$5,700,000
Est. $31,573/moPrice reduced $800,000 from the original $6,500,000 asking price
18950 State Route 2, Monroe, WA 98272
• Listed Apr 15, 2026•102 days active · 102 cumulative
Listing Broker: KW Greater Seattle; Richard C. Buchanan; 206-459-7243; Rich@KendraToddGroup.com
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Listing Broker: KW Greater Seattle; Richard C. Buchanan; 206-459-7243; Rich@KendraToddGroup.com
About this home
Compelling investment opportunity for investors & developers seeking both immediate cash flow & long-term upside. Strategically positioned along major corridor w/ strong visibility & convenient access, the property benefits from consistent drive-by traffic and proximity to regional demand drivers, including the Evergreen State Fairgrounds, outdoor recreation, & growing residential communities. This independently operated hotel offers new ownership complete operational flexibility. Investors have option to continue operating or pursue rebranding w/ national or regional flag to enhance market positioning & revenue potential. Features solid existing structure w/ significant value-add potential through renovations, operational improvements, & repositioning strategies. Some upgrades could drive higher average daily rates (ADR) & occupancy levels, aligning the property w/ evolving guest expectations. In addition, the site offers notable redevelopment opportunities. Located along Hwy 2, a key east-west corridor, combined w/ favorable zoning & strong regional growth trends, supports consideration for alternative uses. Potential redevelopment may incl multifamily housing, mixed-use development, or a modernized hospitality concept tailored to current market demand. With continued population growth in Snohomish County & increasing lodging demand and housing in the area, the Inn represents rare opportunity to acquire a well-located asset w/ stable income characteristics.
Listed by Richard C. Buchanan • KW Greater Seattle
Listing updated: September 21, 2026 at 09:25am
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2505950
Around this home
How much should you offer?
18950 State Route 2, Monroe, WA 98272
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Layout
- Hotel/Motel
Schools
Ratings via SchoolDigger- Frank Wagner ElementaryPublic · Grades PK-5 · 0.5 mi · State rank 948 of 1,1382/10
- Park Place Middle SchoolPublic · Grades 6-8 · 0.9 mi · State rank 262 of 5144/10
- Leaders In LearningPublic · Grades 9-12 · 0.5 mi—
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
Commercial facts
As entered by the listing broker on Northwest MLS
Building
- Building square feet
- 18,079 sq ft
- Warehouse / manufacturing square feet
- 18,079 sq ft
- Year built
- 1986
- Environmental survey
- No
Parking & site
- Parking spaces
- 64
- Uncovered parking
- 64
- Acres
- 1.51 acres
- Lot square feet
- 65,776 sq ft
- Zoning jurisdiction
- City
Income & lease
- Gross scheduled income
- $1,400,400
- Net operating income
- $615,000
- Cap rate
- 9%
- Total expenses
- $111,477
Taxes & terms
- Annual taxes
- $43,377
- Tax year
- 2025
- Total assessed value
- $5,355,000
- Financing
- Cash, Conventional
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
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Sales & Tax Records for 18950 State Route 2
NWMLS via MLS Grid · Snohomish County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Sep 21, 2026Price reducedNWMLS via MLS Grid · #2505950$5,700,000
- Apr 15, 2026ListedNWMLS via MLS Grid · #2505950$6,500,000
Mortgage payment forecast
$36,613 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
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Listing Broker: KW Greater Seattle; Richard C. Buchanan; 206-459-7243; Rich@KendraToddGroup.com
Market pulse
Monroe is a balanced market.
Supply and demand are roughly in balance. Neither side has a clear edge.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells very close to list price.
Time on market: The average home goes pending in around 75 days.
Recent sales nearby
Within 1 mile · last 6 months$574,900 Sold
1 week ago
4 bd•2.25 ba•~1,440 sq ft•Single Family
17660 149th Street SE, Monroe, WA 98272
0%
Over list
29
Days on market
0.9 mi
Distance
$560,000 Sold
1 week ago
2 bd•0.75 ba•~972 sq ft•Single Family
15721 179th Avenue SE, Monroe, WA 98272
3%
Under list
105
Days on market
0.8 mi
Distance
$475,000 Sold
2 weeks ago
2 bd•1 ba•~660 sq ft•Single Family
641 North Street, Monroe, WA 98272
0%
Over list
49
Days on market
0.2 mi
Distance
$599,000 Sold
4 weeks ago
3 bd•1.75 ba•~1,368 sq ft•Single Family
15813 179th Avenue SE, Monroe, WA 98272
0%
Over list
—
Days on market
0.8 mi
Distance
$800,000 Sold
5 weeks ago
•Single Family
18440 Killarney Circle, Monroe, WA 98272
6%
Under list
98
Days on market
0.4 mi
Distance
Closed sales from MLS GRID / NWMLS within the past 6 months, matched on property type and within 1 mile. Comps approximate.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 17, 2026 at 4:09 PM PT (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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