2728 Highway 101Lincoln City, OR 97367

Property Details for 2728 Highway 101

Year built

1965

Construction

WOOD

Lot size

0.21 AC

Property size (Sq ft)

1,824 SF

Zone code

G-C;GENERAL COMMERCIAL

Property type

Office properties

Property subtype

Other office properties

APN

07-11-11-BB-03601-00

APU

071111BB0360100

Description

Exceptional investment opportunity in Lincoln City, Oregon. This 3,268 square foot commercial building boasts a prime location on Highway 101, offering approximately 95 feet of high-visibility frontage. The property, built in 1965 and situated on an 8,712 square foot lot, includes 11 rental spaces: eight self-storage units and three business spaces, all currently fully leased to long-term tenants. The upper level comprises three office spaces totaling 1,824 square feet (Unit A: 455 sq ft, Unit B: 914 sq ft, Unit C: 455 sq ft), while the lower level houses the eight storage units, totaling 1,444 square feet. The property generates a substantial gross annual income of $40,344. Showings are by appointment only; please do not disturb tenants. This is a rare chance to acquire a well-established, high-income-producing commercial property in a desirable location. The property is zoned for commercial, executive office, traditional office, and storefront uses. This turnkey investment is ready for a new owner.

• CAP approach

  CAP return

  Valuation

  6%

  $335,092

  6.5%

  $309,316

  7%

  $287,222

• Comparable approach

  Method

  Valuation

  Relative Method

  $287,287

  Geo Method

  $467,364

• Alternative Use

  Use

  Valuation

  Residential

  $383,552

  Hospitality

  $351,331

  Educational

  $292,303

  Medical

  $302,356

  Retail

  $454,694

Location Insight

City

Lincoln City

County

Lincoln

State

Oregon

Latitude

44.985

Longitude

-124.007

CBSA code

35440

CBSA name

NEWPORT, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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