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154 NE FRANKLIN AVE Bend, OR 97701
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Key Details
Sold Price $4,500,000
Property Type Commercial
Sub Type Hotel Motel
Listing Status Sold
Purchase Type For Sale
Square Footage 20,312 sqft
Price per Sqft $221
MLS Listing ID 21302848
Sold Date 05/10/22
Year Built 1995
Annual Tax Amount $15,935
Tax Year 2020
Lot Size 1.030 Acres
Property Sub-Type Hotel Motel
Property Description
The Rainbow Motel is located in the Central Bend District, as well as a Federal Opportunity Zone. The property features 50 guest rooms in 2 sections on 1.03 acres. The property is dual zoned and has the potential to be redeveloped into residential housing of up to 55 to 65 feet in height, with minimal set backs and lower parking ratios in the upgraded Central Bend District. Check with planning and zoning for further info.There is an opportunity for an owner developer to operate the property.
Location
State OR
County Deschutes
Area _320
Zoning ME CL
Interior
Heating Other
Exterior
Roof Type Metal
Garage No
Building
Story 2
Sewer Public Sewer
Water Public Water
Level or Stories 2
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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