
| Roof | Tar/Gravel |
| Construction Types | Brick Frame Wood Concrete Perimeter |
| Water Source | Public |
| Property Type | Commercial Sale |
| Style | Multi Level Hospitality |
| Year Built | 1903 |
| HOA Fee | $0.00 |
| Taxes | $5,372.00 |
| County | shoshone |
Based on information from the Coeur d'Alene Multiple Listing Service, last updated 09/18/2024 at 04:51am MDT. Listing 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 deemed reliable but not guaranteed by the MLS or this website.
