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Economy Inn 1593 US 101 Hwy 41 Room Hotel Reedsport, OR 97467 $1,900,000 ($46,341/Room) 8.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Clean and Remodeled - Located Right on Hwy 101 - Pride of Ownership - Family Owned
EXECUTIVE SUMMARY
41 room motel that is family owned and shows prided of ownership in all aspects. Sellers have upgraded and remodeled the rooms to maximize affordable rooms that are in very nice condition. Reedsport is a major tourist attraction with the most popular sand dunes recreation area on the entire Oregon Coast, crabbing, fishing, hunting and enjoying the beautiful Oregon Coast. Motel is located right on Hwy 101 with a very high traffic count. The property has availability for truck parking in the rear of the motel, which adds to the potential customer base. Sellers are only selling due to some health issues that require a change in their lives.
PROPERTY FACTS
| Price | $1,900,000 | Lot Size | 0.52 AC |
| Price Per Room | $46,341 | Building Size | 16,656 SF |
| Sale Type | Investment | No. Rooms | 41 |
| Cap Rate | 8.70% | No. Stories | 2 |
| Property Type | Hospitality | Year Built | 1965 |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | C-2 Commercial | ||
| Price | $1,900,000 |
| Price Per Room | $46,341 |
| Sale Type | Investment |
| Cap Rate | 8.70% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 0.52 AC |
| Building Size | 16,656 SF |
| No. Rooms | 41 |
| No. Stories | 2 |
| Year Built | 1965 |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | C-2 Commercial |
AMENITIES
- Public Access Wifi
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 41 | $52.00 | - |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $902,910 | |
| Land Assessment | $131,134 | Total Assessment | $1,034,044 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$131,134
Improvements Assessment
$902,910
Total Assessment
$1,034,044
CONTACTS
-
Lyle Stratton -
Andi Costello -
Nicholle Temneanu -
Venture Commercial Real Estate
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Economy Inn | 1593 US 101 Hwy
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