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    714 SW Hurbert St Newport, OR 97365
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    714 SW Hurbert St, Newport, OR 97365

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    • Office Spaces
    • 1,008 SF
    • 0.07 lot acres
    For Sale
    $350,000
    View Listing →
    Newport Commercial Spot Near Beach For Sale
    $350,000
    1,008 SF

    Newport Commercial Spot Near Beach

    Commercial spot in Newport's City Center, less than half mile to beach.

    714 SW Hurbert Street, Newport, OR 97365
    View Listing
    Property ID
    US71-0642623
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 714 SW Hurbert St

    Year built
    1938
    Construction
    WOOD
    Lot size
    0.07 lot acres
    Zone code
    C-1;COMMERCIAL
    Property type
    Office Spaces
    APN
    11-11-08-BD-05000-00
    APU
    111108BD0500000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 12, 2019 $150,000 Blood & Sand LLC Gary L Burda Warranty Deed $160k · Oregon Coast Bank
    Apr 9, 2014 — Burda & E Goldberg Living Trust Goldberg,neena Quit Claim Deed · related —
    May 8, 2006 $175,000 Gary L Burda Morrow,karleene L Warranty Deed —

    Description

    This exceptional 3,049.2 square foot commercial land parcel, located at 714 SW Hurbert Street in Newport, Oregon (zip code 97365), presents a unique investment opportunity. The property, built in 1938, boasts a 1,008 square foot footprint and has undergone significant improvements. These include a new roof, electrical panel and meter, natural gas hookup, a bump-out designed for ADA-compliant bathrooms, reinforced structural beams, attractive vaulted ceilings, new floor joists, and a new sewer line. The property's location within Newport's City Center offers easy access to amenities and is less than half a mile from the beach. Ample parking is available, including street parking, a nearby public lot, and dedicated parking in the rear with potential for an ADA-accessible stall. The rear of the property provides space for a patio or garden. This site is situated within the Newport City Center Revitalization Plan, potentially opening doors to grant funding for facade improvements. Interested parties should contact the City of Newport directly to learn more about the revitalization plan and permitted land uses. The asking price for this remarkable property is $350,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Lincoln
    State
    Oregon
    Longitude
    -124.057
    Latitude
    44.6334
    CBSA code
    35440
    CBSA name
    NEWPORT, OR MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,987
    $0.00
    $0.00
    $109,470
    -
    $73,630
    $105,750
    $179,380

    Comparable in this City

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      $1,380,000
      4,064 SF

      957 Coast Hwy

      OFFICE (GENERAL)
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    • Value Estimation
      $565,000
      1,862 SF

      1010 Coast Hwy, Unit 2

      OFFICE (GENERAL)
      1010 Coast Hwy, Newport, OR 97365-5288
      View Details
    • Value Estimation
      $1,165,000
      4,372 SF

      607 Hurbert St

      OFFICE (GENERAL)
      607 Hurbert St, Newport, OR 97365-4998
      View Details
    • Value Estimation by Request
      540 SF

      231 Olive St

      OFFICE (GENERAL)
      231 Olive St, Newport, OR 97365-3040
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    • Value Estimation
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      6,891 SF

      162 10th St

      OFFICE (GENERAL)
      162 10th St, Newport, OR 97365-3105
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    • Value Estimation by Request
      2,080 SF

      163 11th St

      OFFICE (GENERAL)
      163 11th St, Newport, OR 97365-3108
      View Details

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    Newport, OR 97365
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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