242 W Olive Street, Newport, OR 97365
- Added:
- May 9, 2023
- Days on Market:
- 1147
- Last Refresh:
- Jun 28 at 9:06 pm
Property Features for 242 W Olive Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- C-1 Commercial
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 2
- Parking
- 12
- Security features
- Security System
- Appliances
- Microwave, Water Heater
- Standard status
- Active
- APN
- 111108BA-2200-00
- Size
- 2,295 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6442
Utilities
- Utilities
- Water Available
- Sewer type
- Public Sewer
- Heating system
- Central, Natural Gas
- Cooling system
- Gas (Cooling), Central Air
- Water source
- Public
Building Details
- Year built
- 1957
- Floors in Building
- 2
- Flooring type
- Vinyl, Carpet
- Building materials
- Concrete
- Roof type
- Metal
Listing agent Dennis M Regen License #810604051 (541) 994-4169
Listing office Taylor & Taylor Realty Company 3891 NW Hwy 101, Lincoln City, OR (800) 462-0197
Listing date May 9, 2023
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.
HighLights
- Commercial building with ocean views in a high‑traffic area of Newport
- 2,295 total SF with main and upper levels, each with reception, offices, kitchen/break room, and bathrooms
- Main level features: reception area, 4 offices, kitchen/break room, and 1 bathroom
- Upper level features: reception area, 2 offices, kitchen/break room, and a second bathroom
- Each level metered separately with natural gas heating, heat pump, and central air conditioning
- Metal roof; concrete construction; public water and public sewer
Overview
The property is located at 242 W Olive Street in Newport, Oregon, and is described as being in a high-traffic area. The building is also marketed as offering ocean views. Zoning is listed as C-1 Commercial. The seller requires that the buyer agree to a mandatory leaseback for 48 months, and appointments are required for showings.
For tenants, the configuration supports a professional office user that benefits from multiple rooms for reception and private workspaces on two floors. For buyers, the separately metered utilities and dedicated HVAC on each level can simplify ongoing operational management. The mandatory 48-month leaseback is a key consideration for any buyer evaluating ownership and timing.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.1k | $26.64 |
| − Vacancy | −$14.1k | −$6.13 |
| EGI | $47.1k | $20.51 |
| − OpEx | −$11.8k | −$5.13 |
| NOI | $35.3k | $15.38 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Lincoln
- State
- Oregon
- Longitude
- -124.055232
- Latitude
- 44.636685
