538 Coast HwyNewport, OR 97365

Property Details for 538 Coast Hwy

Year built

1944

Lot size

0.45 AC

Property size (Sq ft)

11,864 SF

Zone code

C-1;COMMERCIAL

Property type

Hotels

Property subtype

Motels

APN

11-11-08-BC-08500-00

APU

111108BC0850000

Description

This commercially zoned property at 538 SW Coast Highway in Newport, Oregon, presents a unique investment opportunity. Boasting a substantial 19,602 square foot lot, the property enjoys approximately 80 feet of frontage along the highly trafficked Highway 101. The commercial zoning allows for a wide range of potential uses, making it ideal for entrepreneurs and developers alike. While a previous motel building has been removed and a small basement filled in, the cleared lot offers a blank canvas for new construction. The property's strategic location provides easy access to numerous amenities, including restaurants, attractions, and miles of sandy beaches. Adding to its appeal, an existing billboard sign on the property generates a consistent monthly income stream through a current lease agreement. The potential for ocean views from a second-story building further enhances the property's desirability. Located in Lincoln County, Oregon, with a zip code of 97365, this property is priced at $842,886. This is a rare chance to acquire a well-situated commercial parcel in a thriving coastal community.

• CAP approach

  CAP return

  Valuation

  6%

  $2,475,626

  6.5%

  $2,285,193

  7%

  $2,121,965

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,391,276

  Geo Method

  $7,143,795

• Alternative Use

  Use

  Valuation

  Residential

  $2,494,767

  Hospitality

  $2,285,193

  Educational

  $1,901,254

  Medical

  $1,966,641

  Retail

  $2,957,506

Location Insight

City

Newport

County

Lincoln

State

Oregon

Latitude

44.6321

Longitude

-124.06

CBSA code

35440

CBSA name

NEWPORT, OR MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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