Overview

Description

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.

Click Here For Offering Memorandum: https://allredhotelgroup.com/?propertyId=LompocCAOCairns

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Highlights

• Ranked as the #1 Hotel in its Class in Lompoc by TripAdvisor
• Short Drive to Vandenberg Space Force Base, One of the Area's Largest Employers and One of the Nation's Most Important Military Installations
• Vandenberg Had over 30 Launches in 2023, With an Expected 50 Launches in 2024
• Lompoc Sits Within a Region Undergoing Tremendous Economic Growth Through the Expanding Aerospace Industry
• Excellent Location Along California's Central Coast, Off of State Highway 1/Pacific Coast Highway
• Minutes to Old Town Lompoc, Lompoc Flower Fields and La Purisima Mission & State Historic Park

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