Elks Lodge Sells Portland Hotel For $2.1M
16321 Southeast Stark Street, Portland, Oregon 97233, United States
$2,100,000
$141/SF
Building Size
14,869 SF
Asset Type
Hotel
Closing
Aug 16, 2022
AI
The property involved in the sale is a hotel located at 16321 SE Stark St in Portland, OR. The property sits on approximately 2.3 acres of land. The sale was completed on 08/17/2022.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $2,100,000
- Square Footage: 14,869
- Price per Square Foot: $141
- Address: 16321 SE Stark St, Portland, OR
- Market: Portland, OR
The seller of the property was the Benevolent & Protective Order of Elks of The United States of America. The transaction was facilitated by brokers Greg Nesting and Gabe Schnitzer from Norris & Stevens.
Players
Portland Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.55%
Cash-on-Cash
-2.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93