Motel with Retail
New
For Sale
$750,000
2885 S Santiam Hwy, Lebanon, OR 97355
Commercial, Lebanon, OR
Property Size4,152 SF
Lot Size0.96 Acres
Price / SF$180.64
Days on Market2
Property Features for 2885 S Santiam Hwy
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
HC
Parking
18
View
Territorial
Standard status
Active
Size
4,152 SF
Lot size
0.96 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8492
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump
Amenities
on-site laundry
Building Details
Year built
1948
Roof type
Composition
Listing Agency:
KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
(541) 738-7770
Listed By:
LAURA GILLOTT · License #920300248
(541) 990-7785
Added: Oct 14
Last Checked: Oct 15 at 1:06AM
MLS# 846575
Copyright © 2026 Willamette Valley Multiple Listing Service. 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 8+ room motel has 4,152 square feet of building area, a glass-front retail component, and on-site laundry. The property includes 17 off-street parking spaces and one ADA space. Heating and cooling are provided by a heat pump; the building dates to 1948 and has a composition roof.
The offering also includes a .32-acre vacant lot. Both parcels carry HC zoning, and the reported property size is 0.96 acres. The property is located at 2885 S Santiam Hwy in Lebanon, Oregon.
The offering also includes a .32-acre vacant lot. Both parcels carry HC zoning, and the reported property size is 0.96 acres. The property is located at 2885 S Santiam Hwy in Lebanon, Oregon.
Key Highlights
- 8+ room motel with 4,152 square feet of building area
- Glass‑front retail space and on‑site laundry
- 17 off‑street parking spaces plus one ADA space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,240
Cap Rate
4.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$624,800
$624.8K
Cap Rate 7%
$446,286
$446.3K
Cap Rate 9%
$347,111
$347.1K
Market Conditions
NOI Build-Up for 4,152 SF
Gross rent
$74.7K $18.00/SF
− Vacancy
−$9.0K −$2.16/SF
EGI
$65.8K $15.84/SF
− OpEx
−$34.5K −$8.32/SF
NOI
$31.2K $7.52/SF
Area
Linn 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 Rate 5%
$624,800
Cap Rate 7%
$446,286
Cap Rate 9%
$347,111
Alternative Uses
Best Use
Hotel Hospitality
$446.3K
$390.5K – $520.7K
NOI $31,240 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,669 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 97355, OR
32,413
Population
13,623
Households
2.4
Avg Household Size
41
Median Age
18%
College-Educated
91%
High-School Grad
214.3 sq mi
ZIP Area
151
Density / Sq Mi
$64,307
Median Household Income
$39,934
Median Earnings
$1,267
Median Rent
$332,700
Median Home Value
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Similar Off Market Nearby
- Gillcott Realty — 2796 S Main Rd, Lebanon, OR 97355
- Valley Inn — 2885 S Santiam Hwy, Lebanon, OR 97355
- Shanico Inn — 1840 S Main St, Lebanon, OR 97355
Frequently Asked Questions
What type of property is this?
Motel - A glass-front retail area and on-site laundry accompany the lodging operation.
Where is this motel located?
The property is located at 2885 S Santiam Hwy Lebanon, OR.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 8+ room motel with 4,152 square feet of building area; Glass‑front retail space and on‑site laundry; 17 off‑street parking spaces plus one ADA space
