Sold: Moolack Shores Motel
Moolack Shores Motel is a charming oceanfront property with twelve themed guest rooms catered toward couples. With approximately 225 feet of beach frontage, expansive views of the Pacific Ocean, and a close proximity to population centers such as Portland, Salem and Eugene this property’s location is ideal. Amenities include spacious decks for lounging, ocean views, beach access via private stairway, themed guest rooms, kitchenette, and free Wi-Fi. The buyers were looking to acquire a property along the Oregon Coast that would fit within their portfolio of property in Cannon Beach, Seaside and Lincoln City. Sellers were motivated to sell due to several factors. First, they had moved out-of-state and were absentee owners and second, this was their only asset in Oregon. The sale of the property did have challenges along the way. The motel’s small room count and somewhat secluded location along Hwy 101 just north of Newport was considered an obstacle. For the Buyer the smaller, secluded grounds was viewed as benefit, highlighting guest privacy. Brian was able to help achieve both parties real estate goals. The Buyer increased their portfolio of unique hotels along the Oregon Coast and now intends on making upgrades to the property to allow for updated rooms and lobby area. The Sellers had a successful sale of their property and were able to sell an asset that was no longer in their wheelhouse.
Brian Resendez represented both the buyer and seller in this transaction and closed May 2018 for a contracted price of 1,200,000.