Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Newberg Office Building For Sale Title is generated by Realmo AI

    700 E 1st St, Newberg, OR 97132

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Iconic Romanesque building in historic downtown Newberg with on-site parking.

    Type:Office
    Property size:
    6,330 SF
    Price / SF:
    $363/SF
    Added:
    Mar 18, 2026
    Days on Market:
    56
    Last Refresh:
    Mar 20 at 12:10 am

    Property Features for 700 E 1st St

    General Information

    Standard status
    Active
    Size
    6,330 SF
    Property subtype
    Office

    Building Details

    Year Built
    1930

    We can help!

    Listing Contact
    Mary Martin Miller
    Mary Martin Miller

    Listing agent Mary Martin Miller License #200107121

    Listing office Miller Consulting Group LLC

    Listing date Mar 18, 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 Miller Consulting Group LLC

    HighLights

    • Prime corner location in Historic Downtown Newberg with high visibility.
    • Rare on‑site parking lot with 16 dedicated spaces.
    • 6,330 SF of fully outfitted professional office space.
    • Full seismic upgrade and masonry reinforcement completed in 2006.
    • New roof installed in 2022.
    • Full basement (3,100+ SF) providing ample storage space.

    Overview

    Located in the heart of historic downtown Newberg, this Romanesque-style building offers a blend of turn-of-the-century character and modern structural integrity. The property, formerly a fraternal meeting hall and later the Ben Franklin Bank, has been meticulously maintained and is currently a premier professional office venue. The total office space is 6,330 square feet, fully outfitted for professional use. A full basement provides over 3,100 square feet of storage space. The property includes a rare on-site parking lot with 16 dedicated spaces. The building's architecture features classic Romanesque masonry. A new roof was installed in 2022, and the HVAC system has been recently updated. A full seismic upgrade and masonry reinforcement were completed in 2006, and a total interior and exterior professional renovation was completed in the mid-2000s. Situated on a central corner, the property is located adjacent to retail shops, art galleries, and professional services, and is steps away from restaurants and cafes. The high-traffic corner location ensures high visibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newberg
    County
    Yamhill
    State
    Oregon
    Longitude
    -122.9724938
    Latitude
    45.3000282

    Nearby Similar for Sale

    • $999,999
      3,728 SF

      Modern Townhomes in Newberg

      Updated 4-plex with income potential in a quiet neighborhood.
      1552 E 3RD St, Newberg, OR 97132
      View Details
    • $2,600,000
      3,000 SF

      Vintage Square Center For Sale

      Retail investment opportunity with staggered lease expirations in Newberg.
      2316 E Portland Rd, Newberg, OR 97132
      View Details
    • $189,900

      Newberg Land Ready to Build

      Land in Newberg, ready for duplex or common wall.
      3rd St, Newberg, OR 97132
      View Details
    • $1,995,000
      6,268 SF

      Office-Retail Investment Property on 99W

      Well-maintained investment property with long-term tenants in a prominent location.
      2911 Portland Rd, Newberg, OR
      View Details
    • $482,210
      1,536 SF

      Well-Maintained Duplex in Newberg

      Duplex with two units, ideal investment or starter home.
      504 E 9TH 14 St, Newberg, OR 97132
      View Details
    • $2,399,000
      12,743 SF

      Newberg Townhome Community Near University

      Well-maintained townhomes near George Fox University with expansion potential.
      615-629 N Elliott Rd, Newberg, OR 97132
      View Details
    • $1,995,000
      6,268 SF

      Leased Office/Retail Complex For Sale

      Fully leased office and retail complex in Newberg, Oregon.
      2913 Portland Rd, Newberg, OR
      View Details
    • Contact for pricing

      Self-Storage and Flex Space Facility

      40-unit self-storage, 3 RV spaces, and 8 flex spaces.
      2800 E 2nd St, Newberg, OR 97132
      View Details
    • $2,878,712
      16,400 SF

      Industrial Site with Helipad

      Industrial site featuring two buildings and operational helipad.
      1055 S Commerce Pkwy, Newberg, OR
      View Details
    • $1,595,000
      5,612 SF

      Renovated 6-Plex Near George Fox

      Fully renovated 6-plex near George Fox University in Newberg.
      822 S Columbia St, Newberg, OR 97132
      View Details
    • $3,200,000
      2,761 SF

      Dundee Hills Vineyard Estate

      Turn-key vineyard, winery, and custom home in Newberg, Oregon.
      13631 NE Kinney Rd, Newberg, OR 97132
      View Details
    • $2,795,000

      Garden Court Apartments For Sale

      12-unit apartment complex with assumable financing and strong occupancy history.
      1558 E 3RD ST, Newberg, OR 97132
      View Details

    FAQs

    What type of property is this?
    Office building - Iconic Romanesque building in historic downtown Newberg with on-site parking.
    Where is this office building located?
    The property is located at 700 E 1st St Newberg, OR.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: Prime corner location in Historic Downtown Newberg with high visibility.; Rare on‑site parking lot with 16 dedicated spaces.; **6,330 SF of fully outfitted professional office space.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mary Martin Miller
    Mary Martin Miller
    Real Estate License ID: 200107121
    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
    700 E 1st St, Newberg, OR 97132
    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!