Investment Overview

As the exclusive representative of the seller, Marcus & Millichap is pleased to present for sale to qualified investors the Ponderosa Motel (‘Hotel’ or ‘Property’) located at 102 East Greenwood Street in Enterprise, Oregon. This economy, independent motel is offered at $2,800,000 or $84,848 per key. The Property features 33 guest rooms and is situated on approximately 0.61 acres, encompassing approximately 11,000 square feet. Originally constructed in 1998, the Hotel includes an eight-room addition completed in 2008, expanding its capacity and revenue potential. The site offers 36 on-site parking spaces plus additional street parking, with a shed currently covering approximately one and a half spaces. Moreover, the Ponderosa Motel provides in-room refrigerators and microwaves, enhancing its appeal for extended leisure stays and outdoor recreation travelers seeking flexible lodging options. Strategically positioned in the heart of downtown Enterprise, the Property is located next to the Historic Wallowa County Circuit Courthouse, offering one of the best locations in the market. Its central positioning provides walkable access to local shops, dining, and community events while serving as a gateway to the broader Wallowa County recreation region. Enterprise benefits from strong leisure-driven demand tied to Wallowa Lake, one of Oregon’s most celebrated outdoor destinations and part of the region commonly referred to as one of the “Seven Wonders of Oregon.” The lake area attracts millions of visitors annually and offers boating, fishing, hiking, and scenic tourism throughout the year. The Wallowa Mountains, located approximately ten minutes from the Property, provide sweeping alpine scenery and outdoor adventure opportunities, including the Wallowa Lake Tramway, the steepest aerial tramway in North America, which offers panoramic 360-degree views of the surrounding peaks. The area’s tourism demand is further supported by a robust calendar of regional events and attractions that draw visitors from across the Pacific Northwest. Major annual events include Chief Joseph Days Rodeo, one of the largest and most well-known rodeos in the region, along with Mountain High Broncs and Bulls, Mule Days, and multiple regional classic car shows. Additionally, entertainment venues such as the OK Theatre regularly host live bands, concerts, and seasonal street events that bring additional visitors into downtown Enterprise. These festivals, outdoor recreation opportunities, and cultural events create consistent lodging demand from tourists, outdoor enthusiasts, and regional travelers throughout the year. Enterprise is a small, historic city in northeastern Oregon and serves as the county seat of Wallowa County. With a population of 2,052 residents, Enterprise offers an authentic pioneer-town atmosphere set against the dramatic backdrop of the Wallowa Mountains. Known for its preserved historic architecture and strong sense of community, Enterprise blends small-town charm with scenic natural beauty, making it a distinctive destination in Eastern Oregon. Enterprise embraces its cultural identity through local art galleries and artisan businesses, including TW Parks Gallery & Bronze Foundry, Parks Foundry, and The Bookloft & Gallery. Community traditions remain central to life in Enterprise, with summer concert series events held at the courthouse gazebo and local gathering spots like Terminal Gravity Brewery. The Wallowa Valley Barn Tour and Sunrise Iron Museum celebrate the area’s agricultural and pioneer history, while Alpine Meadows Golf Course offers a scenic nine-hole course where Trout Creek winds through the fairways.