Corner Retail Building with Four
For Sale
$550,000
715 SW Hurbert Street, Newport, OR 97365
COMMERCIAL - Newport, OR
Property Size3,960 SF
Lot Size0.11 Acres
Price / SF$138.89
Days on Market56
Property Features for 715 SW Hurbert Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
C-1 Commercial
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3
Directions
Hwy 101 and corner of SW Hurbert
Standard status
Active
APN
111108BD-5400-00
Size
3,960 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6613
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Ductless (Heating)
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Building materials
Cedar
Roof type
Membrane
Listing Agency:
Martek Real Estate
(541) 265-8785
Listed By:
Doretta L Smith · License #200707030
(541) 961-6688
Added: Jun 17
Changed: Aug 4
Last Checked: Aug 11 at 7:06PM
MLS# 26-1671
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.
Investment Insights
Based on property information with market context.
This four-unit retail building sits on a corner site and is zoned C-1 Commercial. All four units are currently leased. The property is described as highly visible from Hwy 101, and it is located within the City Center Revitalization Zone, where upcoming grants are noted for facades.
The building is adjacent to a city parking lot, supporting customer access. The property is also noted to be within a few blocks of the ocean beaches, placing it in a high-traffic area. Drive-bys are welcome; prospective parties are asked not to disturb tenants.
With a total building size of 3,960 square feet on a 0.11-acre lot, this is a multi-tenant retail asset presented for sale with income already in place through its current leases.
The building is adjacent to a city parking lot, supporting customer access. The property is also noted to be within a few blocks of the ocean beaches, placing it in a high-traffic area. Drive-bys are welcome; prospective parties are asked not to disturb tenants.
With a total building size of 3,960 square feet on a 0.11-acre lot, this is a multi-tenant retail asset presented for sale with income already in place through its current leases.
Key Highlights
- 4‑unit building on a corner of Hwy 101 and Hurbert Street, zoned C‑1
- All four units are currently leased
- Public water and public sewer
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
$48,195
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
8.76%
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%
$963,900
$963.9K
Cap Rate 7%
$688,500
$688.5K
Cap Rate 9%
$535,500
$535.5K
Market Conditions
NOI Build-Up for 3,960 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
$71.3K $18.00/SF
− Vacancy
−$2.4K −$0.61/SF
EGI
$68.8K $17.39/SF
− OpEx
−$20.7K −$5.22/SF
NOI
$48.2K $12.17/SF
Area
Lincoln County, OR
Vacancy
3.41%
Lease Rate
$18.00 /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%
$963,900
Cap Rate 7%
$688,500
Cap Rate 9%
$535,500
Alternative Uses
Best Use
Retail
$688.5K
$602.4K – $803.3K
NOI $48,195 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$903.8K – $1.21M
NOI $72,303 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Four leased retail units in a C-1 commercial corner building with visibility from Hwy 101.
Where is this retail space located?
The property is located at 715 SW Hurbert Street Newport, OR.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4‑unit building on a corner of Hwy 101 and Hurbert Street, zoned C‑1; All four units are currently leased; Public water and public sewer
