242 Olive St Newport, OR 97365

This exceptional commercial property at 242 W Olive Street in Newport, Oregon, presents a unique investment opportunity. Boasting 2,295 square feet on a sizable 12,632.4 square foot lot, this building offers stunning ocean views and benefits from its location in a high-traffic area. Built in 1957, the property features a well-designed layout spread across two levels. The main level comprises a reception area, four individual offices, a kitchen-break room, and a bathroom. The upper level mirrors this functionality with its own reception area, two offices, a kitchen/break room, and a second bathroom. Each level enjoys independent utility metering, including separate forced-air gas furnaces and heat pumps with air conditioning, ensuring efficient energy management. A key aspect of this sale includes a mandatory 48-month leaseback agreement with the seller. Showings are strictly by appointment only. This property is zoned for commercial and medical office use, making it ideal for a variety of businesses. The property's size and location make it a highly desirable asset in the vibrant Newport market. Don't miss this chance to acquire a well-maintained, income-producing property with significant potential.