Excellent owner-user or investment opportunity consisting of two separate, recently remodeled flex office/warehouse spaces at 404 & 406 Newport, totaling approximately 5,800 SF on approximately 33,733 SF of land.? Both spaces feature overhead doors and have recently undergone interior improvements including luxury vinyl plank (LVP) flooring, fresh paint, and upgraded LED lighting, providing clean, modern, move-in-ready office environments.? Both spaces offer functional office layouts combined with warehouse/storage areas, making the property ideal for contractors, service businesses, and companies needing professional office space with additional storage and fleet parking.
404 Newport – ±2,400 SF features a reception area, two private offices, open bullpen/work area with kitchenette, conference room, warehouse/storage space, and an overhead door.
406 Newport – ±3,400 SF features a reception area, six private offices, conference room with sink, two restrooms, warehouse/storage space, and an overhead door.
This property offers an excellent opportunity for an owner-occupant to operate from one building while leasing the second space to help offset ownership costs. The property may also be well suited for SBA 504 financing, potentially allowing a qualified owner-user to purchase with as little as 10% down. For investors, leasing both spaces at a projected market base rental rate of approximately $15.00/SF could generate a pro forma NOI of approximately $87,000 annually, nearly 9% Pro Forma CAP rate.