391 Mill Creek Drive, Prospect, OR 97536
$2,800,000
Property Type:
Commercial Sale
Square Footage:
13,400
Lot Size (sq. ft.):
234,788
Status:
Closed
Current Price:
$2,800,000
List Date:
5/20/2024
Last Modified:
11/10/2024
Overview
Description
Listing Details MLS# 220182900
General Property Information
- Building Area Total
- 13400
- Building Area Source
- Other
- Building Area Units
- Square Feet
- # of Units Total
- 27
- Year Built
- 1888
- New Construction YN
- No
- Zoning
- RS
- Tax Annual Amount
- 12192
- Tax Year
- 2023
- Potential Tax Liability YN
- No
- Assessment YN
- No
- CC&R's YN
- No
- Preferred Escrow Company & Officer
- Ticor Title - Eva Vineyard
- FIRPTA YN
- No
- Sign On Property YN
- No
Property Features
Additional Features:
ADA Comply; Common Area; Kitchen; Laundry Facility; Living Area in Building; Manager's Quarters; Mezzanine; Office Space
Basement:
None
Common Walls:
No Common Walls
Construction Materials:
Frame; Log
Cooling:
Central Air; Heat Pump
Flooring:
Carpet; Hardwood
Foundation Details:
Stemwall; Stone
Heating:
Electric; Forced Air; Heat Pump; Wood
Interior Features:
Built-in Features; Ceiling Fan(s)
Levels:
Two
Roof:
Composition
Business Type (AKA Sub Type):
Bar/Tavern/Lounge; Bed & Breakfast; Food & Beverage; Hospitality; Income/Investment; Real Estate; Recreation; Restaurant; Travel
Owner Pays:
Common Area Maintenance; Electricity; Exterior Maintenance; Gas; Insurance; Repairs; Sewer; Taxes; Water
Exterior Features:
Built-in Barbecue; Courtyard; Fire Pit; RV Dump; RV Hookup
Utilities:
Cable Connected; Electricity Available; Electricity Connected; Phone Connected; Propane
Lot Features:
Landscaped; Level; Native Plants; Water Feature
Other Structures:
Guest House; Second Garage; Shed(s); Storage; Workshop
Parking Features:
Asphalt; Driveway; Gravel; RV Access/Parking; Workshop in Garage
Patio and Porch Features:
Deck; Patio
Road Surface Type:
Paved
View:
Forest; Mountain(s); Pond; River
Waterfront Features:
Creek; Pond
Power Production:
None
Sewer:
Septic Tank; Standard Leach Field
Water Source:
Spring; Well
Documents on File:
Profit and Loss Statement; Seller Disclosure
Listing Terms:
Cash; Conventional; Owner Will Carry
Special Listing Conditions:
Standard
Location Tax and Legal
- Street Number
- 391
- Street Name
- Mill Creek
- Street Suffix
- Drive
- County
- Jackson
- State
- OR
- Postal Code
- 97536
Contract Information
- Original List Price
- 3000000
- Listing Contract Date
- 2024-05-20
- Dual Listing YN
- No
Remarks and Miscellaneous
- Public Remarks
- Step back in time and own a piece of history with Prospect Historic Hotel Bed and Breakfast Inn & Motel. This iconic property, built in 1888, proudly graces both the National and State Historic Registers. Nestled in the breathtaking Upper Rogue region, it offers proximity to renowned attractions like Crater Lake, Mill Creek Falls, and the Rogue River. This enchanting estate boasts a 10-room bed and breakfast hotel, a 14-unit motel, and a charming 50-seat dinner house, all set on over 5 acres of land. Additionally, a cozy 2700 sq. ft. log home serves as the manager's residence, completing the picture of rustic elegance. With a legacy of hosting world travelers and staging various events year-round, this property promises not just ownership but an immersive experience in hospitality and history. Embrace the opportunity to own this cherished landmark and become a steward of its rich heritage.
Status Change Information
- Close Date
- 2024-11-04
- Under Contract Date
- 2024-07-12
- Status Change Timestamp
- 2024-11-04
- Close Price
- 2800000
- Sold Price per SqFt
- 208.96
More Information
Currently Not Used
- List Price per SqFt
- 223.88
Business Details
- Business Included?
- Yes
- Business is a Franchise
- No
- Business Name
- Prospect Historic Hotel Bed and Breakfast Inn
- Inventory List Attached
- No
- Labor Information
- Non-Union
- Number of Full Time Employees
- 4
- Number of Part Time Employees
- 3
- Seller to Provide Training
- Yes
- Year Business Established
- 1888
- Years Business Owned by Current Owner
- 19
Income and Expenses (Annual Amounts)
- Cap Rate %
- 10
- Cap Rate Basis
- Current
Parking Details
- Parking
- Yes
- # of Parking Spaces
- 50
Documents
Property Description ›
Listing Office:
Cascade Hasson Sotheby's International Realty
Last Updated: November - 10 - 2024
Information deemed reliable but not guaranteed.