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 Market455
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: Sep 30
Last Checked: Oct 4 at 3:06PM
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.
This 17-room motel contains 7,367 square feet on a 0.34-acre site and was built in 1948. Each room has a sitting area, a dining space, and a private bathroom with a bathtub, walk-in shower, and separate toilet. The building has concrete and wood-frame construction, zoned heating, and a composition roof. Zoning is C.
A gated lot provides 20 on-site parking spaces. The property is currently occupied by long-term, month-to-month tenants. Interior access is restricted until an offer is accepted; viewings are limited to the exterior before that point.
A gated lot provides 20 on-site parking spaces. The property is currently occupied by long-term, month-to-month tenants. Interior access is restricted until an offer is accepted; viewings are limited to the exterior before that point.
Key Highlights
- 17 rooms across 7,367 square feet
- 0.34‑acre site with 20 parking spaces in a gated lot
- Each room has sitting and dining areas plus a private bathroom with a bathtub and walk‑in shower
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
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Open 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
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Frequently Asked Questions
What type of property is this?
Motel - The property is fully occupied by long-term, month-to-month tenants, with private bathrooms and sitting and dining areas in each room.
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 rooms across 7,367 square feet; 0.34‑acre site with 20 parking spaces in a gated lot; Each room has sitting and dining areas plus a private bathroom with a bathtub and walk‑in shower
