Corner Retail Building with Four
For Sale
Contact for pricing
715 SW Hurbert Street, Newport, OR 97365
Four leased retail units in a C-1 corner building highly visible from Hwy 101, with adjacent city parking.
Property Size3,960 SF
Price / SF$138.89
Days on Market56
Property Features for 715 SW Hurbert Street
General Information
Standard status
Active
Size
3,960 SF
Property subtype
Retail
Zoning
C-1 Commercial
Building Details
Year Built
1979
Buildings
1
Listing Agency:
Martek Real Estate
(541) 961-6688
Listed By:
Doretta Smith · License #200707030
Source:
Crexi
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 11 at 11:01AM
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 Martek Real Estate
Investment Insights
Based on property information with market context.
This is a four-unit retail building configured as separate leased spaces within a zoned C-1 property. The building is positioned on a corner and designed for straightforward storefront presentation, supporting a tenant mix suited to neighborhood-oriented retail uses.
The property is located at the corner of Hwy 101 and Hurbert Street in a high-traffic area. It is described as being just a few blocks from the ocean beaches and is within the City Center Revitalization Zone. A city parking lot sits adjacent to the building, and the listing notes visibility from Hwy 101.
For buyers seeking a multi-unit retail acquisition, the current leasing of all four units provides immediate occupancy. The City Center Revitalization Zone designation is noted as offering upcoming grants available for facades, which may be relevant for buyers and operators considering exterior improvements. Drive-bys are welcome, and tenants should not be disturbed.
The property is located at the corner of Hwy 101 and Hurbert Street in a high-traffic area. It is described as being just a few blocks from the ocean beaches and is within the City Center Revitalization Zone. A city parking lot sits adjacent to the building, and the listing notes visibility from Hwy 101.
For buyers seeking a multi-unit retail acquisition, the current leasing of all four units provides immediate occupancy. The City Center Revitalization Zone designation is noted as offering upcoming grants available for facades, which may be relevant for buyers and operators considering exterior improvements. Drive-bys are welcome, and tenants should not be disturbed.
Key Highlights
- Four‑unit retail building built in 1979, located on a corner of Hwy 101 and Hurbert Street
- Zoned C‑1 and highly visible from Hwy 101
- All four units are currently leased
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
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
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Frequently Asked Questions
What type of property is this?
Retail space - Four leased retail units in a C-1 corner building highly visible from Hwy 101, with adjacent city parking.
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: Four‑unit retail building built in 1979, located on a corner of Hwy 101 and Hurbert Street; Zoned C‑1 and highly visible from Hwy 101; All four units are currently leased
