Newport Art District Multi-Unit
For Sale
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334 SW 9th Street, Newport, OR 97365
Commercially zoned multi-unit property in Newport's art district.
Property Size2,289 SF
Price / SF$185.67
Days on Market198
Property Features for 334 SW 9th Street
General Information
Standard status
Active
Size
2,289 SF
Property subtype
Multifamily
Zoning
C-1
Building Details
Year Built
1910
Listing Agency:
Oregon Life Homes
Listed By:
Erik Anderson · License #201222786
Source:
Crexi
Added: Jan 27
Changed: Aug 8
Last Checked: Aug 8 at 6:30AM
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 Oregon Life Homes
Investment Insights
Based on property information with market context.
Located in the art district of Newport, this commercially zoned multi-unit property features a large lot one block from Highway 101 and a half mile from the ocean. The property consists of two buildings, each containing two one-bedroom, one-bathroom units, for a total of four units. One building is two stories, while the other is a single story. Off-street driveway parking is available, with public parking lot access across SW 9th Street. The property offers an excellent income or development opportunity, with a total property size of 2289 square feet.
Key Highlights
- Commercially Zoned Multi‑Unit Property
- Located in the Art District of Newport
- Large Lot, close proximity to Highway 101 and the Ocean
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
$21,333
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
5.02%
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%
$426,660
$426.7K
Cap Rate 7%
$304,757
$304.8K
Cap Rate 9%
$237,033
$237.0K
Market Conditions
NOI Build-Up for 2,289 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
$31.6K $13.80/SF
− Vacancy
−$1.1K −$0.49/SF
EGI
$30.5K $13.31/SF
− OpEx
−$9.1K −$3.99/SF
NOI
$21.3K $9.32/SF
Area
Lincoln County, OR
Vacancy
3.52%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$426,660
Cap Rate 7%
$304,757
Cap Rate 9%
$237,033
Alternative Uses
Best Use
Multifamily LT 5
$304.8K
$266.7K – $355.6K
NOI $21,333 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$280.6K
$245.5K – $327.3K
NOI $19,640 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$597.0K
$522.4K – $696.6K
NOI $41,793 @ 7.0% cap · market cap 9.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,471
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Commercially zoned multi-unit property in Newport's art district.
Where is this quadplex located?
The property is located at 334 SW 9th Street Newport, OR.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Commercially Zoned Multi‑Unit Property; Located in the Art District of Newport; Large Lot, close proximity to Highway 101 and the Ocean
