17-Room Motel with Gated
For Sale
$975,000
Pending
2178 Winchester Ave, Reedsport, OR 97467
C-zoned hospitality property with extended-stay occupancy and secure on-site parking.
Property Size7,367 SF
Days on Market410
Property Features for 2178 Winchester Ave
General Information
Standard status
Pending
Size
7,367 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
C
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$5,360
Building Details
Building Size
7,367 SF
Year Built
1948
Tenancy
Multi
Listing Agency:
Pacific Coast Real Estate & Development, LLC
(541) 217-7710
Listed By:
Joseph Aguirre · License #201012096
(541) 217-7710
Source:
Metanars
Added: Jul 7, 2025
Changed: Aug 13
Last Checked: Aug 13 at 5:17AM
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 Pacific Coast Real Estate & Development, LLC
Investment Insights
Based on property information with market context.
The Fir Grove Motel is a 17-room hospitality property built in 1948, with a gated lot providing 20 on-site parking spaces. Guest rooms include a sitting area, dining area, and private bathroom equipped with a bathtub, walk-in shower, and separate toilet.
The property is located at 2178 Winchester Ave in Reedsport, Oregon, near local shops and essential amenities. The Oregon Dunes National Recreation Area is minutes away, while North Bend Municipal Airport is approximately 30 minutes from the motel.
All rooms are occupied by long-term residents under month-to-month arrangements. The property is zoned C, and interior access is restricted until an offer has been accepted; current viewing is limited to the exterior.
The property is located at 2178 Winchester Ave in Reedsport, Oregon, near local shops and essential amenities. The Oregon Dunes National Recreation Area is minutes away, while North Bend Municipal Airport is approximately 30 minutes from the motel.
All rooms are occupied by long-term residents under month-to-month arrangements. The property is zoned C, and interior access is restricted until an offer has been accepted; current viewing is limited to the exterior.
Key Highlights
- 17‑room motel on 2178 Winchester Ave, Reedsport, OR 97467
- 20 on‑site parking spaces within a gated lot
- Rooms include sitting and dining areas plus private bathrooms
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
$55,429
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
5.69%
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%
$1,108,580
$1.1M
Cap Rate 7%
$791,843
$791.8K
Cap Rate 9%
$615,878
$615.9K
Market Conditions
NOI Build-Up for 7,367 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
$132.6K $18.00/SF
− Vacancy
−$15.9K −$2.16/SF
EGI
$116.7K $15.84/SF
− OpEx
−$61.3K −$8.32/SF
NOI
$55.4K $7.52/SF
Area
Douglas County, OR
Vacancy
12.00%
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%
$1,108,580
Cap Rate 7%
$791,843
Cap Rate 9%
$615,878
Alternative Uses
Best Use
Hotel Hospitality
$791.8K
$692.9K – $923.8K
NOI $55,429 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,254 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97467, OR
5,602
Population
2,816
Households
2
Avg Household Size
53
Median Age
14%
College-Educated
93%
High-School Grad
327.9 sq mi
ZIP Area
17
Density / Sq Mi
$58,333
Median Household Income
$41,441
Median Earnings
$750
Median Rent
$224,100
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Best Western Salbasgeon Inn & Suites Of Reedsport — 1400 US-101, Reedsport, OR 97467
- Fir Grove Motel — 2178 Winchester Ave, Reedsport, OR 97467
- Anchor Bay Inn — 1821 Winchester Ave, Reedsport, OR 97467
- Best Budget Inn — 1894 Winchester Ave, Reedsport, OR 97467
- Economy Inn Reedsport — 1593 Oregon Coast Hwy, Reedsport, OR 97467
Frequently Asked Questions
What type of property is this?
Motel - C-zoned hospitality property with extended-stay occupancy and secure on-site parking.
Where is this motel located?
The property is located at 2178 Winchester Ave Reedsport, OR.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 17‑room motel on 2178 Winchester Ave, Reedsport, OR 97467; 20 on‑site parking spaces within a gated lot; Rooms include sitting and dining areas plus private bathrooms
