115 Highway 101Waldport, OR 97394

Property Details for 115 Highway 101

Year built

1969

Construction

WOOD

Lot size

0.24 AC

Property size (Sq ft)

1,107 SF

Zone code

DD;DOWNTOWN DISTRICT

Property type

Retail properties

APN

13-11-19-BD-09400-00

APU

131119BD0940000

Description

This exceptional mixed-use property, situated at 115 SW Hwy 101 in Waldport, Oregon, presents a compelling investment opportunity. The 10,454.4 square foot lot, built in 1969, currently houses two thriving businesses: Left Coast Burger Shack and Espresso 101, resulting in a 50% occupancy rate. The asking price is $445,000. The property's classification includes land, mixed-use, and retail, with subtypes encompassing commercial, restaurant, and bar uses. Its strategic location directly on the busy Highway 101 ensures high visibility and accessibility. The property also features additional parking at the rear, offering potential for expansion and the addition of a third tenant. This almost quarter-acre lot provides ample space for future development or enhancement of existing businesses. The property benefits from its proximity to both Newport (15 miles south) and Florence (35 miles north), offering access to significant shopping and recreational areas. Waldport's unique coastal location, where the forest meets the sea, adds to the property's appeal and potential for growth. This is a rare chance to acquire a well-located, income-producing property with significant upside potential in a desirable Oregon coastal town. The property is zoned for commercial, restaurant, and bar uses.

• CAP approach

  CAP return

  Valuation

  6%

  $320,549

  6.5%

  $295,891

  7%

  $274,756

• Comparable approach

  Method

  Valuation

  Relative Method

  $714,789

  Geo Method

  $714,789

• Alternative Use

  Use

  Valuation

  Residential

  $249,595

  Hospitality

  $228,628

  Educational

  $190,216

  Medical

  $196,757

  Retail

  $295,891

Location Insight

City

Waldport

County

Lincoln

State

Oregon

Latitude

44.4259

Longitude

-124.067

CBSA code

35440

CBSA name

NEWPORT, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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