29430 Ellensburg Ave 5,354 SF 100% Leased Retail Building Gold Beach, OR 97444 $1,195,000 ($223.20/SF) 8% Cap Rate

Madison Bordner, CIC International Realty, Oregon Commercial Group presents a stabilized mixed use Oregon coast investment property for Sale. The property can be owner user as a residential home on the second floor. The property has three main sources of income:
Tenant ‘Spinners Seafood Steak & Chop House’ $5,400/m NNN lease +/- 4 years remaining with one 7 years renewal option
One of the two residential units (2nd floor) has been used as Airbnb. Avg monthly income: $2,500 after fees. The other studio unit is rented for $500 a month (tenant related to owner)
Food Truck rental toward the right front corner of parking lot $500/m last tenant vacated the pad is available now.
Spinner’s Seafood Steak and Chop House restaurant & lounge, a fine dining restaurant with great prices had been owner-operator for years until three years ago when the owner sold business to the current owner. The restaurant has been established with long time repeated customers at the city of Gold Beach, Oregon. In the event buyers like to have the restaurant & lounge space, business owners will entertain offers for a ‘buy-out’ to yield for new operator. (Restaurant biz is NOT on the market for sale, please do not disturb restaurant business).
There are two residential units on the second floor. One is being used as Airbnb accommodating at least 4 persons. The other unit is rented out for $500 a month. New owners can use these units as their own residence or vacation home and still maintain it as Airbnb. The units have a Pacific Ocean view.
Front right pad of the paved parking lot was rented to a food truck month to month tenancy for $500 a month. The pad is now available for new food truck use.
Three sources of stabilized mixed-use income reduces investment risk.
The property is located in the main thoroughfare coming into town at Hwy 101 (Ellensberg Avenue). Gold Beach is Curry County's main hub with the newer Curry General Hospital. Jerry’s Jet Boat Excursion attracts many visitors in town all year in addition to many visitors coming to the beautiful Oregon coast.
Owner User buyer, either to use the residential units or take over the restaurant/Lounge business (if so or if possible) can obtain SBA7a or SBA504 financing. No seller financing. Broker shall facilitate Buyer to obtain financing.
Detailed 16 pages information package available upon request. Please contact Broker.