Otis, Oregon - For Sale

[Wyody]

While you may have read the review in this Oregon Forum regarding the excellent food at the Otis Cafe, there is more information about the town being "on the market".
My information comes from a conversation with one of the residents of Otis and she used a few grand words that escape me at this writing.
Otis Oregon, just a few miles north and east of Lincoln City is on the market for Three Million Dollars.
It is ruled by the Forest Service and all of the commercial buildings (all four or five) are leased from one landowner.
There is no tearing-down of buildings allowed nor are there to be any new buildings - this is a condition imposed by the Forest Service.
Now, somebody with a great knowledge of real-estate, the Forest Service and the laws regarding and affecting both might be able to recognize a solution to any problems.
... especially someone with 3 mill to spend on a tiny old town with a great cafe!

[isabel]

Wouldn't it be grand to own a little town. Are the other buildings being used for businesses? I'm surprised the forest service doesn't purchase the town if they have such an interest in it. Are the new owners allowed to fixup the old buildings? Otis Cafe sure sounds like a good name for a chain outfit.:)

Izzy

[Wyody]

Originally Posted by isabel

Wouldn't it be grand to own a little town. Are the other buildings being used for businesses? I'm surprised the forest service doesn't purchase the town if they have such an interest in it. Are the new owners allowed to fixup the old buildings? Otis Cafe sure sounds like a good name for a chain outfit.:)
Izzy

Izzy, I hope to speak with that lady again today. She works at my pharmacy.
I may miss a building or so but here's what I recall: In Otis, there is a little post office, the cafe and a "gift shop" on one side of 18. On the other side is an "Original Corn Dog" joint ... and maybe a petrol station.
I believe the folks are very limited in what they can do to the buildings although I need to double-check. The Otis Cafe looks like something out of the stagecoach days - really tiny including the kitchen area and since the traffic is astounding during summer months, it hasn't expanded so I'm thinking, as I said, that they're really limited.
I will try and find a link to more info if I can. Maybe we should all get together and buy it. Too bad we don't know some really exorbitantly rich dude from FL.

[isabel]

Yes, where are the folks who have won the lotto when you need them. I guess I better go buy a few tickets:) Sounds like an interesting place to visit. You know we have a few small towns with historic looking main streets around here...maybe when we get back from Disneyland I will take a day trip and take some pictures. Why is the cafe named Otis...that is not a common name...what is the story behind Otis?

Izzy

[Wyody]

And here is a link to give you more info on the deal:

http://www.webvenues.net/otisoregon/

[PDXnative]

I believe when the town first was offered for sale about 7-10(?) years ago, it was only 1 million.

[Wyody]

Originally Posted by PDXnative

I believe when the town first was offered for sale about 7-10(?) years ago, it was only 1 million.

That's how I first heard it - and how you first brought it up. Guess it's become a hotter item?

[isabel]

With the current real estate market....and the lack of a large home on the ranch...it may take a while to sell. Still the acreage, barn, and town make it attractive to the big investor...but the control of growth and limited use rules of the property will...keep home builders away. Wyody is the limited use apply to the town itself...or the ranch too? Anyone wanting to live on so much acreage would most likely want to build a large home.

I know someone who bought... about 8 acres, a large home, with smaller homes also on the property, pool, huge barn, pond...for about 1.5 million. Of course the property is not close to the ocean...it is inland.


Izzy