550 SE Highway 101 - Hospitality FOR SALE


Lincoln City, OR 97367
$4,999,000 USD
858-210-8282
550 SE Highway 101, Lincoln City, OR for Sale
$4,999,000 USD
Hospitality - FOR SALE
1/40
null | 3.22% Cap Rate

550 SE Highway 101
Lincoln City, OR 97367


HIGHLIGHTS

  • Great Size Parking Lot
  • Prime Coastal Location
  • Excellent Condition
  • Amazing Potential for Improvement
  • Positive Cash Flow
  • Full Absentee Ownership

OVERVIEW

This Lincoln City hotel presents a compelling opportunity to acquire an established hospitality asset combining consistent operating performance, expansion potential, and a strategic location along Oregon’s iconic Highway 101. Situated on approximately 3.35 acres, the property features 51 generously sized guest rooms with desirable amenities including kitchenettes, private patios, and whirlpool tubs, allowing the hotel to accommodate both short-term coastal visitors and extended-stay guests. Despite operating under absentee ownership with minimal marketing, the property has maintained consistent profitability, presenting an opportunity for a more hands-on operator to further enhance performance. A significant value-add component is the additional connected land and existing infrastructure that may accommodate up to 21 additional guest rooms, subject to applicable approvals and verification. This expansion potential provides an opportunity to increase room inventory and overall revenue within an established coastal tourism market. The property underwent renovations in 2021 and offers additional upside through enhanced marketing, operational improvements, and potential brand conversion. With franchise interest already expressed, a new operator may have the opportunity to reposition the hotel under a recognized national brand, potentially strengthening visibility, occupancy, ADR, and RevPAR. With its existing operations, spacious accommodations, Highway 101 location, recent improvements, and potential for future expansion, this Lincoln City hotel offers investors and hospitality operators a unique opportunity to acquire an established asset with multiple avenues for long-term growth and increased cash flow.

FOR SALE DETAILS

PRICE

$4,999,000 USD

PRICE/SF

$219 USD /SF

# OF ROOMS

51

PRICE/ROOM

$98,020 {currency}

CAP RATE

3.22%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Palace Inn & Suites

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

4

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

2002

PARKING SPACES

51

LAND DETAILS

LAND ACRES

3.35 AC

LAND SF

145,926 SF

ZONING

G-C,R-M

APN/PARCEL ID

R157983

ASK ABOUT THIS PROPERTY

Crystal LeeAmerican Real Estate GroupMore Info
858-210-8282

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Crystal LeeAmerican Real Estate GroupMore Info
858-210-8282

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