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    345 2Nd St Corvallis, OR 97330

    Sponsored
    For Sale
    $7,500,000

    Downtown Corvallis hotel, strong ROI.

    Property size:
    34,040 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 64-key Rodeway Inn hotel in Corvallis, Oregon, situated near Oregon State University and the Willamette Riverfront Park. The property boasts 34,040 square feet across two two-story buildings, constructed in 1979. The hotel features a diverse range of room types, including four King-size family suites with jetted spa baths, along with King and Queen single and double rooms. A separate building houses a four-bedroom, two-bathroom manager's apartment. A significant additional feature is a separate commercial building encompassing the established China Delight Restaurant and Lounge, a Corvallis landmark for over two decades, and six one-bedroom, one-bathroom apartments located above. The property offers 72 parking spaces and is conveniently located near numerous restaurants, brew pubs, and coffee shops. The asking price for the entire property (hotel and restaurant) is $7,500,000, representing a price per square foot of $220.33. The hotel and restaurant are also available for separate purchase. This fee-simple ownership presents a compelling core+ investment opportunity in a vibrant college town setting. The property's strong location and diverse income streams make it an attractive prospect for discerning investors.

    Property Features for 345 2Nd St

    General Information

    Property type
    Hotels
    Square Feet
    34,040 SF

    Building Details

    Year Built
    1979
    Buildings
    2
    Stories
    2

    HighLights

    • 63‑room Rodeway Inn hotel.
    • Four‑bedroom, two‑bathroom manager's apartment.
    • Established China Delight Restaurant & Lounge with six one‑bedroom apartments above.
    • Excellent walkability to restaurants, brewpubs, and coffee shops.
    • Adjacent to Willamette Riverfront Park.
    • Close proximity to Oregon State University.
    Property Profile Location Intelligence

    Current Use by Public Records

    Rodeway Inn Willamette ... Hotel

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Spa & Massage Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Corvallis
    County
    Benton
    State
    Oregon
    Longitude
    -123.2579604
    Latitude
    44.5662409

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    FAQs

    What type of property is this?
    Hotel - Downtown Corvallis hotel, strong ROI.
    Where is this hotel located?
    The property is located at 345 2Nd St Corvallis, OR.
    What is the asking price?
    The asking price for this property is $7,500,000.
    What are key features of this property?
    This property features: 63-room Rodeway Inn hotel.; Four-bedroom, two-bathroom manager's apartment.; Established China Delight Restaurant & Lounge with six one-bedroom apartments above.
    Request Owner's contact information
    345 2Nd St Corvallis, OR 97330
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    Corvallis, OR 97330
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    345 2Nd St Corvallis, OR 97330
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