316 Coast Hwy Newport, OR 97365-4928
- Retail space
- 8,344 SF
- 0.11 lot acres
Current Use by Public Records
- Retail space
Property Details for 316 Coast Hwy
- Year built
- 1962
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.11 lot acres
- Property size
- 8,344 SF
- Zone code
- C-1;COMMERCIAL
- Property type
- Retail space
- APN
- 11-11-08-BD-06100-00
- APU
- 111108BD0610000
Description
This exceptional 8,344 square foot commercial building presents a lucrative investment opportunity in the heart of Newport, Oregon. Strategically located on SW Coast Highway, Unit 316 boasts excellent visibility from Highway 101, ensuring high traffic and exposure for your tenants. The property sits on a 0.11-acre lot and is currently generating a gross annual income of $42,000. The building's layout is comprised of three distinct ground floor retail spaces, currently occupied by a Mexican store, a meat market, and a retail shop. Upstairs, four additional spaces are available, with two currently leased as a yoga studio and a meeting room. This presents a significant opportunity to increase revenue by leasing the currently vacant units. The C-1 zoning allows for a wide variety of commercial uses, providing flexibility for future tenants and maximizing investment potential. Its central location offers unparalleled convenience, with close proximity to the hospital, the Bayfront, numerous restaurants, shopping centers, and the ocean. This property is being sold as-is. Prospective buyers are responsible for conducting their own due diligence and verifying all intended uses with the City of Newport. Please do not disturb the tenants.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Lincoln
- State
- Oregon
- Longitude
- -124.056
- Latitude
- 44.6338
- CBSA code
- 35440
- CBSA name
- NEWPORT, OR MICROPOLITAN STATISTICAL AREA
