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114 E 2nd St 1,882 SF 47% Leased Office Building Newberg, OR 97132 $449,000 ($238.58/SF) 5.91% Cap Rate
Investment Highlights
- High Upside Potential
- Month-to-Month Tenants
Executive Summary
Multiple Offers received—offer deadline Monday 3/16 at 2PM. Rare opportunity to own a dual-income mixed-use property just one block from the vibrant heart of downtown Newberg. This classic building features four professional office suites downstairs centered around a common reception area, plus a 2-bedroom apartment upstairs with a private exterior entrance. Positioned as a strategic value-add project, the property is ready for a refresh to reach its full potential. Current office tenants are month-to-month and historically below market value, providing an immediate path to increased equity. The site offers eight off-street parking spots and three storage sheds. This is a great opportunity for an investor or owner-user seeking a versatile live-work space in the Yamhill County core.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Investment
Sale Condition
Deferred Maintenance
Property Type
Building Size
1,882 SF
Building Class
C
Year Built
1960
Price
$449,000
Price Per SF
$238.58
Cap Rate
5.91%
NOI
$26,551
Percent Leased
47%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
941 SF
Building FAR
0.21
Lot Size
0.21 AC
Zoning
C-3
Parking
8 Spaces (4.25 Spaces per 1,000 SF Leased)
Amenities
- Storage Space
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 51062 | Total Assessment | $142,366 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
51062
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$142,366 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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114 E 2nd St
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