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Portside Suites - Brookings Harbor
16220 Lower Harbor Road, Brookings, OR 97415
$2,954,000
12
10,000 SF
$246,166.67
Hotel & Motel
Full Service
Investment
2.5%
8%
$107
$63
54%
2
2004
0.70 AC
2 / 1,000 SF
-
Find Out More...
Last Verified 10/13/2009
Listing ID 16145895
Highlights
Harbor Views, Large Deck Overlooking Brookings Harbor.
Conveniently Located to Nearby Retail and Recreational Activities & Beach.
Large, 600 sq. ft. Tastefully Decorated Rooms, Top of the Line Furniture. sleeps 4.
Excellent Quality Construction Both In and Out. Low Maintenance.
Excellent Location, Just Off Hwy 101, Oregon's Pacific Coast Highway
Located at the Mouth of the Historic Chetco River as it enters into the Pacific Ocean.
Description
GO TO Video Tour at NHMB-Oregon.com.
Q1-2009 39% Increase in Gross Revenue vs. Q1-2008
Portside Suites is comprised of a new (4 year old) 12 unit luxury suite motel, site with iiprovements. Adjoning on the this site a 2800 sq.ft. completely, high quality, remodeled restaurant and lounge all on .70 Acres, of commercial land within, the Port of Brookings. The land, motel and restaurant are included in this listing for sale. The 2800 Sq. Ft. restaurant and lounge building is leased to third party on a three year lease. Small part of the restaurant and bar parking is leased from Port of Brookings Harbor. The motel and site improvements are very good high quality, and represent the Highest and Best Use of the site. There is currently more property available from Port of Brookings for expansion.
There has and continue to be a transition in the immediate subject neighborhood, Port of Brookings where the Port' s focus is pursuit of tourism and recreational activities. The region is experiencing a dramatic expansion of these industries, and economies support exists for the subject property to grow and capture a fair share of the demand for upper-end lodging near the ocean. There is additional property available for expansion from the Port of Brookings.
Much of the activity in Brookings-Harbor revolves around its port on the south side of the Chetco River as it empties into the Pacific Ocean. The port has charter boats for fishing and whale watching, a public access beach, numerous restaurants oceanfront RV parks, seafood markets a coffee shop, bookstore, salon and chamber of commerce office. The port has excellent pier fishing facilities and a boardwalk that overlooks the ports boat berths. All within walking distance of the Portside Suites.
Proforma
2009
$293,898
$293,898
$56,844
$237,054
$54,186
| Description | No. Rooms | Avg. Rate | |
|---|
| Viewing Deck | 12 | $107 | |
| Queen Sleeper - Sofa & King Bed | 12 | $107 | |
| Mirrored Bedroom Vanity & Wardrobe Doors | 12 | $107 | |
| 2 Televisions 27" & 32" | 12 | $107 | |
| Video Tour Available at NHMB-Oregon.com | 12 | $107 | |
Proposed
$2,115,500
$182,868
$738,500
Down Payment 25% $738,500
1st Conv. $1,477,000 30 yr. 7.25%
2nd SBA $738,500 20 yr, 5.7%
GO TO Video Tour at NHMB-Oregon.com.
Map of 16220 Lower Harbor Road, Brookings, OR 97415 (Curry County)
Created 3/13/2009
Additional Information for 16220 Lower Harbor Road, Brookings, OR 97415
- Active For Sale - 1 Listing
- Active For Lease - 0 Listing
- Previously Listed - 2 Historic Listings
- Sales Comparables Available - 0 RecentSales Record
View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.