1255 Hwy Fruitvale, OR 97365
- Retail properties
Current Use by Public Records
- Retail properties
Property Details for 1255 Hwy
- Year built
- 1973
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional commercial property, located at 1255 N Hwy 101 in Newport, Oregon, presents a unique investment opportunity. The property boasts a substantial 23,522.4 square foot lot (0.54 acres) offering significant highway frontage on Oregon's Highway 101, a major coastal thoroughfare. The existing single-story commercial building, constructed in 1973, measures 4,970 square feet and currently operates as a restaurant. Its strategic location across from McDonald's and Umpqua Bank ensures high visibility and accessibility. The property includes ample parking, accommodating 35+ vehicles. The C3 Heavy Commercial zoning allows for a variety of uses beyond restaurant operations, providing flexibility for future development. The asking price is $949,000, while the County Real Market Value is $1,494,000. This property consists of two tax lots, providing a significant land holding in a high-demand area. The property is ready for immediate occupancy, however, please do not disturb the current tenants. This is a rare opportunity to acquire a well-situated commercial property with significant potential in a thriving coastal Oregon community.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fruitvale
- County
- Lincoln
- State
- Oregon
- Longitude
- -123.997
- Latitude
- 44.6639
