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Shilo Inn Suites Hotel Newport 536-614 SW Elizabeth St

179 Room Hotel Newport, OR 97365 For Sale

Investment Highlights

  • High-Quality Asset in Exceptional Condition
  • Strong Revenues with Room for Growth
  • Clean Offering
  • Prime Location with Easy Access to Market Demand Generators
  • Value Add Opportunity

Executive Summary

The Shilo Inn Suites Hotel Newport is an upper midscale hotel featuring 179 spacious guest rooms and several amenities such as an indoor pool, laundry service, and business center. The Property is a four-story interior corridor hotel located in Newport, Oregon. The Property is visible from U.S Route 101 and located nearby some of Newport’s primary demand generators, including Historic Nye Beach, Yaquina Bay Bridge, Yaquina Head Lighthouse, Hatfield Marine Science Center, and Oregon Coast Aquarium.
The subject property has achieved an average total room revenue of over $2.6 M, and once stabilized, is expected to become a top performer. A prospective buyer should be able to capitalize on the anticipated increase in RevPAR, not only benefiting from increased market share but also higher NOI flow-through. Although the Property is in good condition, an impending renovation would present a significant value-add opportunity, further positioning the hotel as the submarket leader. The Property is Fee Simple Real Estate and clear of existing management and financing contracts.

Property Facts

Sale Type Investment
Property Type Hospitality
Property Subtype Hotel
Building Class B
Lot Size 2.48 AC
Building Size 129,648 SF
No. Rooms 179
Number of Floors 4
Year Built 1966
Corridor Interior

Amenities

  • Business Centre
  • Pool
  • Restaurant
  • Room Service
  • Shuttle Service
  • On-Site Bar
  • Meeting Event Space

Room Mix Information

Description No. Rooms Daily Rate SF
Suite 5 £132.23 -
Guest Room 174 £100.94 -
Walk Score ®
Very Walkable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • R451342
  • R456093
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£5,645,878

zoning

Zoning Code C-2
C-2
  • Listing ID: 33310063

  • Date on Market: 26/09/2024

  • Last Updated:

  • Address: 536-614 SW Elizabeth St, Newport, OR 97365

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