Shilo Inn Suites Hotel Newport 536-614 SW Elizabeth St 179 Room Hotel Newport, OR 97365 For Sale
INVESTMENT HIGHLIGHTS
- High-Quality Asset in Exceptional Condition
- Strong Revenues with Room for Growth
- Clean Offering
- Prime Location with Easy Access to Market Demand Generators
- Value Add Opportunity
EXECUTIVE SUMMARY
The Shilo Inn Suites Hotel Newport is an upper midscale hotel featuring 179 spacious guest rooms and several amenities such as an indoor pool, laundry service, and business center. The Property is a four-story interior corridor hotel located in Newport, Oregon. The Property is visible from U.S Route 101 and located nearby some of Newport’s primary demand generators, including Historic Nye Beach, Yaquina Bay Bridge, Yaquina Head Lighthouse, Hatfield Marine Science Center, and Oregon Coast Aquarium.
The subject property has achieved an average total room revenue of over $2.6 M, and once stabilized, is expected to become a top performer. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR, not only benefiting from increased market share but also higher NOI flow-through. Although the Property is in good condition, an impending renovation would present a significant value-add opportunity, further positioning the hotel as the submarket leader. The Property is Fee Simple Real Estate and clear of existing management and financing contracts.
The subject property has achieved an average total room revenue of over $2.6 M, and once stabilized, is expected to become a top performer. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR, not only benefiting from increased market share but also higher NOI flow-through. Although the Property is in good condition, an impending renovation would present a significant value-add opportunity, further positioning the hotel as the submarket leader. The Property is Fee Simple Real Estate and clear of existing management and financing contracts.
PROPERTY FACTS
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 2.48 AC |
| Building Size | 129,648 SF |
| No. Rooms | 179 |
| No. Stories | 4 |
| Year Built | 1966 |
| Corridor | Interior |
| Zoning | C-2 |
AMENITIES
- Business Center
- Pool
- Restaurant
- Room Service
- Shuttle Service
- On-Site Bar
- Meeting Event Space
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 5 | $169.00 | - |
| Guest Room | 174 | $129.00 | - |
1 of 1
Walk Score®
Very Walkable (74)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $7,215,640 |
