The Marigold Hotel - JUST LISTED!

Oregon, United States

$1650000

Sale conditions: Market

Snapshot

Active

Type: Hotel
Corridor: Exterior
No. of Keys: 47
Site Size: .46 AC

The Marigold Hotel is a 47 key, 2-story, exterior corridor property zoned Central Mixed Use (C-MU) - residential use permitted. This historic hotel was completely updated in 2018, includes over $560,000 in Capital Improvements. The hotel is centrally located downtown with excellent proximity to restaurants, stores, and galleries. In addition, highway access and a designated parking garage make this an attractive property with development potential. Zoning creates the opportunity to convert to residential for about $35,000 per key!

The hotel offers an attractive mix of guest rooms, including Doubles, Queen Doubles, King Singles, and King Doubles, with a full-size jacuzzi tub. On-site Owner’s & Manager’s Quarters, with 2 bedrooms and 2 bathrooms, creates opportunity to include this unit to room mix for additional keys. The property includes a full commercial kitchen with appliances, a refrigerator, and a walk-in cooler—huge upside potential in running or leasing the restaurant space. The second-floor banquet room, currently used for storage, offers the ability to create income from the event & meeting area or additional rooms.

Hotel is not currently operating. Buyer to conduct all investigations into suitability for use.

Highlights:

General Property Information


Property Name:
Property Type: Hotel
Corridor: Exterior
Keys: 47
Building Status: Existing
No. of buildings: 1
Stories: 2
Building size(SF): 22108
Site size: .46 AC
Year Build: 1962
Year Renovated: 2018
Room Inventory Description:

1 Queen Bed (Smoking Room) - 01
2 Queen Beds - 21
2 Double Beds - 04
1 King Bed - 19
1 King Bed Suite with Jacuzzi - 01
______________________
47 total keys

Common area amenities:

Other

High Speed Internet

Breakfast Area

Restaurant

Source of Business:

Transient

Corporate

Leisure

Commercial

Sale Note:

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.

Additional Links:

Location


Country: United States
State: Oregon
Postal Code:
APN/Parcel ID:
Location Type:
Location Overview:

Brokers

Joseph P. Kennedy, CHB

President
Crystal Investment Property, LLC

ID #SP41734
OR #950700057
WA #118409

503 530 1316
info@crystalip.com


Michelle L Kennedy

Principal and Designated Broker
Crystal Investment Property, LLC

ID #DB41712
MT #RRE BRO LIC 5471
OR #970700090
WA #17065

503 530 1316
michelle@crystalip.com


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