Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Newport Commercial Property for Sale Title is generated by Realmo AI

    215 NW 15TH ST, Newport, OR 97365

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Commercial property in Newport, Oregon, totaling 11,232 square feet.

    Type:Office, Special Purpose
    Property size:
    11,232 SF
    Price / SF:
    $155/SF
    Added:
    May 11, 2026
    Days on Market:
    17
    Last Refresh:
    May 14 at 9:31 pm

    Property Features for 215 NW 15TH ST

    General Information

    Standard status
    Active
    Size
    11,232 SF
    Property subtype
    Office, Special Purpose

    Building Details

    Year Built
    1977

    We can help!

    Listing Contact
    Lee Black
    Lee Black

    Listing agent Lee Black License #CA 00897065

    Listing office KW Commercial Calabasas

    Listing date May 11, 2026

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of KW Commercial Calabasas

    HighLights

    • Commercial property totaling 11,232 square feet.
    • Located in Newport, Oregon.
    • Built in 1977.

    Overview

    This commercial property, located in Newport, Oregon, offers 11,232 square feet of space. The property is categorized as a specialty property and is available for sale.
    Location Intelligence

    Current Use by Public Records

    South Beach Church Church Newport Foursquare Church Charitable Organization

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center 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
    -124.05454
    Latitude
    44.648136

    Nearby Similar for Sale

    • $1,750,000
      11,232 SF

      Newport Multi-Use Commercial Opportunity

      Versatile 11,232 SF property on 1.71 acres near Highway 101.
      215 NW 15TH Street, Newport, OR 97365
      View Details
    • $475,000
      1,998 SF

      Highway 101 Commercial Investment

      High-visibility Newport commercial property ideal for investment or live-work.
      1112 SW Coast Highway, Newport, OR 97365
      View Details
    • $1,249,000
      9,800 SF

      213 NW Cliff St

      213 Nw Cliff St, 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
    • $26,500

      Embarcadero Marina Boat Slip

      Deeded boat slip with resort amenities in Newport, Oregon.
      1000 SE Bay Boulevard, Newport, OR 97365
      View Details
    • $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
    • $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
    • $2,375,000
      6,505 SF

      Newport Commercial Investment Opportunity

      Turnkey restaurant, bar, parking lot, and storefronts in Nye District.
      426, 501, 515 NW Coast Street, Newport, OR 97365
      View Details
    • $615,000
      3,264 SF

      Newport Mixed-Use Investment Opportunity

      Centrally located mixed-use building with long rental history in Newport.
      334 SW 7th Street, Newport, OR 97365
      View Details
    • $108,000

      RV Lot in Pacific Shores Resort

      RV lot with amenities and beach access in Newport, Oregon.
      6225 N Coast Hwy lot: 96, Newport, OR 97365
      View Details
    • $920,900
      1,912 SF

      Newport Commercial Corner Lot

      Corner lot commercial property in Newport, Oregon.
      310-312 NW COAST ST, Newport, OR 97365
      View Details
    • $3,850,000
      18,581 SF

      Renovated Motel on Highway 101

      Recently renovated 49-unit motel on Highway 101 in Newport, OR.
      1823 N Coast Hwy, Newport, OR 97365
      View Details

    FAQs

    What type of property is this?
    Specialty property - Commercial property in Newport, Oregon, totaling 11,232 square feet.
    Where is this specialty property located?
    The property is located at 215 NW 15TH ST Newport, OR.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Commercial property totaling 11,232 square feet.; Located in Newport, Oregon.; Built in 1977.
    (818) 657-6539 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Lee Black
    Lee Black
    Real Estate License ID: CA 00897065
    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

    Thank You for Inquiry
    215 NW 15TH ST, NEWPORT, OR
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!