Spinner's Property at Gold Beach Oregon
Mixed Use | 8.00% CAP | 5,650 SqFt
Marketing description
Madison Bordner, CIC International Realty, Oregon Commercial Group presents a stablized mixed use Oregon coast investment property for Sale. The property can be owner user or as 2nd home using the airbnb unit and the studio unit rental on the second floor. The property has three main sources of income:
- Tenant ‘Spinners Seafood Steak & Chop House’ $5,400/m NNN lease +/- 4 years remaining with one 7 years renewal option
- One of the two residential units (2nd floor) has been used as Airbnb. Avg monthly income: $2,500 after fees. The other studio unit is rented for $500 a month (tenant related to owner)
- Food Truck rental toward right front corner of parking lot $500/m last tenant vacated the pad is available now.
Spinner’s Seafood Steak and Chop House restaurant & lounge, a fine dining with great prices had been owner operator for years until three years ago when the owner sold business to the manager as now current owner. The restaurant has been established with long time repeated customers at the city of Gold Beach, Oregon. In the event Buyer like to have the restaurant & lounge space, business owner will entertain offer for a ‘buy-out’ to yield for new operator. (Restaurant biz is NOT on the market for sale, please do not disturb restaurant business).
There are two residential units on the second floor. One is being used as Airbnb accommodating at least 4 persons. The other unit is rented out for $500 a month. New owner can use these units as their own residence or vacation home still maintain it as Airbnb. The units have Pacific Ocean view.
Front right pad of the paved parking lot was rented to a food truck month to month tenancy for $500 a month. The pad is now available for new food truck use.
Three sources of stablized mixed use income reduces investment risk.
The property is located in the main thoroughfare coming into town at Hwy 101 (Ellensberg Avenue). Gold Beach is Curry County main hub with the newer Curry General Hospital. Jerry’s Jet Boat Excursion attracts many visitors in town all year in addition of many visitors coming to the beautiful Oregon coast.
Owner User buyer, either to use the residential units or take over the restaurant/Lounge business (if so or if possible) can obtain SBA7a or SBA504 financing. No seller financing. Broker shall facilitate Buyer to obtain financing.
Detail 16 pages information package available upon request. Please contact Broker.
Investment highlights
- Rare Opportunity multi mixed use commercial residential property downtown Gold Beach to buy.
- Located at the main thoroughfare Hwy 101 (Ellensberg Avenue) Gold Beach, Oregon.
- Three sources of stablized income reduce investment risk.
- Hwy 101 has high volume of traffic during summer months from out of town visitors coming to the Oregon coast for the Jet Boat ride on the famous Oregon Rogue River and enjoy the beautiful beaches.
- Tenant Spinner’s Seafood Steak & Chop House is the best fine dining restaurant & Lounge at Gold Beach Oregon with no competition.
- Airbnb used unit and the studio rental allows new owner to use as their vacation or second home, if desired. Both floors of the property have a westward view over the mobile home park to the Pacific Ocean with beautiful sunset and sunrise view.
- Nearby establishment are Curry General Hospital, Jerry’s Jet boats Excursion, Tu Tu Lodge
Owner use as 2nd home and as commercial real estate investment at the same time.
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