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Hotel-Motel

The Dalles Inn

112 W 2nd St, The Dalles, OR 97058

Listing Price: $5,500,000

Cap Rate
3.28%
Number of Rooms
64
RevPAR
$38
Price/Room
$85,938
RRM
6.07
Year Built
1963

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors The Dalles Inn (‘Hotel’ or ‘Property’). The independent-branded Hotel is offered at $5,500,000 or $85,938 per key. The Dalles Inn is located at 112 W 2nd St in The Dalles, Oregon just off the intersection of Interstate 84, 2nd Street, and 3rd Street, the two most trafficked streets in the city. The 64-room, interior/exterior-corridor, 4-story buildings were built in 1963 and encompass 0.66 acres. With approximately 40,000 square feet spread across the two buildings, the Property maintains a plethora of common area amenities including a heated outdoor pool, fitness center, guest laundry facility, and business center. The largest city of Wasco County, The Dalles is located in northern Oregon between the Portland metropolitan area and Hermiston at the Oregon-Washington border. Relying mostly on healthcare and retail trade to drive its economic growth, The Dalles economy is poised to continue to grow at a rate 5 points higher than the national average. While healthcare and retail trade provides over a third of the city’s economic contribution, The Dalles’ top industries also include tech, military, and farming. Among the top employers in The Dalles, Google, Fred Meyer, Orchard View Farms, and Oregon Cherry Growers employ the largest share of the local workforce within the tech and farming sectors of the economy. Meanwhile Mid-Columbia Medical Center and the US Army Corps of Engineers are the top employers of the healthcare and military field respectively. In addition to local business spurring the city’s economic output, many local attractions also provide significant contributions. For instance, the annually occurring Northwest Cherry Festival takes place downtown and sees substantial participation each year. Other attractions include the Columbia Gorge Discovery Center & Museum, Fort Dalles Museum, Pulpit Rock, and the North Wasco County Aquatic Center. For those that prefer outdoor activities, the River Front Trail provides a scenic paved trail along the Columbia River with many places to hike, walk, and bike. Lastly, the Columbia Gorge Community College is a local public community college that’s situated and surrounded by the Columbia Gorge National Scenic Area. In 2021, the Hotel recorded room revenues of over $906 thousand and a net operating income flow-through of 19.9 percent of total revenue, which equates to over $180.4 thousand, after a four percent capital replacement reserve. In the same period, the limited-service Hotel recorded a $38.82 RevPAR, representing an 86.4 percent RevPAR penetration when compared to independent, economy hotels in the Oregon East Submarket. A new investor can expect to increase daily rates and RevPAR to meet the market through revenue management strategies, not only boosting revenues but increasing NOI flow-through.

Investment Highlights

  • Four-Story, 64-Room, Independent, Limited-Service Hotel
  • Ideal Downtown Location off 2nd Street and 3rd Street, Two of the Most Trafficked Streets in The Dalles
  • Nearby Businesses Include Google, Mid-Columbia Medical Center, Oregon Cherry Growers, US Army Corps of Engineers, Orchard View Farms, and Fred Meyer
  • Upside Potential Through Renovations and Implementation of Revenue Management Strategies to Increase RevPAR and NOI Flow-Through

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (503) 200-2000

    License(s) OR: 201209561

    Oregon

Financing By

Hotel-Motel

The Dalles Inn

Listing Price: $5,500,000

Cap Rate
3.28%
Number of Rooms
64
RevPAR
$38
Price/Room
$85,938
RRM
6.07
Year Built
1963

Investment Highlights

  • Four-Story, 64-Room, Independent, Limited-Service Hotel
  • Ideal Downtown Location off 2nd Street and 3rd Street, Two of the Most Trafficked Streets in The Dalles
  • Nearby Businesses Include Google, Mid-Columbia Medical Center, Oregon Cherry Growers, US Army Corps of Engineers, Orchard View Farms, and Fred Meyer
  • Upside Potential Through Renovations and Implementation of Revenue Management Strategies to Increase RevPAR and NOI Flow-Through

Investment Overview

As the exclusive representative of the seller, Marcus & Millichap's National Hospitality Division is pleased to present for sale to qualified investors The Dalles Inn (‘Hotel’ or ‘Property’). The independent-branded Hotel is offered at $5,500,000 or $85,938 per key. The Dalles Inn is located at 112 W 2nd St in The Dalles, Oregon just off the intersection of Interstate 84, 2nd Street, and 3rd Street, the two most trafficked streets in the city. The 64-room, interior/exterior-corridor, 4-story buildings were built in 1963 and encompass 0.66 acres. With approximately 40,000 square feet spread across the two buildings, the Property maintains a plethora of common area amenities including a heated outdoor pool, fitness center, guest laundry facility, and business center. The largest city of Wasco County, The Dalles is located in northern Oregon between the Portland metropolitan area and Hermiston at the Oregon-Washington border. Relying mostly on healthcare and retail trade to drive its economic growth, The Dalles economy is poised to continue to grow at a rate 5 points higher than the national average. While healthcare and retail trade provides over a third of the city’s economic contribution, The Dalles’ top industries also include tech, military, and farming. Among the top employers in The Dalles, Google, Fred Meyer, Orchard View Farms, and Oregon Cherry Growers employ the largest share of the local workforce within the tech and farming sectors of the economy. Meanwhile Mid-Columbia Medical Center and the US Army Corps of Engineers are the top employers of the healthcare and military field respectively. In addition to local business spurring the city’s economic output, many local attractions also provide significant contributions. For instance, the annually occurring Northwest Cherry Festival takes place downtown and sees substantial participation each year. Other attractions include the Columbia Gorge Discovery Center & Museum, Fort Dalles Museum, Pulpit Rock, and the North Wasco County Aquatic Center. For those that prefer outdoor activities, the River Front Trail provides a scenic paved trail along the Columbia River with many places to hike, walk, and bike. Lastly, the Columbia Gorge Community College is a local public community college that’s situated and surrounded by the Columbia Gorge National Scenic Area. In 2021, the Hotel recorded room revenues of over $906 thousand and a net operating income flow-through of 19.9 percent of total revenue, which equates to over $180.4 thousand, after a four percent capital replacement reserve. In the same period, the limited-service Hotel recorded a $38.82 RevPAR, representing an 86.4 percent RevPAR penetration when compared to independent, economy hotels in the Oregon East Submarket. A new investor can expect to increase daily rates and RevPAR to meet the market through revenue management strategies, not only boosting revenues but increasing NOI flow-through.

Exclusively Listed By

Broker of Record

  • Adam Lewis

    Vice President/Regional Manager

    (503) 200-2000

    License(s): OR: 201209561

    Oregon

Financing By

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