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    681 Ocean Shores Blvd Ocean Shores, WA 98569

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    681 Ocean Shores Blvd Ocean Shores, WA 98569

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    • Hospitality properties
    • 13,532 SF
    • 2.28 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hospitality properties

    Property Details for 681 Ocean Shores Blvd

    Year built
    1960
    Lot size
    2.28 lot acres
    Property size
    13,532 SF
    Property type
    Hospitality properties
    Property subtype
    Hotels

    Description

    The Ocean Shores Resort, located at 681 Ocean Shores Blvd NW, Ocean Shores, WA 98569, presents a compelling investment opportunity. This established hospitality property boasts 40 exterior corridor rooms, all completely remodeled in 2019, offering immediate revenue potential. Situated on a 2.28-acre lot in Grays Harbor County, the resort comprises two buildings, each rising to twelve stories, totaling 13,532 square feet. Built in 1960, the property benefits from recent renovations, ensuring modern amenities and guest comfort. The asking price is $4,000,000, translating to $295.60 per square foot. This represents a strong value proposition in the thriving Ocean Shores market. Owner financing is available, making this an attractive option for investors seeking a flexible acquisition strategy. The resort's prime oceanside location and updated facilities position it for continued success in the competitive hospitality sector. This turnkey operation offers a rare chance to acquire a well-maintained, high-performing hotel with significant upside potential. The property's strong location and recent renovations make it an ideal investment for experienced hospitality operators or those seeking a stable, income-generating asset.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ocean Shores
    County
    Grays Harbor
    State
    Washington
    Longitude
    -124.166
    Latitude
    47.0052

    Comparable in this City

    • Value Estimation
      $5,340,000
      8,734 SF

      849 Ocean Shrs NW Blvd

      HOTEL/MOTEL • 8,734 SF
      849 Ocean Shrs NW Blvd, Ocean Shores, WA 98569
      View Details
    • Value Estimation
      $6,790,000
      48,565 SF

      685 Ocean Shrs NW Blvd

      HOTEL • 48,565 SF
      685 Ocean Shrs NW Blvd, Ocean Shores, WA 98569-9344
      View Details
    • Value Estimation
      $3,280,000
      16,195 SF

      813 Ocean Shrs NW Blvd

      HOTEL • 16,195 SF
      813 Ocean Shrs NW Blvd, Ocean Shores, WA 98569-9269
      View Details
    • Value Estimation by Request
      897 SF

      112 Pt Brown SE Ave

      HOTEL/MOTEL • 897 SF
      112 Pt Brown SE Ave, Ocean Shores, WA 98569-9633
      View Details
    • Value Estimation by Request
      2,450 SF

      580 Pt Brown NE Ave

      HOTEL/MOTEL • 2,450 SF
      580 Pt Brown NE Ave, Ocean Shores, WA 98569-9726
      View Details
    • Value Estimation by Request
      897 SF

      120 Pt Brown SE Ave

      HOTEL/MOTEL • 897 SF
      120 Pt Brown SE Ave, Ocean Shores, WA 98569-9633
      View Details

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      Established Restaurant with Potential

      Ocean Shores restaurant with apartment and income potential.
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      Land For Sale

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      Ocean Shores Development Opportunity

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    Ocean Shores, WA 98569
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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