29-Unit Exterior-Corridor
For Sale
$2,695,000
1010 8th St, Myrtle Point, OR 97458
Exterior-corridor motel with 28 guest rooms plus an owner/manager residence, set on Highway 42 with wetlands views.
Property Size10,586 SF
Days on Market22
Property Features for 1010 8th St
General Information
Standard status
Active
Size
10,586 SF
Property subtype
Hospitality
Building Details
Building Size
10,586 SF
Year Built
1966
Listing Agency:
(503) 577-7710
Listed By:
Brian Resendez, CCIM · License #WA #24481
(503) 577-7710
Source:
Svn
Added: Jul 19
Changed: Aug 8
Last Checked: Aug 9 at 5:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brian Resendez, CCIM
Investment Insights
Based on property information with market context.
Myrtle Trees Motel is a 2-story exterior-corridor, independent motel built in 1966, with a new roof installed in 2017. The property features 28 rentable guest rooms and an extensive 4bd/3ba owner/manager’s residence (~2,147 SF), along with on-site surface parking and a scenic gazebo. The motel also overlooks Coquille wetlands.
Situated along the Highway-42 gateway corridor in Myrtle Point, Oregon, the site is positioned to capture coast-bound leisure traffic on the primary connector between I-5 at Roseburg and the Oregon South Coast. The property is described as the only motel in Myrtle Point, providing a lack of direct in-town competition.
An adjoining tax lot under the same ownership includes eight legally platted lots of record, adding roughly 0.95 acres of additional development land, including adjoining vacated street right-of-way. The listing notes consistently top-rated guest feedback, with reported TripAdvisor and Google ratings of 4.6 and 4.5 respectively, and conveys fully unencumbered.
Situated along the Highway-42 gateway corridor in Myrtle Point, Oregon, the site is positioned to capture coast-bound leisure traffic on the primary connector between I-5 at Roseburg and the Oregon South Coast. The property is described as the only motel in Myrtle Point, providing a lack of direct in-town competition.
An adjoining tax lot under the same ownership includes eight legally platted lots of record, adding roughly 0.95 acres of additional development land, including adjoining vacated street right-of-way. The listing notes consistently top-rated guest feedback, with reported TripAdvisor and Google ratings of 4.6 and 4.5 respectively, and conveys fully unencumbered.
Key Highlights
- Myrtle Trees Motel: 29‑unit independent motel with 28 rentable guest rooms plus a 4BD/3BA owner/manager residence (~2,147 SF).
- Built in 1966; new roof installed in 2017.
- 2‑story exterior‑corridor motel on 3.39 ± acres along the Highway 42 gateway corridor with Coquille wetlands overlook.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$81,459
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,629,180
$1.6M
Cap Rate 7%
$1,163,700
$1.2M
Cap Rate 9%
$905,100
$905.1K
Market Conditions
NOI Build-Up for 10,586 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$190.5K $18.00/SF
− Vacancy
−$19.1K −$1.80/SF
EGI
$171.5K $16.20/SF
− OpEx
−$90.0K −$8.51/SF
NOI
$81.5K $7.69/SF
Area
Coos County, OR
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,629,180
Cap Rate 7%
$1,163,700
Cap Rate 9%
$905,100
Alternative Uses
Best Use
Hotel Hospitality
$1.16M
$1.02M – $1.36M
NOI $81,459 @ 7.0% cap · market cap 3.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,146 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97458, OR
4,729
Population
2,376
Households
2
Avg Household Size
50
Median Age
13%
College-Educated
90%
High-School Grad
360.9 sq mi
ZIP Area
13
Density / Sq Mi
$51,703
Median Household Income
$41,406
Median Earnings
$800
Median Rent
$251,400
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Myrtle Trees Motel — 1010 8th St, Myrtle Point, OR 97458
Frequently Asked Questions
What type of property is this?
Motel - Exterior-corridor motel with 28 guest rooms plus an owner/manager residence, set on Highway 42 with wetlands views.
Where is this motel located?
The property is located at 1010 8th St Myrtle Point, OR.
What is the asking price?
The asking price for this property is $2,695,000.
What are key features of this property?
This property features: Myrtle Trees Motel: 29‑unit independent motel with 28 rentable guest rooms plus a 4BD/3BA owner/manager residence (~2,147 SF).; Built in 1966; new roof installed in 2017.; 2‑story exterior‑corridor motel on 3.39 ± acres along the Highway 42 gateway corridor with Coquille wetlands overlook.
