4253 Highway 101 - Hospitality FOR SALE


Gearhart, OR 97138
$2,600,000 USD
503-970-1563
4253 Highway 101, Gearhart, OR for Sale
$2,600,000 USD
Hospitality - FOR SALE
1/18
null | Request Cap Rate

4253 Highway 101
Gearhart, OR 97138


HIGHLIGHTS

  • Location! 217 sf of frontage along the east side of Hwy 101 which is a main coastal arterial. 1/2 mile to beach and 1 mile north of downtown Gearhart
  • 77 parking spaces

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$241 USD /SF

# OF ROOMS

20

PRICE/ROOM

$130,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Windjammer Inn

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1985

PARKING SPACES

77

LAND DETAILS

LAND ACRES

5.49 AC

LAND SF

239,144 SF

ZONING

C2

APN/PARCEL ID

61003BA00800,61003BA00900

ASK ABOUT THIS PROPERTY

Mona KellyRE/MAX Equity GroupMore Info
503-970-1563

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Mona KellyRE/MAX Equity GroupMore Info
503-970-1563

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.