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Building Details

Building Size 21,000 SF

Year Built 1988

Buildings 4

Listing Agency: Taylor & Taylor Realty Co.

Listed By: Dennis Regen · License #810604051 Show Phone

Source: Tripleoaksrealty

Added: Aug 5, 2023 Changed: Oct 13 Last Checked: Oct 14 at 7:39PM

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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 Taylor & Taylor Realty Co.

Investment Insights

Based on property information with market context.

This marina property includes two vessel haul-outs and four site-built structures totaling approximately 21,900 square feet. Improvements comprise a 10,000-square-foot main shop, office, and work bay; a 7,500-square-foot warehouse; a 4,000-square-foot tall work bay with an aggregate floor; and a 400-square-foot masonry restroom and shower building.

Electrical service includes both 230- and 480-volt power. Water is supplied by an on-site well producing approximately 60 gallons per minute, while wastewater is handled through a drain field. The entire property carries MP planned marine zoning, is outside the urban growth boundary, and falls within a development zone in a development estuary. The site is also located within an Enterprise Zone.

Key Highlights

• Two vessel haul‑outs
• Four site‑built structures totaling approximately 21,900 square feet
• 10,000‑square‑foot main shop, office, and work bay

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$268,894

Cap Rate

9.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,377,880 $5.4M

Cap Rate 7%

$3,841,343 $3.8M

Cap Rate 9%

$2,987,711 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 21,900 SF

Gross rent

$328.5K $15.00/SF

− Vacancy

−$12.2K −$0.56/SF

EGI

$316.3K $14.45/SF

− OpEx

−$47.5K −$2.17/SF

NOI

$268.9K $12.28/SF

Area

Lincoln County, OR

Vacancy

3.70%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,377,880

Cap Rate 7%

$3,841,343

Cap Rate 9%

$2,987,711

Alternative Uses

Best Use

Warehouse

$3.84M

$3.36M – $4.48M (±1% cap)

NOI $268,894 @ 7.0% cap · market cap 9.12%

Second Best

Industrial

$3.16M

$2.77M – $3.69M (±1% cap)

NOI $221,442 @ 7.0% cap · market cap 7.51%

Theoretical Best

Office A

$5.71M

$5.00M – $6.66M (±1% cap)

NOI $399,855 @ 7.0% cap · market cap 13.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Marinas

Suggested Use

Top Pick Electrical Service Grocery & Convenience Store HVAC Service Butcher Plumbing Service (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

590

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 Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Marina - Marine-oriented property with two haul-outs, multiple work buildings, high-voltage electrical service, and marine-planned zoning.

Where is this marina located?

The property is located at 5262 YAQUINA BAY RD 4 4 Newport, OR.

What is the asking price?

The asking price for this property is $2,950,000.

What are key features of this property?

This property features: Two vessel haul‑outs; Four site‑built structures totaling approximately 21,900 square feet; 10,000‑square‑foot main shop, office, and work bay