SISTERS MOTOR LODGE & CELL TOWER 511 W. Cascade Avenue Sisters OR BUSINESS INVESTMENT MEMORANDUM Offering an 11 room motel with cell tower. In continuous operation since 1938. Mid-century modern design, turn-key operation. Provides owner/operator with onsite living accommodations with upside revenue opportunity. Contact listing broker Brian Fratzke or Dan Steelhammer for additional information and a showing. Offered at $1,420,000 Brian Fratzke, CCIM, Principal brian@fratcommercial.com O 541.306.4948 C 541.480.2526 Dan Steelhammer, Broker dan@fratcommercial.com O 541.306.4948 C 541.480.5756
NOTICES With You Every Square Foot of the Way. 963 SW Simpson Ave., Suite 220 Bend, OR 97702 541.306.4948 www. fratzkecommercial.com Brian Fratzke, CCIM brian@fratcommercial.com Nick Vaughn, Broker nick@fratcommercial.com Tom Tapia, CCIM tom@fratcommercial.com Dan Steelhammer, Broker dan@fratcommercial.com Chris Cochran, Director of Property Management chris@fratcommercial.com Kristine Parker, Office Manager kristine@fratcommercial.com DISCLAIMER: This information is from sources we deem reliable, but for which we assume no liability. This is an exclusive listing. The information contained herein is given in confidence with the understanding that all negotiations pertaining to this property be handled through Fratzke Commercial Real Estate. All measurements are approximate.
TABLE OF CONTENTS 1. OFFERING SUMMARY 2. FINANCIALS 3. THE PROPERTY: AERIALS 4. CELL TOWER GROUND LEASE 5. PROPERTY PHOTOS 6. AREA INFORMATION
OFFERING SUMMARY OFFERED AT $ 1,420,000 ESTABLISHED 1938 BUILDING SF LOT SIZE ZONING 4,528 +/- SF 0.96 Acres (2 tax lots) DC - Downtown Commercial Established in 1938, the site includes two (2) tax lots totaling 0.96 acres of land zoned Downtown Commercial (DC). There are a total of five (5) buildings including a Hotel Manager s office/home, units 1-4, unit 5, units 6-9, units 10-11. Unit configurations are as follows: The manager s home is a separate 1,500 +/- RSF two bed, one bath home. Unit 1: Two beds (double and twin) in one large room plus a kitchenette. Unit 2: A deluxe king bed, and a double bed in a separate room. Also features a bathtub. Unit 3: One deluxe queen bed, with a kitchenette. Unit 4: Queen bed with optional kitchenette; can be adjoining with Unit 3. Unit 5: Private unit. This stand-alone cottage has a deluxe queen bed and kitchenette. Unit 6: Two deluxe queen Beds in two separate rooms. Unit 7: Two deluxe queen beds in two separate rooms. Unit 8: Two deluxe queen beds in two rooms. Unit 9: Two rooms and two deluxe queen beds and a view of the mountains & patio area. Unit 10: Honeymoon Suite. Romantic private suite featuring a deluxe king bed, private deck, bathtub, and a spectacular view of the Three Sisters Mountains. Unit 11: Private suite with a deluxe queen bed, full kitchen, private deck with a spectacular view of the Cascade Mountains. The site includes a spa, courtyard BBQ, sitting area, an abundance of parking, with a welcoming & well maintained facility. There is a laundry room/cleaning facility, three (3) garages for storing tools and maintenance materials which could be converted into a revenue generating asset. There is also one (1) cellular tower located on the property with thirteen and one half (13.5) years remaining on it s lease. http://www.sistersmotorlodge.com/
FINANCIALS 2016 Gross Income: $267,467 2017 Cell Tower Rent: $9,125.28 2014-2016 financials to be released upon a signed non-disclosure agreement.
VOICESTREAM CELL TOWER GROUND LEASE RENT ROLL Initial Lease Term SF Escalator % Rent/Month Total Rent 3-21-2000-3-20-2005 150 0% $500.00 $6,000.00 First 5 year option SF Escalator % Rent/Month Total Rent 3-21-2005-3-20-2010 150 15% $575.00 $6,900.00 Second 5 year option SF Escalator % Rent/Month Total Rent 3-21-2010-3-20-2015 150 15% $661.25 $7,935.00 Third 5 year option SF Escalator % Rent/Month Total Rent 3-21-2015-3-20-2016 150 15% $760.44 $9,125.25 3-21-2016-3-20-2017 150 0% $760.44 $9,125.28 Cap Rate 6.00% 3-21-2017-3-20-2018 150 0% $760.44 $9,125.28 Sales Price $152,000 3-21-2018-3-20-2019 150 0% $760.44 $9,125.28 3-21-2019-3-20-2020 150 0% $760.44 $9,125.28 Fourth 5 year option SF Escalator % Rent/Month Total Rent 3-21-2020-3-20-2021 150 15% $874.51 $10,494.07 3-21-2021-3-20-2022 150 0% $874.51 $10,494.12 3-21-2022-3-20-2023 150 0% $874.51 $10,494.12 3-21-2023-3-20-2024 150 0% $874.51 $10,494.12 3-21-2024-3-20-2025 150 0% $874.51 $10,494.12 Fifth 5 year option SF Escalator % Rent/Month Total Rent 3-21-2025-3-20-2026 150 15% $1,005.69 $12,068.24 3-21-2026-3-20-2027 150 0% $1,005.69 $12,068.28 3-21-2027-3-20-2028 150 0% $1,005.69 $12,068.28 3-21-2028-3-20-2029 150 0% $1,005.69 $12,068.28 3-21-2029-3-20-2030 150 0% $1,005.69 $12,068.28
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Central Oregon Profile Courtesy of EDCO