|
|
- Salmonberry Square:
810 Broadway, Seaside, Oregon 97138
  
-
    
- A collection of distinctive spaces in
the heart of downtown seaside.
- Retail / office building in the
upscale shopping & working district.
 |
The seller
has agreed to enter into a three year master lease with a buyer,
giving the buyer a guaranteed 7% nnn return on investment of
$7,000 per month, $84,000 per year from direct deposits from the
bank. |
 |
Located in
Seaside's historic Gilbert District, which has earned regional &
national media attention. |
 |
Recent
quality, custom remodel - no expense spared. The building has an
appealing open air atmosphere to shop, work or relax in. |
 |
12,000 gross
sq. ft. and 8800 net rentable sq. ft. |
 |
Perfect for
owner / user |
 |
Offered at
$1.2M |
- Totally renovated in 2004, Salmonberry
Square is a beautiful two-story building. Zoned C-4, the building
can embrace retail, restaurant, service business, or office uses.
Currently, the downstairs spaces are leased to two retail
businesses specializing in fine gifts, antiques, and home décor.
An upstairs space is rented as a management and sales office for a
new condo hotel being built nearby.
- Salmonberry Square is located in the
heart of Seaside, just 8 blocks to the beach and within easy
walking to most of the shops and restaurants in town.
- Proforma in PDF format available
HERE
|
-
City
Center Motel, 250 First
Avenue Seaside, Oregon.
- Price: $2,500,000.

- Location: 250 First Avenue, only one
block to the beach and Convention Center, and two blocks to
Broadway. City Center Motel occupies one square block of about
33,333 square feet of PRIME real estate in the heart of Seaside.
The property fronts along First Avenue, Columbia, Second Avenue,
and N. Downing.
Summary: City Center Motel is a 40 room motel plus manager’s
apartment. It has an indoor pool/spa. City Center is comprised of
various sections dating from the 1940’s. The structures are nicely
maintained featuring clean affordable rooms. Daily vacation
rentals occur from about April-October. Weekly and monthly rentals
for many of the units occur from November-April. The property is
zoned RR (Resort Residential) which allows for the highest density
in Seaside of up to 30 units per acre, and up to four stories (45
feet).
Financials: The combination of new managers and
refurbishing efforts has brought in a record income with the gross for 2007 at $356,608. Annual gross is thus estimated to be well above $350,000.
Conservatively, figure about 50% expenses, or about $178,304 per
year net operating income for a 7.1 CAP rate. The City Center
Motel complex is the largest available parcel in Seaside this
close to Broadway, the Convention Center and the beach.
- For additional information please
contact Les Bick, broker or one of the principles.
- (503) 297-3910. bickwest@comcast.net
|
|
VENICE RV PARK - 1032 24th AVENUE
SEASIDE, OREGON
 
Price: $1,430,000.
Location: About 2.3 acres with
approximately 350 feet of frontage along Neawanna Creek at the
juncture of Hwy. 101 N. and 24th Avenue.
Rental spaces:
Six apartments (one for assistant manager).
Ten mobile home spaces.
Nineteen RV spaces.
Four tent spaces.
Zoning: Residential Medium Density (R-2). Figure about 22 residences
if submitted as a Planned Development (row housing, duplexes, town
homes).
Some outright permitted uses:
1. Single family dwelling.
2. Two family dwelling or duplex.
3. Family care facility.
4. Residential home care.
5. Family day care provider.
6. “0” lot line townhomes.
Some uses permitted under Conditional Use Permit:
1. Church.
2. School.
3. Manufactured dwelling park.
4. Nursing home and hospitals.
5. Professional offices.
6. Bed & breakfast.
Income 2/1/06-1/31/07: $202,321
Expenses: -$102,864
Net operating Income: $ 99,457
Cap rate: 7.2
Price: $1,430,000 cash to seller. Buyer to cooperate with seller, at
no cost to buyer, regarding a possible tax-deferred exchange.
The above information obtained from sources First
West Realty deems reliable, but First West Realty and its brokers do
not guarantee the figures herein. Buyer is expected to perform their
own due diligence prior to closing.
|
RiverRun - COMMERCIAL RIVERFRONT, 1000 S.
Holladay, Seaside Oregon
  
Price: $3,875,000
Property: The 1.75 acre site is
the largest property along the Necanicum River in Seaside. It
currently has a residential rental property on it as well as a large
two story storage rental building. It is located on a main
north/south street, South Holladay Drive between the Shilo Hotel and
the Sandpiper Condominiums. The site is only about a five minute
walk to the beaches.
Zoning: The property is zoned C3 (commercial) which can accommodate
several uses including hotel. The owners also have an approved
Conditional Use Permit for 53 condominiums. The survey has been
completed as well as the preliminary renderings and floor plans for
condominiums. The same design might work for hotel.
Price: $3,875,000. This figures to about $30,750 per room if a 126
room hotel were to be developed on the site.
Renderings & Photo: To follow under separate email transmissions.
Contact: Please contact Les Bick for additional information at the
above numbers.
|
|
Inn at the Shore
Look for listings coming soon..
|
|
Click Images for a
larger view |
|