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9089406
5626244

3 Locations

EH
OR #201218616
Cascadia Prime LLC
Listed by Cascadia Prime LLC
$4,500,000
2144 days on market
Updated 5 days ago

262 E Main Street

Details
Property Type Hospitality, Mixed Use (+2)
Sub Type Hotel, Motel
Square Footage 23,000
Net Rentable (SqFt) 23,000
Units 15
Cap Rate 7%
NOI $315,000
Occupancy 100%
Tenancy Multi
Lease Type Net
Price per SqFt $196
Broker Co-Op Yes
Class B
Year Built 1910
Buildings 1
Stories 2
Acreage 0.380
Zoning C-1-D
Investment Type Net Lease

Developer Potential | Trophy Downtown Property | Excellent Boutique Hotel Potential | Condo Options

Marketing description

HUGE PRICE REDUCTION ALMOST $2,000,000 OFF ORIGINAL ASKING. PRICED TO SELL QUICKLY!!!!

Rare investment property! 25 room hotel property, 6 retail spaces, 6 private offices, mixed-use; all fully leased out, on Main Street in Ashland OR. Opportunities like this are unique. Well-maintained Hotel located on the Tourist Corridor in Southern Oregon. Tourists travel from all over the world to visit the highly acclaimed Oregon Shakespeare Festival with annual attendance over 380,000. 25 Art Galleries and 7 Working Studios, all close by. Outdoor recreation brings tourism opportunities to Ashland. A strong Outdoor Recreation Tourism Industry patronizes the hotel industry with Mount Ashland Ski Resort (70,000 visitors per year), 3 whitewater rafting companies and growing mountain biking scene. Southern Oregon is home to over 150 wineries attracting culinary tourist from sea to shining sea. This property is fully occupied by tenants. Listing does not include the businesses.

The Hotel is the oldest hotel in Ashland, Oregon and has been in continuous operation since its construction in 1910. The hotel occupies the second floor of the Enders Building, listed on the National Register of Historic Places in 1986. Ashland’s oldest hotel charms guests with its high ceilings, beautiful woodwork, thoughtful touches, and outstanding location – in the heart of downtown Ashland.

Ashland is the gem of Southern Oregon, the City of Ashland is a thriving town of 21,117 residents and 450,000 annual visitors as reported in Ashland’s city budget. Ashland is also home to Southern Oregon University and its 5,970 students (Winter 2018).

Selected as a top 10 finalist in Outside magazine’s search for the “Best Town in America”, Ashland dazzles as a culturally rich mecca for tourism, entertainment, entrepreneurship, and breathtaking outdoor experiences, with access to an array of resplendent natural wonders, including Mt. Ashland, the Rogue River, and Crater Lake National Park.

Ashland touts its 100+ restaurants, wineries and breweries located within the city limits with year round culinary events to visit and enjoy.

Additionally Ashland is the gateway to over 100 wineries and 250 vineyards. Visitors can day trip to wineries in Ashland, Bear Creek, Applegate or Upper Rogue wineries. Check out Ashland wineries’ summer events.

“Ashland – Top 10 Best Wine Destinations in the World”

Wine Enthusiast Magazine 2016

Enjoy 365 days of theatre, a thriving artist community and art galleries and museums, including the world renowned Oregon Shakespeare Festival, that runs March-October, with over 380,000 annual tickets sold. Attend independent films, markets, first Friday art-walk, festivals, live music and explore a diverse shopping experience.

“Ashland’s quality of life, is the stuff that dreams are made of.“

100 Best Small Art Towns In America.

Whether you love to hike, run, bike, birdwatch, raft, zipline, ski, snowboard, golf or are an equestrian, the four seasons of the 14,000 acre Ashland Watershed and surrounding outdoors offers something for everyone. Said to be the hub for endurance events, such as the Spring Thaw, Mt. Ashland HIllclimb run, Siskiyou Challenge, Ashland Mountain Challenge and many more, Ashland offers 4600’ vertical with 12.5 miles of single track along with world-class terrain. Plus ten lakes and five major rivers within a short drive.

Voted one of the “Top Trail Towns”

Trail Runner Magazine, June, 2008

The Columbia Hotel rated in the top 10 Ashland hotels on Tripadvisor.

DO NOT BOTHER TENANTS. BUSINESSES ARE NOT INCLUDED IN THIS TRANSACTION.


Investment highlights

  • 23,000 sqft. Trophy Property.

  • Main Street Frontage.

  • 10,000 Average Daily Traffic.

  • Heavy Tourist Foot Traffic.

  • Mixed-Use Possibilities.

  • Located Near 5 Theaters.

  • Fully Leased. 0 Vacancies in past 10 years.

  • 8 Offices, 1 Real Estate Office, 1 Hotel, 5 Retail Spaces.

  • Rents are below Market Value.

  • Onsite Parking Lot.

  • Vimeo Video: https://vimeo.com/639793917

  • Matterport 3D Scan: https://my.matterport.com/show/?m=RTVjji6EoWd

Listing Contacts

EH
OR #201218616
Cascadia Prime LLC
Listed by Cascadia Prime LLC

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Loan Amount
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$315,000.00
$26,250.00/mo

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DSCR
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Cap Rate
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ROI

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