Norblad Hotel
Astoria, OR
Offered for sale at $3,500,000
The historic Norblad Hotel is a 33-key, boutique, interior corridor property occupying ~0.22 acres of owned land in the heart of downtown Astoria, Oregon. Just two blocks from the waterfront and steps away from restaurants, breweries, and retail shops, the property benefits from a highly walkable location that attracts steady year-round demand from event attendees, and regional drive-to travelers from both Portland and Seattle-Tacoma metro areas.
The updated hotel offers a diverse mix of room types, including suites with private baths and cabin rooms with shared bathrooms. Guest amenities include a self-serve kitchen, laundry facilities, and a lobby lounge with fireplace.
The property includes six ground-floor retail spaces that enhance revenue diversification. Three spaces are currently leased to local businesses, while two are available for new tenants or conversion to hospitality-related uses. One additional space currently serves as storage but could be converted to generate income or expand guest services, for flexibility and long-term growth.
With its prime downtown location, diverse income streams, and boutique market positioning, the Norblad Hotel represents a compelling investment opportunity in one of Oregon’s most vibrant coastal communities. This hotel offers a modern guest experience with unique historic appeal.
Investment Highlights
- 11.10% Cap Rate, 16.7% ROI & 2.43 GRM (Actuals)
- Economy | Limited-Service | 33 Keys
- Prime Downtown Astoria Location
- High-Volume Coastal Demand Drivers
- Historic Character With Modern Amenities
- Exceptional Boutique Market Positioning
- Mixed-Use Asset, Diverse Income Streams
- Drive-To Demand From Portland & Seattle
- Use Listing Link To View Full Offering & To Request Financials
Property Details- 33 Guest Rooms
- Built in 1923
- Last Renovated in 2013
- Building is 18,190 SQFT
- Lot is 0.22 Acres
- Photo Gallery
Financial Details- Offered for sale at $3,500,000
- Average Daily Rate: $90 - $181
- Terms: 11.10% Cap Rate, 16.7% ROI & 2.43 GRM (Actuals)
Please use the listing link for access to the full Offering Memorandum (Tier 1) & Detailed Financials (Tier 2).
Referrals for lenders available.
- Prequalify for Financing
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