Chemult Motel Near Crater
For Sale
Contact for pricing
109480 US-97, Chemult, OR 97731
20-room motel with cabin near Crater Lake National Park.
Property Size6,106 SF
Lot Size1.73 Acres
Price / SF$98.26
Days on Market969
Property Features for 109480 US-97
General Information
Standard status
Active
Size
6,106 SF
Total Parking Spaces
21
Lot size
1.73 Acres
Property subtype
Hospitality
Zoning
R5-Rural Residential
Investment Type
Value Add
Building Details
Year Built
1973
Buildings
1
Stories
1
Listing Agency:
Compass Commercial Real Estate Services
Listed By:
Emilio Tiscareno · License #201245391
(541) 848-4061
Source:
Crexi
Added: Jan 9, 2024
Changed: Sep 1
Last Checked: Sep 1 at 7:17PM
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 Compass Commercial Real Estate Services
Investment Insights
Based on property information with market context.
The property features two motel buildings with a total of 20 rooms, each equipped with microwaves and mini-fridges. Additionally, there is an office building and a cabin with four beds. The motel is located near ATV, snowmobile, and hiking trails, and is approximately 30 miles from Crater Lake National Park. The property spans 1.73 acres across multiple tax lots and includes 21 on-site parking spaces. The location offers high visibility with an Average Annual Daily Traffic (AADT) count of 5,418 on Highway 97. The property is suitable for hospitality and tourism ventures, offering potential for both investors and owner-users. The buildings have a total size of 6,106 square feet.
Key Highlights
- Prime location near Crater Lake National Park (30 miles) and various outdoor recreational trails.
- Two motel buildings with 20 rooms, each equipped with microwaves and mini‑fridges.
- High visibility location on Highway 97 with 5,418 AADT.
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
$36,979
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
6.16%
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%
$739,580
$739.6K
Cap Rate 7%
$528,271
$528.3K
Cap Rate 9%
$410,878
$410.9K
Market Conditions
NOI Build-Up for 6,106 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
$91.6K $15.00/SF
− Vacancy
−$13.7K −$2.25/SF
EGI
$77.9K $12.75/SF
− OpEx
−$40.9K −$6.69/SF
NOI
$37.0K $6.06/SF
Area
Klamath 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 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%
$739,580
Cap Rate 7%
$528,271
Cap Rate 9%
$410,878
Alternative Uses
Best Use
Hotel Hospitality
$528.3K
$462.2K – $616.3K
NOI $36,979 @ 7.0% cap · market cap 6.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,364 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 97731, OR
257
Population
112
Households
2.3
Avg Household Size
48
Median Age
10%
College-Educated
100%
High-School Grad
67.3 sq mi
ZIP Area
4
Density / Sq Mi
$61,739
Median Household Income
$21,339
Median Earnings
$312,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Motel - 20-room motel with cabin near Crater Lake National Park.
Where is this motel located?
The property is located at 109480 US-97 Chemult, OR.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Prime location near Crater Lake National Park (30 miles) and various outdoor recreational trails.; Two motel buildings with **20 rooms, each equipped with microwaves and mini‑fridges.**; High visibility location on Highway 97 with 5,418 AADT.
