Newport, OR 97365

Property Details

Lot size

0.11 AC

Property size (Sq ft)

8,344 SF

Property type

Retail properties

Description

This exceptional two-story commercial building, totaling 8,344 square feet, sits on a 0.11-acre lot in the heart of Newport, Oregon, boasting excellent visibility from Highway 101. Currently generating a gross annual income of $42,000, this property presents a significant investment opportunity. The ground floor comprises three separate retail units, currently occupied by a Mexican store, a meat market, and another retail establishment. The second floor offers four additional rentable spaces, two of which are currently leased as a yoga studio and a meeting room. This presents a substantial opportunity for increased revenue through the lease of the currently vacant spaces on both floors. The building's prime location and existing tenant base provide a solid foundation for future growth and profitability. The property's size and layout offer flexibility for a variety of commercial uses, making it an attractive investment for both seasoned investors and those new to the commercial real estate market. The strong potential for rental income increases, coupled with the desirable location, makes this a compelling investment opportunity in a thriving Oregon coastal community. The asking price is $599,000. Serious inquiries only.

Location Insight

City

Newport

County

Lincoln

State

Oregon

Latitude

44.6361

Longitude

-124.053

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