711 2Nd St Newport, OR 97365

Property Details for 711 2Nd St

Year built

2006

Property size

2,276 SF

Property type

Specialty properties

Property subtype

Retail properties

Description

This exceptional property at 711 NW 2nd St, Newport, Oregon, presents a unique investment opportunity. Currently operating as a successful tapas restaurant, "Zuritas," this 2-story, 2,276 square foot building sits on a 5,175 square foot lot and offers immense versatility. Built in 2006, the structure is zoned C-2, allowing for a range of commercial and potentially residential uses. The building boasts a full-service restaurant and bar setup, ready for immediate operation or creative repurposing. Located in the heart of Nye Beach, a vibrant neighborhood renowned for its culinary scene, inns, and hotels, this property enjoys a prime location just two blocks from the beach, ensuring high visibility and foot traffic. The asking price is $1,350,000, and the property is offered free and clear, representing a compelling value-add investment in a thriving coastal Oregon community. The existing restaurant infrastructure provides a solid foundation for continued success in the hospitality sector, while the flexible zoning opens doors to diverse commercial ventures or even mixed-use development. This is an exceptional chance to acquire a well-situated property with significant upside potential in a desirable coastal market.

Location Insight

City

Newport

County

Lincoln

State

Oregon

Longitude

-124.061

Latitude

44.6373