Highway Frontage Property with
903/905 SW Coast Hwy, Newport, OR 97365
Commercial property with highway frontage, suitable for retail or services.
Type:Land
Property size:
1,445 SFPrice / SF:
$227/SF- Added:
- Jan 28, 2024
- Days on Market:
- 856
- Last Refresh:
- May 13 at 8:16 pm
Property Features for 903/905 SW Coast Hwy
General Information
- Standard status
- Active
- Size
- 1,445 SF
- Property subtype
- Land
Building Details
- Year Built
- 1955
Listing agent Brodie Becksted License #OR
Listing office Equity Plus Real Estate
Listing date Jan 28, 2024
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 Equity Plus Real Estate
HighLights
- Excellent Hwy 101 frontage offers high visibility and accessibility.
- C‑1 zoning allows for retail and personal services, providing versatile business opportunities.
- Newer Hardie plank siding, roof, and windows offer improved durability and reduced maintenance.
- Location across the street from Samaritan Pacific Communities hospital provides potential customer base.
- Property is currently set up as 4 studio apartments.
- Year Built: 1955
Overview
This property features frontage on Highway 101 and is zoned C-1, which allows for retail and personal services. The building has newer Hardie plank siding, a newer roof, and newer windows. Some finish work and electrical completion are still needed. The property is currently set up as 4 non-conforming studio apartments, which are all vacant. On-street parking is available, but there is no off-street parking. The property is located across the street from Samaritan Pacific Communities Hospital. The property size is 1,445 square feet.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.0k | $18.00 |
| − Vacancy | −$887 | −$0.61 |
| EGI | $25.1k | $17.39 |
| − OpEx | −$7.5k | −$5.22 |
| NOI | $17.6k | $12.17 |
1,445 SF · lease $18.00/SF/yr · vacancy 3.41% · expense 30.00%
Alternative Uses
Best Use
Retail
$251.2K
$219.8K – $293.1K
NOI $17,586 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.9K
$329.8K – $439.7K
NOI $26,383 @ 7.0% cap · market cap 8.02%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Lincoln
- State
- Oregon
- Longitude
- -124.053141
- Latitude
- 44.643493
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - Commercial property with highway frontage, suitable for retail or services.
Where is this commercial land located?
The property is located at 903/905 SW Coast Hwy Newport, OR.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Excellent Hwy 101 frontage offers high visibility and accessibility.; C‑1 zoning allows for retail and personal services, providing versatile business opportunities.; Newer Hardie plank siding, roof, and windows offer improved durability and reduced maintenance.
