O'Cairns Inn & Suites | 940 E Ocean Ave
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O'Cairns Inn & Suites 940 E Ocean Ave
83 Room Hotel Lompoc, CA 93436 $13,509,000 CAD ($162,759 CAD/Room)
Investment Highlights
- Ranked as the #1 Hotel in its Class in Lompoc by TripAdvisor
- Vandenberg Had over 30 Launches in 2023, With an Expected 50 Launches in 2024
- Excellent Location Along California's Central Coast, Off of State Highway 1/Pacific Coast Highway
- Short Drive to Vandenberg Space Force Base, One of the Area's Largest Employers and One of the Nation's Most Important Military Installations
- Lompoc Sits Within a Region Undergoing Tremendous Economic Growth Through the Expanding Aerospace Industry
- Minutes To Old Town Lompoc, Lompoc Flower Fields And La Purisima Mission & State Historic Park
Executive Summary
Property Tours
Do not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers.
Marcus & Millichap is proud to present the O'Cairns Inn & Suites, a two-story independent hotel ideally located along State Highway 1/Pacific Coast Highway in Lompoc, California. The property is a short drive to Vandenberg Space Force Base, one of the largest employers in the area and one of the most important military installations in the nation.
The O'Cairns Inn & Suites was built in 1986 and consists of 84 spacious, well-appointed guest rooms. Hotel renovations have been completed from 2016 to 2020. The hotel offers several amenities including O'Cairns Inn Cafe, an outdoor heated pool & spa, guest laundry facilities and business center.
The O'Cairns Inn & Suites represents the opportunity to acquire the top ranked Tripadvisor hotel in a desirable market near several demand drivers. A savvy investor will capitalize on the current strong income stream while repositioning to compete with other upper midscale and upscale hotels in the region. Our Pro Forma analysis assumes continued modest revenue growth supported by increasing demand growth particularly from the space exploration boom taking place in this strategic California coastal region.
Ground Lease
The O'Cairns Inn & Suites is located on a ground lease and has 48 years remaining. Current rent is $3,522 per month and will increase every 3 years, based on CPI The 95-year term started April 1, 1976 and ends March 31, 2071.
Do not contact on-site staff. All property tours must be scheduled through the listing agent. Prospective purchasers are encouraged to visit the subject property prior to submitting offers.
Marcus & Millichap is proud to present the O'Cairns Inn & Suites, a two-story independent hotel ideally located along State Highway 1/Pacific Coast Highway in Lompoc, California. The property is a short drive to Vandenberg Space Force Base, one of the largest employers in the area and one of the most important military installations in the nation.
The O'Cairns Inn & Suites was built in 1986 and consists of 84 spacious, well-appointed guest rooms. Hotel renovations have been completed from 2016 to 2020. The hotel offers several amenities including O'Cairns Inn Cafe, an outdoor heated pool & spa, guest laundry facilities and business center.
The O'Cairns Inn & Suites represents the opportunity to acquire the top ranked Tripadvisor hotel in a desirable market near several demand drivers. A savvy investor will capitalize on the current strong income stream while repositioning to compete with other upper midscale and upscale hotels in the region. Our Pro Forma analysis assumes continued modest revenue growth supported by increasing demand growth particularly from the space exploration boom taking place in this strategic California coastal region.
Ground Lease
The O'Cairns Inn & Suites is located on a ground lease and has 48 years remaining. Current rent is $3,522 per month and will increase every 3 years, based on CPI The 95-year term started April 1, 1976 and ends March 31, 2071.
Property Facts
| Price | $13,509,000 CAD | Building Size | 23,850 SF |
| Price Per Room | $162,759 CAD | No. Rooms | 83 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1986/2020 |
| Property Subtype | Hotel | Parking Ratio | 2.1/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 2.38 AC |
| Price | $13,509,000 CAD |
| Price Per Room | $162,759 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.38 AC |
| Building Size | 23,850 SF |
| No. Rooms | 83 |
| No. Stories | 2 |
| Year Built/Renovated | 1986/2020 |
| Parking Ratio | 2.1/1,000 SF |
| Corridor | Exterior |
Amenities
- Business Center
- Fitness Center
- Pool
- Meeting Event Space
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 11 | $213.30 CAD | - |
| Guest Room | 72 | $147.89 CAD | - |
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Walk Score ®
Very Walkable (74)
Bike Score ®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 085-150-076 | Improvements Assessment | $2,984,896 CAD |
| Land Assessment | $1,754,998 CAD | Total Assessment | $4,739,895 CAD |
PROPERTY TAXES
Parcel Number
085-150-076
Land Assessment
$1,754,998 CAD
Improvements Assessment
$2,984,896 CAD
Total Assessment
$4,739,895 CAD
zoning
| Zoning Code | PD |
| PD |
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O'Cairns Inn & Suites | 940 E Ocean Ave
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