108915 Us-97 Chemult, OR 97731
- Hospitality properties
- 9,517 SF
- 1.61 lot acres
Current Use by Public Records
- Hospitality properties
Property Details for 108915 Us-97
- Year built
- 1984
- Lot size
- 1.61 lot acres
- Property size
- 9,517 SF
- Property type
- Hospitality properties
- Property subtype
- Hotels
Description
This 20-key hotel, located at 108915 US-97 in Chemult, Oregon, presents a compelling investment opportunity. The property, built in 1984 and renovated in 2021, boasts 9,517 square feet on a 1.61-acre lot (APN: R168810). It comprises 14 motel rooms and four A-frame cabins (two with upper and lower units), plus a two-bedroom manager's apartment. An on-site four-horse stable adds a unique feature. The asking price is $2,300,000 ($241.67/sq ft, $115,000/key), representing a pro-forma cap rate of 10.95% and a pro-forma NOI of $251,753. The property benefits from a prime location on Highway 97, the first hotel encountered by travelers heading to Crater Lake National Park, Cascade Mountains, and Deschutes National Forest – areas attracting hundreds of thousands of visitors annually, ensuring consistent demand. The property is zoned CT and offered fee simple. Significant potential exists to increase occupancy and profitability through targeted marketing and management strategies. Projected first-year returns include a 16.23% cash-on-cash return and a 30.47% return on equity. This owner-user opportunity offers strong income with substantial upside potential in a thriving tourism market.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Chemult
- County
- Klamath
- State
- Oregon
- Longitude
- -121.781
- Latitude
- 43.2115
