1107-1125 Coast Hwy Newport, OR 97365

Property Details for 1107-1125 Coast Hwy

Year built

1928

Property size

6,000 SF

Property type

Land

Description

This exceptional Newport, Oregon commercial property, located at 1107-1125 SW Coast Highway, presents a unique investment opportunity. The 4,791.6 square foot lot features a fully renovated mixed-use building constructed in 1928. The building boasts three ocean-view residential apartments and three ground-floor commercial spaces, all benefiting from stunning ocean and bridge views. Extensive renovations completed in 2017 and 2018 include new wiring and plumbing, ductless heating and A/C systems in each unit, tankless hot water heaters, fiber optic internet and phone lines, hardy plank siding, vinyl windows, and a new roof. The interior has undergone a complete modern remodel, featuring new floors, walls, sheetrock, kitchens, offices, and bathrooms. The property generates over $100,000 in gross annual income, offering an attractive cap rate exceeding 8 percent. The building's excellent tenant history adds to its investment appeal. This 6,000 square foot building is priced at $997,000 and represents a compelling opportunity for discerning investors seeking a high-performing commercial property in a desirable coastal location. The property's strong income stream and recent renovations make it a truly exceptional investment.

Location Insight

City

Newport

County

Lincoln

State

Oregon

Longitude

-124.061

Latitude

44.6265