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Newport, OR 97365

For Sale
$599,000

High-Visibility Hwy 101 Retail Building

Property size:
8,344 SF

Description

Added:
Feb 3, 2025
Days on Market:
306
This exceptional two-story commercial building, totaling 8,344 square feet, sits on a 0.11-acre lot in the heart of Newport, Oregon, boasting excellent visibility from Highway 101. Currently generating a gross annual income of $42,000, this property presents a significant investment opportunity. The ground floor comprises three separate retail units, currently occupied by a Mexican store, a meat market, and another retail establishment. The second floor offers four additional rentable spaces, two of which are currently leased as a yoga studio and a meeting room. This presents a substantial opportunity for increased revenue through the lease of the currently vacant spaces on both floors. The building's prime location and existing tenant base provide a solid foundation for future growth and profitability. The property's size and layout offer flexibility for a variety of commercial uses, making it an attractive investment for both seasoned investors and those new to the commercial real estate market. The strong potential for rental income increases, coupled with the desirable location, makes this a compelling investment opportunity in a thriving Oregon coastal community. The asking price is $599,000. Serious inquiries only.

Property Features for

General Information

Property type
Retail properties
Square Feet
8,344 SF
Lot Size
4,792 SF

Property Profile Location Intelligence

Current Use by Public Records

Retail properties

Map

City
Newport
County
Lincoln
State
Oregon
Longitude
-124.0531
Latitude
44.6361

FAQs

What type of property is this?
Retail property - High-Visibility Hwy 101 Retail Building
Where is this retail property located?
The property is located at Newport, OR.
What is the asking price?
The asking price for this property is $599,000.
More about this property
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