Two-Level Office
For Sale
$579,000
242 W Olive Street, Newport, OR 97365
Commercial Sale, Newport, OR
Property Size2,295 SF
Lot Size0.29 Acres
Price / SF$252.29
Days on Market1214
Property Features for 242 W Olive Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-1 Commercial
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2
Parking
12
Security features
Security System
Appliances
Microwave, Water Heater
Subdivision
Nob Hill Beach
Lot features
Level
View
Ocean
Directions
From Hwy 101, turn west onto Olive St. Located on your right hand side.
Standard status
Active
APN
111108BA-2200-00
Size
2,295 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6442
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Gas (Cooling), Central Air
Water source
Public
Amenities
ocean views
reception area
kitchen-break room
bathroom
Building Details
Year built
1957
Floors in Building
2
Flooring type
Vinyl, Carpet
Building materials
Concrete
Roof type
Metal
Listing Agency:
Taylor & Taylor Realty Company
(800) 462-0197
Listed By:
Dennis M Regen · License #810604051
(541) 994-4169
Added: May 9, 2023
Changed: Aug 20
Last Checked: Sep 3 at 6:06AM
MLS# LC-98676
Copyright © 2026 Oregon Coast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,295-square-foot office property at 242 W Olive Street includes two separately metered levels. The main floor provides a reception area, four offices, a kitchen and break room, and a bathroom. The upper floor adds another reception area, two offices, a second kitchen and break room, and an additional bathroom.
The building was constructed in 1957 with concrete construction, a metal roof, vinyl and carpet flooring, natural-gas heating, and central air conditioning. Public water and sewer serve the property, and water is available. The 0.29-acre site is located in Newport and offers ocean views. The sale includes a mandatory 48-month leaseback to the seller, with showings available by appointment.
The building was constructed in 1957 with concrete construction, a metal roof, vinyl and carpet flooring, natural-gas heating, and central air conditioning. Public water and sewer serve the property, and water is available. The 0.29-acre site is located in Newport and offers ocean views. The sale includes a mandatory 48-month leaseback to the seller, with showings available by appointment.
Key Highlights
- 2,295 SF office building on a 0.29‑acre site
- Two levels with separate metering
- Main level includes 4 offices, reception, kitchen‑break room, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,308
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$706,160
$706.2K
Cap Rate 7%
$504,400
$504.4K
Cap Rate 9%
$392,311
$392.3K
Market Conditions
NOI Build-Up for 2,295 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$61.1K $26.64/SF
− Vacancy
−$14.1K −$6.13/SF
EGI
$47.1K $20.51/SF
− OpEx
−$11.8K −$5.13/SF
NOI
$35.3K $15.38/SF
Area
Lincoln County, OR
Vacancy
23.00%
Lease Rate
$26.64 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$706,160
Cap Rate 7%
$504,400
Cap Rate 9%
$392,311
Alternative Uses
Best Use
Office B
$504.4K
$441.4K – $588.5K
NOI $35,308 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$598.6K
$523.8K – $698.4K
NOI $41,903 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,397
Businesses Nearby
Explore this area
Business Placement
Demographics for 97365, OR
10,806
Population
6,026
Households
1.8
Avg Household Size
47
Median Age
31%
College-Educated
91%
High-School Grad
41.5 sq mi
ZIP Area
260
Density / Sq Mi
$60,736
Median Household Income
$30,963
Median Earnings
$1,155
Median Rent
$418,500
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - C-1 Commercial property with separate metering, private offices, and ocean views in Newport.
Where is this office building located?
The property is located at 242 W Olive Street Newport, OR.
What is the asking price?
The asking price for this property is $579,000.
What are key features of this property?
This property features: 2,295 SF office building on a 0.29‑acre site; Two levels with separate metering; Main level includes 4 offices, reception, kitchen‑break room, and bathroom
