605 E Olive St - Retail FOR SALE


Newport, OR 97365
$247,500 USD
541-961-2653
605 E Olive St, Newport, OR for Sale
$247,500 USD
Retail - FOR SALE
1/12
null | Request Cap Rate

605 E Olive St
Newport, OR 97365


HIGHLIGHTS

  • High traffic HWY frontage
  • Potential 85-90% Lot Coverage (restrictions may apply)
  • Near Newport's Bayfront

OVERVIEW

Prime C-3 Zoned Commercial Lot with Highway 20 Frontage. Exceptional opportunity to acquire a high-exposure commercial property within Newport city limits. Positioned directly on Highway 20 with approximately 50 feet of frontage, this site offers unmatched visibility and access just above the iconic Bayfront District. C-3 (General Commercial) zoning supports a wide range of high-traffic business uses and allows for substantial development flexibility, including up to 85-90 percent lot coverage and building heights up to 50 feet (buyer to verify with the City of Newport for specific site constraints or approvals). The property currently features a small standalone structure with a drive-through window-ideal for a variety of small-scale retail or service applications. Do Not Disturb Tenant. Previously operated as a coffee kiosk and now home to a dog grooming business, the existing building provides a functional footprint for owner-users or tenants seeking immediate use. Alternatively, redevelop the site to maximize its commercial potential. This is a rare chance to secure a highly trafficked, build-ready commercial parcel in a central Newport location with excellent proximity to local tourism, residential density, and major travel routes. The sale does not include the business.

FOR SALE DETAILS

PRICE

$247,500 USD

PRICE/SF

$664 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,663 SF

ZONING

C-3

APN/PARCEL ID

R321480

ASK ABOUT THIS PROPERTY

Casey O'CallaghanMartek Real EstateMore Info
541-961-2653

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Casey O'CallaghanMartek Real EstateMore Info
541-961-2653

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.