Ocean Shores Resort – 12.88% Cap Rate, 17.70% ROI & 3.22 GRM

4702

Property ID

13532 SqFt

Size

Description

Independent Coast Motel Walking Distance to the Beach

The Ocean Shores Resort is a midscale 40 key boutique beach motel. Originally built in 1960, this exterior corridor property has been 100% updated throughout in 2019. The motel includes 18 oceanside rooms and 18 streetside rooms with excellent visibility on the main thoroughfare in the popular Washington Coast town of Ocean Shores. Guests amenities include a beautifully renovated lobby with a continental breakfast bar, coffee service, and guest business center.

Property features a mix of stylish, beachy Queen Single Suites, Queen Double Suites, Queen Double Kitchenette rooms, and ADA compliant Queen Single Suite. Accommodations include a flatscreen TV, microwave, coffeemaker, mini-fridge, and high-speed internet (WiFi).

Excess land on oceanside provides room to expand for additional rental units for increased future revenue. Potential to expand subject to Buyer’s independent investigations.

A ground-level, ~750 sq.ft. queen double suite with 2 bedrooms, 1 bathroom, and kitchenette is currently used for Owner/Operator or on-site Manager.

The motel is ideally situated within walking distance from the Pacific Ocean, Ocean Shores Golf Course, nature center, parks, and tourist attractions. The property is centrally located near shopping, dining, galleries, as well as the Ocean Shores Convention Center. This coastal destination town is an easy weekend getaway for the major metropolitan areas of Seattle, Olympia, and Tacoma.

Location:

The seaside town of Ocean Shores, Washington includes six miles of family-friendly beaches. Beach activities include sandcastle competitions, kite festivals, clam digs, horseback riding, bicycling, and hiking. Other popular outdoor activities include golf, surfing, kayaking, fishing tours, whale tours, and bird watching. Downtown draws visitors with art galleries, antiquing, gift shops, glass blowing and jewelry studios, and a variety of dining options. Day trips from Ocean Shores include the Olympic National Park, home to a few of the only temperate rainforests in North America, and the Lake Quinault rainforest.

 

Building size is approximate and all information is obtained from sources deemed reliable but subject to buyer verification. All property tours must be arranged through the broker. DO NOT CONTACT PROPERTY OR EMPLOYEES!

Selling Broker co-op (if available) contingent upon receipt and CIP approval of Buyer Registration in advance of receipt of the marketing package, financials, and presentation of offers. No co-op without CIP approval of Buyer registration. Please call with questions regarding this requirement.

 

Address

Address: 681 Ocean Shores Blvd NW, Ocean Shores, WA 98569, USA
  • Province / State: Washington
  • City / Town: Ocean Shores
  • Postal code / ZIP: 98569
Get Directions - Open on Google Maps
  • Property ID 4702
  • Price $2,350,000
  • Property Type Hotel or Motel
  • Property status For Sale
  • Year Built 1960
  • Size 13532 SqFt
  • Land area 2.28 Acres
  • Number of Units 40

Map View

Contact

Joseph Kennedy

Property Seller
503-530-1316
joe@crystalip.com
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