17-Room Motel with Gated
For Sale
$975,000
2178 WINCHESTER Ave, Reedsport, OR 97467
CommercialSale, Reedsport, OR
Property Size7,367 SF
Lot Size0.34 Acres
Price / SF$132.35
Days on Market416
Property Features for 2178 WINCHESTER Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C
View
City
Directions
Hwy 101 to Address
Subdivision
_265
Standard status
Active
APN
R70617
Size
7,367 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Description
REEDSPORT ADD TO RDSPT, BLOCK 25, LOT PTS 5-7, ACRES 0.34
Tax Annual Amount
5360
Legal Description
REEDSPORT ADD TO RDSPT, BLOCK 25, LOT PTS 5-7, ACRES 0.34
Utilities
Heating system
Zoned
Building Details
Year built
1948
Building materials
Concrete, WoodFrame
Roof type
Composition
Listing Agency:
Pacific Coast Real Estate & Development, LLC
(541) 808-3297
Listed By:
Joseph Aguirre · License #201012096
(541) 217-7710
Added: Jul 7, 2025
Changed: Aug 25
Last Checked: Aug 26 at 4:06AM
MLS# 217389398
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The Fir Grove Motel is a 17-room lodging property at 2178 Winchester Avenue in Reedsport, Oregon. Each room includes a sitting area, dining space, and private bathroom with a combination bathtub, walk-in shower, and separate toilet. The site has a gated parking area with 20 spaces, while the building includes concrete and wood-frame construction, zoned heating, and a composition roof. Built in 1948, the property contains 7,367 square feet on 0.34 acres and is zoned C.
The motel is currently fully occupied by long-term, month-to-month tenants. The property is near local shops and essential amenities, with the Oregon Dunes National Recreation Area a short distance away and North Bend Municipal Airport approximately 30 minutes away. The sale is cash-only and as-is; interior access is restricted until an offer has been accepted, with drive-by viewing available beforehand.
The motel is currently fully occupied by long-term, month-to-month tenants. The property is near local shops and essential amenities, with the Oregon Dunes National Recreation Area a short distance away and North Bend Municipal Airport approximately 30 minutes away. The sale is cash-only and as-is; interior access is restricted until an offer has been accepted, with drive-by viewing available beforehand.
Key Highlights
- 17‑room motel with 7,367 square feet of building area
- 20 on‑site parking spaces within a gated lot
- Fully occupied by long‑term, month‑to‑month tenants
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
Property Profile
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
- 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
- Best Western Salbasgeon Inn & Suites Of Reedsport — 1400 US-101, Reedsport, OR 97467
Frequently Asked Questions
What type of property is this?
Motel - Existing lodging improvements include private bathrooms, in-room sitting and dining areas, and secured 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 with 7,367 square feet of building area; 20 on‑site parking spaces within a gated lot; Fully occupied by long‑term, month‑to‑month tenants
