Downtown Storefront With Alley
For Sale
$575,000
503 E 1st St, Newberg, OR 97132
C-3-zoned commercial space with an open front area, kitchen, bathroom, and rear loading access.
Property Size2,060 SF
Price / SF$279.13
Days on Market52
Property Features for 503 E 1st St
General Information
Standard status
Active
Size
2,060 SF
Property subtype
Commercial
Zoning
C-3
Additional Details
Utilities to Site
Yes
Amenities
high ceilings
abundant natural light
open layout
semi-private dining or meeting room
kitchen
bathroom
large storage and utility area
direct access to alley for deliveries
Building Details
Year Built
1921
Buildings
1
Listing Agency:
The Kelly Group Real Estate
Listed By:
Kelly Hagglund · License #201219819
(503) 330-2089
Source:
Portlandoregonhomelistings
Added: Sep 2
Changed: Oct 16
Last Checked: Oct 20 at 9:29PM
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 The Kelly Group Real Estate
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Investment Insights
Based on property information with market context.
Built in 1921, this approximately 2,060-square-foot storefront property provides an adaptable commercial layout in downtown Newberg. The front portion combines an open floor plan with high ceilings and substantial natural light. A separate dining or conference room, kitchen, and bathroom support multiple interior configurations, while the rear includes storage and utility space.
The property has direct alley access for deliveries and loading or unloading. Electrical service and the water heater were replaced after the current seller acquired the building in 2024, and the HVAC system was installed before that acquisition. C-3 zoning supports its commercial positioning. The sale includes the building only; the existing business and inventory are excluded.
The property has direct alley access for deliveries and loading or unloading. Electrical service and the water heater were replaced after the current seller acquired the building in 2024, and the HVAC system was installed before that acquisition. C-3 zoning supports its commercial positioning. The sale includes the building only; the existing business and inventory are excluded.
Key Highlights
- Approximately 2,060 square feet in a 1921‑built storefront
- C‑3 zoning in downtown Newberg
- Open front area with high ceilings and abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,658
Cap Rate
4.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,160
$493.2K
Cap Rate 7%
$352,257
$352.3K
Cap Rate 9%
$273,978
$274.0K
Market Conditions
NOI Build-Up for 2,060 SF
Gross rent
$37.1K $18.00/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$35.2K $17.10/SF
− OpEx
−$10.6K −$5.13/SF
NOI
$24.7K $11.97/SF
Area
Yamhill County, OR
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,160
Cap Rate 7%
$352,257
Cap Rate 9%
$273,978
Alternative Uses
Best Use
Retail
$352.3K
$308.2K – $411.0K
NOI $24,658 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$556.0K
$486.5K – $648.7K
NOI $38,923 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
17k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 28%
Wells Fargo
Shops & Services
4,187 visits/mo
0.0 miles
Burrito Loco
Dining
3,827 visits/mo
0.3 miles
Papa Murphy's
Dining
3,519 visits/mo
0.3 miles
Domino's Pizza
Dining
2,760 visits/mo
0.1 miles
SUBWAY
Dining
2,269 visits/mo
0.4 miles
Demographics for 97132, OR
32,028
Population
12,411
Households
2.6
Avg Household Size
38
Median Age
39%
College-Educated
93%
High-School Grad
62.6 sq mi
ZIP Area
512
Density / Sq Mi
$95,150
Median Household Income
$46,005
Median Earnings
$1,567
Median Rent
$498,500
Median Home Value
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Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Fulton Street Cottage Flowers — 1801 e, fulton st, newberg, or 97132
Frequently Asked Questions
What type of property is this?
Storefront property - C-3-zoned commercial space with an open front area, kitchen, bathroom, and rear loading access.
Where is this storefront property located?
The property is located at 503 E 1st St Newberg, OR.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Approximately 2,060 square feet in a 1921‑built storefront; C‑3 zoning in downtown Newberg; Open front area with high ceilings and abundant natural light
