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Windjammer Inn 4253 Highway 101 N 25 Room Hotel Gearhart, OR 97138 $2,000,000 ($80,000/Room) 3.99% Cap Rate

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INVESTMENT HIGHLIGHTS

Location! 217 sf of frontage along the east side of Hwy 101. 1/2 mile from beach, all units have kitchenettes.Monthly, weekly & daily rates available

77 parking spaces

EXECUTIVE SUMMARY

A unique and versatile property with 217sf of prime frontage on Hwy 101 in Gearhart, OR. This property has excellent exposure characteristics and operates as a Motel referred to as the Windjammer Inn which has been open since 1985. Located on 5.49 acres (2 tax lots) which includes a 3623sf storage building, 77 parking spaces and is approximately 1/2 mile from the beach and 1 mile north of the main downtown area of Gearhart. This property is zoned C2 for Commercial / Residential use. There are 25 units rented nightly, weekly, Bi-weekly or monthly. This is comprised of five 2 bedroom units and 20 one bedroom units all with kitchenettes, an on-site guest coin-op laundry all with a Mid-Century Modern flare decor. The buildings have a flat build-up wood frame roof structure. Possibilities are endless. Buyers are encouraged to conduct their own due diligence. TAX ID's 61003BA00900 & 61003BA00800. New owner is able to take over the business and clientele.

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access	ANNUAL	ANNUAL PER SF
Gross Rental Income	$99,999	$9.99
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$99,999	$9.99
Net Operating Income	-	-

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

Gross Rental Income
Annual	$99,999
Annual Per SF	$9.99

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$99,999
Annual Per SF	$9.99

Net Operating Income
Annual	-
Annual Per SF	-

PROPERTY FACTS

Price	$2,000,000	Lot Size	5.49 AC
Price Per Room	$80,000	Building Size	15,939 SF
Sale Type	Investment	No. Rooms	25
Cap Rate	3.99%	No. Stories	2
Sale Conditions	Business Value Included Deferred Maintenance	Year Built	1985
Property Type	Hospitality	Parking Ratio	3.94/1,000 SF
Property Subtype	Hotel	Corridor	Exterior
Building Class	C
Zoning	C2 - The purpose of the C2 zone is to provide for a broad range of commercial uses & activities to serve the needs of the City & it's visitors.

Price	$2,000,000
Price Per Room	$80,000
Sale Type	Investment
Cap Rate	3.99%
Sale Conditions	Business Value Included Deferred Maintenance
Property Type	Hospitality
Property Subtype	Hotel
Building Class	C
Lot Size	5.49 AC
Building Size	15,939 SF
No. Rooms	25
No. Stories	2
Year Built	1985
Parking Ratio	3.94/1,000 SF
Corridor	Exterior
Zoning	C2 - The purpose of the C2 zone is to provide for a broad range of commercial uses & activities to serve the needs of the City & it's visitors.

High Speed Internet Access
Patio

Public Access Wifi
Smoke-Free

Fully-Equipped Kitchen

Multi-Room Suites

ABOUT 4253 HIGHWAY 101 N , GEARHART, OR 97138

A unique and versatile property with 217sf of prime frontage on Hwy 101 in Gearhart, OR. This property has excellent exposure characteristics and operates as a Motel referred to as the Windjammer Inn which has been open since 1985. Located on 5.49 acres (2 tax lots) which includes a 3623sf storage building, 77 parking spaces and is approximately 1/2 mile from the beach and 1 mile north of the main downtown area of Gearhart. This property is zoned C2 for Commercial / Residential use. There are 25 units rented nightly, weekly, Bi-weekly or monthly. This is comprised of five 2 bedroom units and 20 one bedroom units all with kitchenettes, an on-site guest coin-op laundry all with a Mid-Century Modern flare decor. The buildings have a flat build-up wood frame roof structure in need of replacement. Possibilities are endless. Buyers are encouraged to conduct their own due diligence. TAX ID's 61003BA00900 & 61003BA00800. New owner is able to take over the business and clientele.