IN CONTRACT – This property is currently in contract, the seller will consider offers in backup position only.
Economy Franchise Ideally Located in the Heart of Salem Oregon
The Howard Johnson Inn is a 69 Key franchised economy scale hotel with interior corridors. Franchise is transferable for qualified Buyer! Property features on-going capital improvements, and a 1 Bedroom / 1 Bathroom Owner’s Quarters, perfect for an Owner/Operator or on-site Manager. On-premises facilities include an outdoor pool, breakfast area, exercise room, guest laundry, truck/bus/RV parking and a business center for visitor convenience. This property is well located just a mile from downtown Salem with easy access to I-5 and Highway 22, a main thoroughfare for visitors to Salem’s downtown core. Just minutes from the Oregon State Capital, Oregon Expo Center, and Willamette University, the Howard Johnson Inn attracts both business and leisure guests. Restaurants, museums, and shopping, along with a variety of outdoor activities and year-round demand drivers, make this an attractive property location.
Salem, Oregon is located in the Mid-Willamette Valley, a fruitful slice of the Pacific Northwest that encompasses the state’s capital city as well as Marion and Polk counties. The Willamette Valley is known for its winding trails and waterfalls, craft breweries and wineries by the dozen, a free-spirited arts and culture scene, and farm fresh ingredients that make for some of the best dining in all of Oregon.
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!
Buyers Brokers must obtain fee from Buyer, no co-op.
Special Property Features Include:
- Centrally Located Near Downtown Salem
- Easy Access to Highway I-5 & Highway 22
- Solid Financials & Trending Upwards
- 1 Bed / 1 Bath Owner’s Quarters
- Franchise is Transferable for Qualified Buyer
- Updated Interior Corridor Property
Location: Metro, Highway
Type: Franchised, Select Service
Cap Rate: 9.71%
ROI/Cash Flow: 19.77%