Building Details

Year Built 1946

Listing Agency: Pacific Real Estate Services Inc Show Phone

Listed By: Barry Domnich Show Phone

Source: Exprealty

Added: Oct 18 Changed: Oct 25 Last Checked: Nov 1 at 8:34AM

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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 Real Estate Services Inc

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Investment Insights

Based on property information with market context.

Set along the McKenzie River corridor, this vacant hotel-classified property has approximately 4,724 square feet of improvements dating to 1946. The building contains areas previously used as a restaurant and lounge, four upstairs rooms formerly used as guest rooms, and a separate living area with its own kitchen and entrance. A private well serves the property; improvements include a septic system installed in 2026, a replacement dining room roof, plumbing work, and a propane furnace.

The 2.46-acre offering consists of two tax lots on opposite sides of Highway 126. The lots have Rural Commercial and Rural Residential zoning, respectively. Deed records indicate approximately 675 feet of McKenzie River frontage. No operating business is included, and no particular use is represented as permitted or legally established.

Key Highlights

• 2.46 acres across two tax lots on opposite sides of Highway 126
• Approximately 4,724 square feet of improvements; building dates to 1946
• Approximately 675 feet of McKenzie River frontage per deed

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,610

Cap Rate

4.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$572,200 $572.2K

Cap Rate 7%

$408,714 $408.7K

Cap Rate 9%

$317,889 $317.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,724 SF

Gross rent

$70.9K $15.00/SF

− Vacancy

−$10.6K −$2.25/SF

EGI

$60.2K $12.75/SF

− OpEx

−$31.6K −$6.69/SF

NOI

$28.6K $6.06/SF

Area

Lane County, OR

Vacancy

15.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

52.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$572,200

Cap Rate 7%

$408,714

Cap Rate 9%

$317,889

Alternative Uses

Best Use

Hotel Hospitality

$408.7K

$357.6K – $476.8K (±1% cap)

NOI $28,610 @ 7.0% cap · market cap 4.40%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.20M

$1.05M – $1.39M (±1% cap)

NOI $83,658 @ 7.0% cap · market cap 12.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Hotels

Suggested Use

Top Pick Parking Lot & Garage Restaurant Travel Agency Wine and Liquor Store Real Estate Agency Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

30

Businesses Nearby

Explore this area Business Placement

Demographics for 97489, OR

848

Population

462

Households

1.8

Avg Household Size

56

Median Age

16%

College-Educated

90%

High-School Grad

29.7 sq mi

ZIP Area

29

Density / Sq Mi

$68,295

Median Household Income

$53,900

Median Earnings

$429,600

Median Home Value

Frequently Asked Questions

What type of property is this?

Hotel - The vacant building contains areas formerly used for dining, a lounge, guest rooms, and a separate living space.

Where is this hotel located?

The property is located at 45441 Mckenzie Hwy Walterville, OR.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: 2.46 acres across two tax lots on opposite sides of Highway 126; Approximately 4,724 square feet of improvements; building dates to 1946; Approximately 675 feet of McKenzie River frontage per deed