26-Room Motel with Manager
For Sale
$1,395,000
787 N CENTRAL Blvd, Coquille, OR 97423
CommercialSale, Coquille, OR
Property Size10,542 SF
Lot Size1.26 Acres
Price / SF$132.33
Days on Market630
Property Features for 787 N CENTRAL Blvd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
View
Territorial
Directions
Central Blvd to address.
Subdivision
_260
Standard status
Active
APN
741601
Size
10,542 SF
Lot size
1.26 Acres
Taxes and HOA fees
Tax Description
27S-13W-36DC TL4100
Tax Annual Amount
11587
Legal Description
27S-13W-36DC TL4100
Utilities
Heating system
Zoned
Amenities
security system
reader board sign
Building Details
Year built
1947
Building materials
LapSiding
Roof type
Composition
Listing Agency:
Johnson Group Real Estate, LLC
(541) 559-0111
Listed By:
Belinda Mace · License #201207349
(541) 808-4775
Added: Dec 3, 2024
Changed: Aug 25
Last Checked: Aug 25 at 11:06AM
MLS# 24205308
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 10,542-square-foot motel on 1.26 acres includes 26 guest rooms and a three-bedroom, two-bath manager’s apartment with office space. Built in 1947, the property features lap siding, a composition roof, zoned heating, and C-2 zoning. Improvements include updated flooring, a natural gas connection, new granite countertops in several rooms, and themed interiors with regional and decorative motifs.
The property is located at 787 N Central Blvd in Coquille, Oregon. Operational features include reservation and management software, a security system, and a large reader board sign that provides additional income. Furniture updates include chest-style hideaway beds in several rooms. The motel is offered as an established local hospitality business with its existing room furnishings and operational systems.
The property is located at 787 N Central Blvd in Coquille, Oregon. Operational features include reservation and management software, a security system, and a large reader board sign that provides additional income. Furniture updates include chest-style hideaway beds in several rooms. The motel is offered as an established local hospitality business with its existing room furnishings and operational systems.
Key Highlights
- 26 guest rooms on a 1.26‑acre property
- 10,542‑square‑foot motel built in 1947
- Three‑bedroom, two‑bath manager’s apartment with office space
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
$81,121
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
5.82%
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%
$1,622,420
$1.6M
Cap Rate 7%
$1,158,871
$1.2M
Cap Rate 9%
$901,344
$901.3K
Market Conditions
NOI Build-Up for 10,542 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
$189.8K $18.00/SF
− Vacancy
−$19.0K −$1.80/SF
EGI
$170.8K $16.20/SF
− OpEx
−$89.7K −$8.51/SF
NOI
$81.1K $7.69/SF
Area
Coos County, OR
Vacancy
10.00%
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%
$1,622,420
Cap Rate 7%
$1,158,871
Cap Rate 9%
$901,344
Alternative Uses
Best Use
Hotel Hospitality
$1.16M
$1.01M – $1.35M
NOI $81,121 @ 7.0% cap · market cap 5.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,588 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97423, OR
6,986
Population
2,835
Households
2.5
Avg Household Size
49
Median Age
19%
College-Educated
91%
High-School Grad
126.6 sq mi
ZIP Area
55
Density / Sq Mi
$57,665
Median Household Income
$36,250
Median Earnings
$1,150
Median Rent
$266,200
Median Home Value
Questions? Ask Rey
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Similar Off Market Nearby
- Myrtle Lane Inn — 787 N Central Blvd, Coquille, OR 97423
Frequently Asked Questions
What type of property is this?
Motel - The property combines guest accommodations with on-site manager housing and updated room finishes.
Where is this motel located?
The property is located at 787 N CENTRAL Blvd Coquille, OR.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 26 guest rooms on a 1.26‑acre property; 10,542‑square‑foot motel built in 1947; Three‑bedroom, two‑bath manager’s apartment with office space
