SOLD: $3,550,000

 

Acreage
0.87 acres
Year Built
1946
Community
Clatsop Co: Cannon Beach/Tolovana Park
MLS #
16577896
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Description

Fantastic opportunity to own two charming Cannon Beach hotels, with strong income history and stellar locations. Both hotels are perfectly situated in the heart of the Presidential Streets, with almost two full blocks of exposure on the main thoroughfare. Close to a 10% cap rate, and almost 13% cash on cash return makes this one of the best commercial buys on the North Coast.

Courtesy of Cascade Sotheby's International Realty.

Property Details
Status
Sold
Property Type
Commercial Sale, Hotel/motel
Construction
Wood
Year Built
1946
Heating
Zonal
Garage
On Site
Water
Public
Sewer
Public
Zoning and Taxes
Zoning
R2
Taxes
$11,820
Terms
Cash, Conventional

Location

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Fantastic opportunity to own two charming Cannon Beach hotels, with strong income history and stellar locations. Both hotels are perfectly situated in the heart of the Presidential Streets, with almost two full blocks of exposure on the main thoroughfare. Close to a 10% cap rate, and almost 13% cash on cash return makes this one of the best commercial buys on the North Coast.

Nearby Restaurants

Nearby restaurants recommended by Yelp reviewers.


Pig 'N Pancake

0.09 mile – 223 S Hemlock, Cannon Beach, OR 97110

EVOO

0.12 mile – 188 S Hemlock St, Cannon Beach, OR 97110

The Local Scoop

0.18 mile – Cannon Beach, OR 97110

Lazy Susan Cafe

0.18 mile – 126 N Hemlock St, Cannon Beach, OR 97110

Mariner Market

0.21 mile – 139 N Hemlock St, Cannon Beach, OR 97110


View more nearby restaurants

Nearby Shopping

Nearby shopping recommended by Yelp reviewers.


Steidel's Art

0.15 mile – 116 S Hemlock St, Cannon Beach, OR 97110

Basketcase

0.15 mile – 123 Hemlock St, Cannon Beach, OR 97138

Dena's Shop On the Corner

0.15 mile – 123 S Hemlock, Ste 101, Cannon Beach, OR 97110

La Luna Loca

0.16 mile – 107 N Hemlock St, Cannon Beach, OR 97110

The Good Life Shop

0.17 mile – 123 S Hemlock St, Ste 102, Cannon Beach, OR 97110


View more nearby shopping

Area Schools Great Schools

Nearby schools in this area:


Seaside Heights Elementary School

2000 Spruce St, Seaside, OR 97138

Broadway Middle School

1120 Broadway St, Seaside, OR 97138

Fire Mountain School

6505 Elk Flat Road, Arch Cape, OR 97102

Seaside High School

1901 North Holladay Dr, Seaside, OR 97138

Gearhart Elementary School

1002 Pacific Way, Gearhart, OR 97138

Nehalem Elementary School

36300 8th St, Nehalem, OR 97131

Warrenton High School

1700 SE Main, Warrenton, OR 97146

Neah-Kah-Nie Middle School

25111 Hwy 101n, Rockaway Beach, OR 97136

Neah-Kah-Nie High School

24705 Hwy 101 North, Rockaway Beach, OR 97136

Warrenton Grade School

820 SW Cedar St, Warrenton, OR 97146


Similar Listings to 439 S Hemlock St

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