203-209 NW 3rd Ave - Hospitality FOR SALE


Portland, OR 97209- Old Town-Chinatown
$4,500,000 USD
503-530-1316
203-209 NW 3rd Ave, Portland, OR for Sale
$4,500,000 USD
Hospitality - FOR SALE
1/26
null | 9.63% Cap Rate

203-209 NW 3rd Ave
Portland, OR 97209
Old Town-Chinatown


HIGHLIGHTS

  • 9.63% Cap Rate | 11.77% ROI | 4.18 GRM (Actuals)
  • Economy | Select-Service | 38 Keys + 24 Bunks (62 Beds Total) | Flexible Ensuite, European, and Dorm-style Rooms
  • Qualified Opportunity Zone Location | Ideal For Multifamily, Co-Housing, Or Adaptive Reuse
  • Walkable Old Town Chinatown Neighborhood | 3 Blocks To Waterfront Park & River
  • Historic Property With LEED Silver Certification | Independent Hotel - Brand Does Not Transfer
  • TripAdvisor's #1 Ranked Portland Metro Hostel

OVERVIEW

Historic LEED Silver Certified Hotel In The Heart Of Portland - JUST LISTED! The Society Hotel – Portland is a 62-bed independent, economy-scale, interior-corridor hospitality asset housed in a historic, 4-story, 11,924 SF brick building in downtown Portland’s Old Town Chinatown neighborhood. Extensively renovated to achieve LEED Silver certification, the property features a highly flexible room mix of custom bunkbeds, traditional rooms with shared private baths, and premium ensuite king units. On-site amenities include a ground-floor cafe and bar with a full liquor license, a historic lobby lounge, and a panoramic rooftop deck featuring a year-round outdoor spa and sauna lounge area. Rooftop deck offers live music. Event/Meeting space on the roof may be rented for gatherings, music, yoga & classes, retail pop-ups, and photoshoots. Operating 100% unencumbered by franchise flags or management agreements, the asset offers ultimate operational flexibility and a proven independent brand identity. Positioned just three blocks from Tom McCall Waterfront Park and two blocks from the MAX Light Rail system in downtown Portland, the building’s layout and federal Opportunity Zone designation support a continued boutique lodging rebrand or an immediate adaptive-reuse conversion into senior, student, multifamily, or transitional housing to capture steady regional demand anchored by Portland's $5.5B visitor economy.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$377 USD /SF

# OF ROOMS

38

PRICE/ROOM

$118,421 {currency}

CAP RATE

9.63%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Society Hotel – Portland

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1881

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

CX

APN/PARCEL ID

R140396

ASK ABOUT THIS PROPERTY

Joseph KennedyCrystal Investment PropertyMore Info
503-530-1316

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Joseph KennedyCrystal Investment PropertyMore Info
503-530-1316

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