Property is IN CONTRACT with an offer in first place back-up position. Seller will consider offers in second place back-up position only.
Outstanding Highway 101 motel in the heart of popular resort town of Newport, Oregon.
Ocean views and excellent highway frontage make this nicely maintained economy property well suited for year round clientele.
43 rooms of which 30 are ocean view. 19 of the rooms are interior corridor. All new vanities have been installed. Granite in all the rooms as well as all tile replaced in bathrooms.
Great location on Highway 101, close to tourist attractions. Newport is the home to the Oregon Coast Aquarium and the Yaquina Bay Lighthouse. Newport is 85 miles from Salem, the state’s capital and 140 miles from Portland.
Building size is approximate and all information is obtained from sources deemed reliable but subject to buyer verification. All property tours must be arranged through broker. DO NOT CONTACT PROPERTY OR EMPLOYEES!
Cap Rate: 12.17%
ROI/Cash Flow: 32.78%