580 Oro Dam Blvd E

CALIFORNIA NORTH HOSPITALITY MARKET: In the past 12 months, occupancy has averaged 58.2%—a level not that far off its recent lows. However, California North escaped the worst of COVID-19’s impact on the hospitality sector. Here, annualized occupancy dropped to a relatively high 52.6% in during the first wave of the pandemic. Its subsequent recovery has been proportionally smaller than most metros partially since it did not decline that much in the first place. DEMAND DRIVERS: Oroville is located within Butte County, bolstered by a strong economy based in its agricultural, commercial, industrial, educational, and professional industries. The County encourages economic development within these industries, and the development and enrichment of new industries that are job-creating and environmentally sustainable. REAL ESTATE FUNDAMENTALS: Oroville’s commitment to economic and population growth surrounding the hotel’s location has increased exponentially over the last 5 years. Multiple hotel & retail developments have helped increase the traffic counts within a 5-mile radius. Coupled with the large building & lot size, will provide an investor peace of mind in real estate appreciation alone. Real estate professionals could argue there are alternative ‘Highest & Best Uses’ for that site that may allow the owner to create greater upside potential. MULTIPLE DEMAND DRIVERS: Beautiful scenery and the history of the American Gold Rush drive leisure travel to the Lake Oroville Recreational Area to the tone of over 1,000,000 visitors per year. CORPORATE DEMAND DRIVERS: Historically, the Americas Best Value Inn & Suites in Oroville has experienced increased patronage due to the influx of workers from the CA Department of Transportation (road workers) and tree cutters. POTENTIAL FOR DEVELOPMENT: Situated on a substantial lot of over 3 acres, the building offers opportunities for expansion or conversion. SINGLE LEVEL: The structure encompasses a total of 71 keys, all situated on one single level. This design enables both guests and cleaning staff to navigate and use the hotel with maximum efficiency