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501 NW Coast St 6,505 SF Vacant Retail Building Newport, OR 97365 $2,394,000 ($368.02/SF)
INVESTMENT HIGHLIGHTS
- Heavy daytime foot traffic
- Ample parking
- Beach access nearby
EXECUTIVE SUMMARY
Brand new PVC membrane roofs are being installed, and the former restaurant and taphouse is undergoing a full professional deep cleaning! The price has been slashed, and the seller is motivated; bring an offer! Prime commercial investment opportunity in the Nye District. A former restaurant and bar, this property is fully equipped and is ready for its next chapter, offering an incredible investment opportunity. The sale includes all existing furnishings, fixtures, and equipment, making it a turnkey space for a new concept. Located in a high-foot-traffic area near beach access, this property benefits from a steady flow of locals and tourists alike. In addition to the restaurant/bar space, the sale includes an additional parking lot and two commercial storefronts. Both storefronts are currently leased, providing immediate rental income. The sale for the storefronts is for the real estate only, not the existing businesses. Take advantage of this opportunity today!
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Bulk/Portfolio Sale
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,505 SF
Building Class
C
Year Built/Renovated
1974/2017
Price
$2,394,000
Price Per SF
$368.02
Percent Leased
Vacant
Building Height
1 Story
Building FAR
0.22
Lot Size
0.69 AC
Zoning
C-2 - Sales-oriented, general retail, parking facility, basic utilities & roads.
Parking
34 Spaces (5.23 Spaces per 1,000 SF Leased)
Frontage
300’ on NW Coast Street
AMENITIES
- Corner Lot
- Restaurant
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- BJ's Ice Cream Parlor
- Retailer
- -
- -
- -
- -
- Gift store
- Retailer
- -
- -
- Triple Net
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| BJ's Ice Cream Parlor | Retailer | - | - | - | - | |
| Gift store | Retailer | - | - | Triple Net | - |
Walk Score®
Very Walkable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $213,490 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$213,490
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501 NW Coast St
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