515 Coast St Newport, OR 97365-3517
- Turn key restaurants
- 4,147 SF
- 0.14 lot acres
Current Use by Public Records
- The Taphouse at Nye Creek / Family Restaurant / Sports Bar
Property Details for 515 Coast St
- Year built
- 1974
- Lot size
- 0.14 lot acres
- Property size
- 4,147 SF
- Zone code
- C-2;COMMERCIAL
- Property type
- Turn key restaurants
- APN
- 11-11-05-CC-07900-00
- APU
- 111105CC0790000
Description
This exceptional Newport, Oregon, commercial property, located at 515 NW Coast Street, presents a unique investment opportunity. The 4,180 square foot building, constructed in 1974 and renovated in 2017, sits on a 14,374.8 square foot lot. Currently operating as a successful taphouse, the property boasts a full restaurant and bar, generating over $1,800,000 in gross revenue. Key features include 30 beer taps, a state-of-the-art brick pizza oven, and a class 1 hood system. The spacious interior features 25-foot ceilings, an oversized dining room with multiple TVs, and two ADA-compliant restrooms. The single-level layout ensures accessibility. Ample dedicated parking is available, including a separate lot. The property's prime location offers ocean views and proximity to beach access, making it a popular destination for both locals and tourists. This offering includes the taphouse, two additional commercial storefronts, and the parking lot, all available for purchase together. The property is zoned for Commercial, Restaurant, Garage/Parking, and Bar uses. The asking price is $2,195,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Lincoln
- State
- Oregon
- Longitude
- -124.061
- Latitude
- 44.6395
- CBSA code
- 35440
- CBSA name
- NEWPORT, OR MICROPOLITAN STATISTICAL AREA
