Property Address: 391 Mill Creek Drive, PO Box 50
Prospect, OR 37536
Contact: Fred Wickman, Proprietor
Contact Email: email@example.com
Contact Telephone: 541-973-8221
Contact Toll-free: n/a
Contact Fax: n/a
Property URL: https://prospecthotel.com
Date Business Established: 1889
Trade Association Affiliations: Oregon Bed and Breakfast Guild, Eagle Point – Upper Rogue Chamber of Commerce, Shady Cove Upper Rogue CofC, Ashland CofC, Medford CofC, Grants Pass CofC, Travel Oregon, Travel Southern Oregon,
Financials Verified: Yes
Area Description: The Prospect Hotel B&B – Motel and Dinner House is located in the small rural community of Prospect (pop.500) in the Upper Rogue River region of Southern Oregon. Aptly described as the “Gateway to Crater Lake”, the town is the closest full-service community to Oregon’s only National Park.
Many important people from Crater Lake’s past stayed at the Prospect Hotel – Teddy Roosevelt, Jack London, Zane Grey, John Muir, William Gladstone Steel (the father of Crater Lake National Park), William Jennings Bryan, and Hubert Hoover to name a few. Some of the hotel rooms are named after them.
Prospect offers such amenities as gas, groceries, a pizza parlor, a laundromat, 3 cafes, 2 bars, and 5 churches as well as miles of hiking trails along forests and streams.
Site Description: The hotel was first opened in the late 1880s early 1890s. It is listed on both the State and National Registries of Historic Places and is one of the oldest operating hotels in Southern Oregon. In 1990 the property was completely rebuilt and modernized and reopened on its 100th birthday. Since that time the Prospect Hotel has become a “must visit” stop along the Crater Lake Highway. It has been written up in most travel guides (including Japan and Western Europe) and also in Sunset Magazine (June 2003) as the “Best Dinner House between Medford and Crater Lake.”
The property includes a 10-room Historic Hotel Bed and Breakfast Inn, all with private baths. There is a fine, relaxed dining dinner house on the first floor of the hotel. Enjoy a good book, a glass of Oregon wine, or a microbrew relaxing on the front porch veranda. A full breakfast is served for all hotel guests year-round in our comfortable antique-furnished dining room. There is also a 14-unit pet-friendly motel. Breakfast is available for motel guests for an additional fee. The hotel and motel are situated on 5 acres of park-like grounds with a pond, horseshoe pits, and 510 ft. of Mill Creek frontage.
Outdoor activities span the four seasons. Summer offers swimming, rafting, fishing, hiking, horseback riding, birding, and boating. Autumn offers hunting, mushroom picking, and a wonderful variety of fall colors. Winter provides Crater Lake which offers some of the best snowshoe and cross-country skiing to be found anywhere in some of the most spectacular scenery in the Oregon Cascades. Nearby is snowmobiling and other snow sports. Springtime has its own special charm with the rushing waters of snowmelt and the crisp, fresh air and crystal-clear vistas of the surrounding mountains, valleys, rivers, streams, and lakes.
So come to Prospect and experience the joy and relaxation to be found in one of the friendliest little towns in Oregon.
Structural Description: 10 Room Historic Hotel B&B Inn, 14 Room Motel and Fine Dining Dinner House. Ideally located in the Southern Oregon Cascade Mountains just off Highway 62 along the Rogue River, halfway between the Rogue Valley and Crater Lake National Park:
- 10 Room Historic Hotel Bed and Breakfast Inn, all with Private Baths, Period Furnishings, Complete Historic Restoration in 1988-89, Turn Key Operation
- Historic Hotel Dinner House, 50 Seats, Fine Dining, Period Furnishings
- Only Bed and Breakfast Inn, Motel and Dinner House in Southern Oregon
- 14 Rooms in Two Motel units, all with Private Baths; 1 queen, 2 queens, Junior Suites and Suites
- Log House (2700 sq. ft, 2 story, 3 Bed, 2 Bath), Manager’s Quarters, Employee Housing or Rental
- 5.6 acres Beautifully Landscaped Grounds, ~ 500ft of Mill Creek flows through the Property
- 4 Tax Lots with Multiple Out Buildings
- Highly Desirable Resort Location, close proximity to Crater Lake National Park and the Rogue River
- Just off Rogue – Umpqua Scenic Byway on the Crater Lake Hwy 62, 45 minutes to Crater Lake Rim
- 8 miles from Lost Creek Lake recreation area
- Located at 2500 Foot Elevation below Heavy Snow, above Valley Fog
- Wedding and Event Space
Offering: Offered at $3,750,000.
10.6% Cap, 6.9 GRM (2021) ~~~ 14.2% Cap, 5.4 GRM – Historic (2016). Financials available after Confidentiality Agreement
- Occupancy %: n/a
- Average Daily Rate: n/a
- Income from Room Sales: n/a
- Property Taxes: n/a
- Electric: n/a
- Water & Sewer: n/a
- Natural Gas/Propane: n/a
- Insurance: n/a
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