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Listed by RE/MAX Ultimate Coastal Properties • 541-425-7494
$ 895,000
Est. payment /mo
Price Dropped by $100K
29430 ELLENSBURG AVE Gold Beach, OR 97444
5,020 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 5,020 sqft
Price per Sqft $178
MLS Listing ID 23306035
Year Built 1977
Annual Tax Amount $7,141
Tax Year 2025
Lot Size 0.450 Acres
Property Sub-Type Commercial
Property Description
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!
Location
State OR
County Curry
Area _273
Zoning 4C
Interior
Heating Heat Pump
Cooling Heat Pump
Exterior
View City, Ocean
Roof Type Metal
Garage No
Building
Story 2
Sewer Public Sewer
Water Public Water
Level or Stories 2
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://my.matterport.com/show/?m=NFGsjDXyiCA&mls=1
