Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1005 SE Bay Blvd Newport, OR 97365

    View on Map
    For Sale
    $1,500,000

    LAND - Newport, OR

    Type:Single Family Residence
    Lot size:
    1.72 Acres
    Added:
    Jan 11, 2024
    Days on Market:
    811
    Last Refresh:
    Apr 1 at 7:06 am

    Property Features for 1005 SE Bay Blvd

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    R2
    Standard status
    Active
    APN
    R132556
    Lot size
    1.72 Acres

    Taxes and HOA fees

    TaxDescription
    PROPERTY ID : R132556 TWNSHP 11, RNG 11, ACRES 1.72, DOC201600169
    TaxAnnualAmount
    4132

    We can help!

    Listing Contact
    Mark Shadrin
    Mark Shadrin

    Listing agent Mark Shadrin License #201215479

    Listing office Berkshire Hathaway HomeServices Real Estate Professionals 2110 Mission Street SE Suite 310, Salem, OR

    Listing date Jan 11, 2024

    MLS# 24466512

    Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Newport Land with Bay Views

    This 1.72-acre property, zoned R2, is plat approved for 11 duplex lots, allowing for a total of 22 townhomes. The property is located across from the Embarcadero Resort and Marina and features Bay Bridge and Ocean views. Water, sewer, and power are available at the street. The property is located in Newport's Bayfront District, near the Oregon Coast Aquarium, Hatfield Marine Science Center, lighthouses, and golf courses. The location may also be suitable for a condo or timeshare development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Lincoln
    State
    Oregon
    Longitude
    -124.038177
    Latitude
    44.630615

    Nearby Similar for Sale

    • $150,000

      Turnkey Pizza Restaurant in Newport

      Fully equipped pizza restaurant for sale in Newport, Oregon.
      130 NW 19th Street, Newport, OR 97365
      View Details
    • $1,600,000

      Newport Commercial Land Opportunity

      2.99-acre commercial land in Newport's growing corridor.
      130 NE 50th Street, Newport, OR 97365
      View Details
    • $575,000
      2,606 SF

      Historic Nye Beach Commercial Building

      Commercial building in Historic Nye Beach with additional lot.
      727 NW 3rd Street, Newport, OR 97365
      View Details
    • $200,000

      Nye Beach Vacant Land Parcel

      0.3 acre commercial land in Newport's desirable Nye Beach.
      TL4000 NW High Street, Newport, OR 97365
      View Details
    • $200,000

      Nye Beach Vacant Land Parcel

      Vacant land parcel in Newport's Nye Beach district.
      TL3900 NW High Street, Newport, OR 97365
      View Details
    • $650,000

      Newport Multifamily Home Near Ocean

      Three-unit property near the ocean with immediate income potential.
      1218 NW LAKE St, Newport, OR 97365
      View Details
    • $750,000

      Nye Beach Vacant Land

      Vacant land in Newport's Nye Beach district.
      626 NW Coast Street, Newport, OR 97365
      View Details
    • $200,000

      Vacant Land in Nye Beach

      Vacant land parcel in Newport's desirable Nye Beach district.
      TL4300 NW Coast Street, Newport, OR 97365
      View Details
    • $200,000

      Vacant Land in Nye Beach

      Vacant land parcel in Newport's desirable Nye Beach district.
      TL4400 NW Coast Street, Newport, OR 97365
      View Details
    • $3,900,000

      Newport Heavy Industrial Land Opportunity

      14.62 acres of flat, usable land in South Beach.
      4003 S Coast Highway, Newport, OR 97366
      View Details
    • $325,000

      Newport Buildable Lots with Utilities

      Two buildable lots in Newport, ready for construction with utilities.
      303 NW 26th Street, Newport, OR 97365
      View Details
    • $599,000

      Newport Oceanfront Acreage Opportunity

      Rare 0.95-acre oceanfront parcel with utilities and approved septic.
      TL 400 HWY 101, Newport, OR 97365
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 1.72-acre R2 zoned land approved for 22 townhomes.
    Where is this residential land & home lot located?
    The property is located at 1005 SE Bay Blvd Newport, OR.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 1.72‑acre property plat approved for 11 duplex lots (22 townhomes).; Zoned R2, allowing for potential condo or timeshare development.; **Breathtaking Bay Bridge & Ocean Views.**
    (503) 983-4405
    We can help!
    Listing Contact
    Mark Shadrin
    Mark Shadrin
    Real Estate License ID: 201215479
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!