Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    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

    Nearby Similar for Sale

    • $860,000
      2,668 SF

      Corvallis Triplex on Large Lot

      Triplex with single-family home on a 0.65-acre lot.
      4250 Highway 20 NE, Corvallis, OR 97330
      View Details
    • $479,900
      2,372 SF

      Versatile Corvallis Property with Options

      Adaptable property suitable for investment, rental, or owner-occupancy.
      3676 SW 3Rd St, Corvallis, OR 97330
      View Details
    • $860,000
      2,736 SF

      Triplex on Spacious Lot

      Triplex with single-family home and duplex on 0.47 acres.
      4280 Highway 20 NE, Corvallis, OR 97330
      View Details
    • Contact for pricing

      Downtown Corvallis Investment Opportunity

      Hotel, restaurant, and apartments near Oregon State University.
      345 Northwest 2Nd St, Corvallis, OR 97330
      View Details
    • $2,000,000
      14,707 SF

      Mixed-Use Building in Corvallis Heart

      Mixed-use building in downtown Corvallis near OSU campus.
      300 SW 2Nd St, Corvallis, OR 97333
      View Details
    • $1,400,000
      6,940 SF

      Restaurant with Residential Income Potential

      Established restaurant with six apartments for storage or residential use.
      325 NW 2Nd St, Corvallis, OR 97330
      View Details
    • $2,000,000
      14,707 SF

      Mixed-Use Property in Thriving Downtown

      Mixed-use property with redevelopment potential in a thriving downtown area.
      310 SW 2Nd St, Corvallis, OR 97330
      View Details
    • $652,500
      2,072 SF

      Downtown Corvallis Multi-Tenant Office

      Multi-tenant office building in downtown Corvallis with parking.
      518 SW 3Rd St, Corvallis, OR 97333
      View Details
    • $3,600,000
      42,500 SF

      4.29 Acre Warehouse For Sale

      42,500 SF warehouse on 4.29 acres with Highway 99 frontage.
      27630 Llewellyn Rd, Corvallis, OR 97333
      View Details
    • $2,850,000

      Retail Property For Sale

      Retail property available for purchase in Corvallis, Oregon.
      536 SW 2Nd St, Corvallis, OR 97330
      View Details
    • $5,200,000

      Retail Property in Corvallis, Oregon

      Retail property available for sale in Corvallis, Oregon.
      1750-1780 SW 3Rd St, Corvallis, OR 97333
      View Details
    • $1,250,000
      10,654 SF

      Retail Property in Corvallis, Oregon

      Retail property available for sale in Corvallis, Oregon.
      544 NW 3Rd St, Corvallis, OR 97333
      View Details

    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
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    345 2Nd St
    Corvallis, OR 97330
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.