345 2Nd StCorvallis, OR 97330

Property Details for 345 2Nd St

Year built

1979

Lot size

0.46 AC

Property size (Sq ft)

22,156 SF

Zone code

CMU-3

Property type

Other commercial real estate

APN

11535DC00200

APU

11535DC00200

Description

This exceptional investment opportunity presents a 64-key Rodeway Inn hotel in Corvallis, Oregon, situated near Oregon State University and the Willamette Riverfront Park. The property boasts 34,040 square feet across two two-story buildings, constructed in 1979. The hotel features a diverse range of room types, including four King-size family suites with jetted spa baths, along with King and Queen single and double rooms. A separate building houses a four-bedroom, two-bathroom manager's apartment. A significant additional feature is a separate commercial building encompassing the established China Delight Restaurant and Lounge, a Corvallis landmark for over two decades, and six one-bedroom, one-bathroom apartments located above. The property offers 72 parking spaces and is conveniently located near numerous restaurants, brew pubs, and coffee shops. The asking price for the entire property (hotel and restaurant) is $7,500,000, representing a price per square foot of $220.33. The hotel and restaurant are also available for separate purchase. This fee-simple ownership presents a compelling core+ investment opportunity in a vibrant college town setting. The property's strong location and diverse income streams make it an attractive prospect for discerning investors.

Location Insight

City

Corvallis

County

Benton

State

Oregon

Latitude

44.5662

Longitude

-123.258

CBSA code

18700

CBSA name

CORVALLIS, OR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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