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Property profile

242 W Olive St Newport, OR 97365

FOR SALE
Other office properties
Property ID
US71-0408948
2,295 SF 0.29 ac lot Built 1957
Last sale May 2010 · $275,000
Individually Owned Owner of record is an individual. 16-yr Hold Held for 16 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This two-level office building contains approximately 2,295 square feet and is arranged with reception areas, multiple offices, kitchen-break rooms, and bathrooms on both the main and upper levels. Each level has separate metering and is served by a forced-air gas furnace and heat pump system with air conditioning. The property is located in a high-traffic area of Newport and is described as having ocean views. The sale process historically required a mandatory leaseback for a defined period; the building itself is structured for office use.

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$6k
Tax billed · 2023
Assessed value$339k
Effective rate1.81%

Value estimate

· Oct 2026
$275k
$248k – $303k
Submarket $/SF estimate$706k
NOI build-up
Gross scheduled income$61k
Vacancy & credit loss−$14k
Operating expenses−$12k
NOI · 6.10% cap applied$35k

Realmo valuation models over county records.

Recently sold

What actually traded nearby?
$241/SF
ZIP average, outlier-cleaned · 29 recorded sales of this use type
Observed band · Q1–Q3$146 – $379

Cap rate analysis

How does the asset earn?
6.10%
$35k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
C-1;COMMERCIAL
JurisdictionLINCOLN

Location intelligence

Which uses thrive at this corner?
Best fit: Convenience Store
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Convenience Store10.1
HVAC Service9.3
Parking Facility9.2

Location

242 W Olive St Newport, OR 97365
County assessor Recorded deeds · 2 transfers Qualifying comp sales · not on file Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 10 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
313 2nd, Newport, OR 97365-3800 $585,000 Mar 2025 2,405 SF
1061 Avery, Newport, OR 97365-3038 $500,000 Jan 2025 3,121 SF
928 Hurbert, Newport, OR 97365-4715 $250,000 Aug 2024 3,100 SF
127 Eads, Newport, OR 97365-2840 $101,731 Feb 2023 2,685 SF
147 11th, Newport, OR 97365-3108 $400,000 Nov 2021 2,350 SF
306 Olive, Newport, OR 97365-2947 $400,000 Sep 2021 1,819 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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