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Property profile & analytics
FOR SALE
Turn key restaurants
1118 Cyn Way, Newport, OR 97365
Entity Owned
9-yr Hold
Free & Clear
Property ID
US71-1420924
For Sale
1 / 159
$1,695,000
1118 Cyn Way, Newport, OR 97365
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Property summary
AI-generated overview
This exceptional fee-simple property, located at 1118 SW Canyon Way in Newport, Oregon's historic bayfront district, presents a lucrative investment opportunity. The 2019-built, 5,000 square foot commercial building sits on a substantial 23,522.4 square foot lot and boasts a long-term tenant, a thriving brewery and restaurant, generating a gross annual income of $120,000. The property includes four bayview lots and ample parking for 21 vehicles. The sale includes the land and building only
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2017
Total area
4,932 SF
Lot
0.27 ac (11,761 SF)
Zoning code
C-1;COMMERCIAL
APN
11-11-08-BD-16500-00
UPID
US71-1420924
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Anchor @ Newport Brewing Company Restaurant
-
Newport Brewing Company Production Facility Brewery & Distillery
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.24M
Blend (final)
Blend
$1.24M
Owner & transaction history
Ocean Equity Investments LLC · 9 yrs held
Ocean Equity Investments LLC
since 2017
7 recorded transactions
Zoning & alternative use
C-1;COMMERCIAL · Newport, OR
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Newport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,220,000
Current use
COMMERCIAL (GENERAL)
$1,190,000
Change: -2% · Conversion: Easy
RETAIL STORES
$980,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$1.24M
Range $1.12M – $1.36M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$251 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$11,180
Tax year 2023
Assessed value
$616,040
Assessed 2023
Previous assessed
$598,100
+3.0% YoY
Effective rate
1.81%
On assessed value
Land market value
$201,550
Improvement market value
$831,810
Total market value
$1,033,360
Applied tax rate
115.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
2017
Heating
FLOOR/WALL FURNACE
Buildings
4
Bathrooms
1
Total area
4,932 SF
Lot
0.27 ac (11,761 SF)
Zoning code
C-1;COMMERCIAL
APN
11-11-08-BD-16500-00
UPID
US71-1420924
Jurisdiction
LINCOLN
Zoning & alternative use
C-1;COMMERCIAL · Newport, OR
Zoning C-1;COMMERCIAL · permitted uses
C-1;COMMERCIAL · Newport, OR
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Newport. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
RETAIL STORES
Est. value
$980,000
RESTAURANT Current
COMMERCIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2017
Heating
FLOOR/WALL FURNACE
Buildings
4
Bathrooms
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Ocean Equity Investments LLC
Entity
Free & Clear · 9 yrs held
Mailing address
1107 SW COAST HWY, NEWPORT, OR 97365-5238
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2023
—
Ocean Equity Inestments LLC
—
Deed
related
$1,600,000 · Oregon Coast Bank
Apr 23, 2019
—
Ocean Equity Investments LLC
—
Deed
related
$870,000 · Mel P Sherbourne
Feb 7, 2019
—
Ocean Equity Investments LLC
—
Deed
related
$795,000 · Mel P Sherbourne
May 31, 2018
—
Ocean Equity Investments LLC
—
Deed
related
$595,000 · Mel P Sherbourne
May 9, 2017
$150,000
Ocean Equity Investments LLC
Abram K Silvonen
Warranty Deed
related
—
May 5, 2016
$104,000
Abram K Silvonen
Schibig,paul L
Warranty Deed
$130,000 · Eric K Silvonen
Jan 17, 2007
$500,000
Advocate Group Ents
Schibig,paul L
Warranty Deed
$200,000 · Westar Funding Corp
—
—
Ocean Equity Investments LLC
—
Loan Modification
related
$795,000 · Mel P Sherbourne
—
—
Ocean Equity Investments LLC
—
Loan Modification
related
$870,000 · Mel P Sherbourne
—
—
Ocean Equity Investments LLC
—
Deed Of Trust
related
$595,000 · Mel P Sherbourne
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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