29430 ELLENSBURG Ave, GoldBeach, OR 97444
sale
$895,000
|
Other
Courtesy Of RE/MAX Ultimate Coastal Properties
PRICE REDUCED $380,000! 10.5% Cap Rate with Ocean Views on Highway 101!Now priced at $895,000, down from $1,275,000, this income-producing commercial property generates $125,200 in annual gross income and $93,815 in net operating income. That's roughly a 10.5% cap rate on prime Highway 101 frontage with direct ocean views.The 5,020 sq ft building on 0.45 acres brings in two steady sources of income. The lower level is leased to an established restaurant, with multi-tiered seating for up to 150 guests, designed for great flow and ocean views from nearly every table. Upstairs, an updated 2-bedroom, 1-bath vacation rental provides a second income stream and can also serve as your own coastal getaway.The property includes 34 on-site parking spaces plus additional leased parking nearby, 115 feet of highway frontage with signage, a metal roof, heat pump heating and cooling, and public water and sewer. It's located next to the fairgrounds with 4C zoning.At just $178 per square foot and a gross rent multiplier of about 7.1, this is a rare chance to own a cash-flowing, ocean-view commercial building on the Southern Oregon Coast. Sale includes building and land only. Call today for financials and a private showing!
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Property Features
- Age: 41-50 Years Old
- Cooling System: Heat Pump
- Exterior Type: BoardBattenSiding
- Floors: 2
- Heating System: Heat Pump (Heating)
- Legal Description: 3715-01AC- TL 200
- MLSID: 23306035
- Roof Type: Metal
- View Type: Ocean
- View Type: City
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