Monday, August 28, 2017

Redevelopment Opportunity- Al's Motel hits the market

First of all, as of my writing this there are no actual re-development plans actually in the works for the Al's Motel building. This is simply a post to promote " what could be " to some of the readers of this site that may have a few more dollars in bank then I.

With that said Al's Motel at 1417 N. Division is not be the top of the line. And although I'm sure it's mostly perfectly fine guests coming and going from the business, we all have likely hear it mentioned on the news at least once. So, it's not really too big of surpirise when I found it going up for sale on the CRE website LoopNet.com this week. But, this in itself is actually big news!

That's because if you haven't noticed, many changes have been happening in the neighborhood around it. People are taking note of this stretch of Division and Ruby's closeness to both Gonzaga and Downtown. Many more people have moved in with the opening of 940 North apartments and a couple of other projects and business owners are investing in their sites as well. Including a new modern apartment building that will likely rise soon behind the Starbucks at Mission & Ruby ( more on that yet to come... )

So, the saying location, location , location is really ringing true for Al's Motel right now which is now available for sale from SVN Cornerstone for just $500,000. The motel offer 18 rooms, with 4 of those rooms being full apartments and an office area. For a reasonable price a developer could easily convert it into a boutique hotel or apartment complex or who knows?

With projects like the re-development of the Wonder Bread factory building underway there is likely not a better time to start a project like this. I don't claim to be an expert at real estate by any means but a change to the building would likely be welcomed in the neighborhood and the community.



Question:
What other Spokane area buildings / lots would you like to see be rehabbed into something new?
Tell us in the comments section of this post of our Facebook page http://www.facebook.com/inlandnorthwestbusinesswatch

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