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    711 2Nd St Newport, OR 97365

    Sponsored
    For Sale
    $1,350,000

    Prime 2,613 SF lot, $1.35M

    Property size:
    2,276 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial land opportunity in Newport, Oregon, presents a unique investment prospect. Located at 711 NW 2nd Street, this 2,613 square foot lot currently houses a thriving Spanish Tapas restaurant, Zuritas', operating within a 2,276 square foot, two-story building. The sale includes the land and the existing building. Built in 2006, the property offers significant potential for continued operation of the restaurant or redevelopment. The restaurant's ongoing success provides a stable income stream during the marketing period. The property's location in Newport, Lincoln County, Oregon (zip code 97365), offers excellent visibility and accessibility. With its prime location and existing business, this property is an attractive investment for both seasoned and emerging commercial real estate investors. The property's coordinates are 44.6373122 latitude and -124.060938 longitude. The asking price for this exceptional opportunity is $1,350,000. Serious inquiries are encouraged.

    Property Features for 711 2Nd St

    General Information

    Property type
    Land
    Square Feet
    2,276 SF

    Building Details

    Year Built
    2006

    HighLights

    • $1,350,000 asking price.
    • 2,276 square foot building on a 2,613.6 square foot lot.
    • Located at 711 NW 2nd Street, Newport, OR 97365.
    • Built in 2006.
    • Currently operating as a Spanish Tapas restaurant.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Lincoln
    State
    Oregon
    Longitude
    -124.060938
    Latitude
    44.6373122

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    FAQs

    What type of property is this?
    Land - Prime 2,613 SF lot, $1.35M
    Where is this land located?
    The property is located at 711 2Nd St Newport, OR.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: $1,350,000 asking price.; 2,276 square foot building on a 2,613.6 square foot lot.; Located at 711 NW 2nd Street, Newport, OR 97365.
    Request Owner's contact information
    711 2Nd St Newport, OR 97365
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    Newport, OR 97365
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    Realmo Value Estimation

    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.

    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.

    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
    711 2Nd St Newport, OR 97365
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