700 E 1st St - Storefront Retail/Residential FOR SALE


Newberg, OR 97132
$2,300,000 USD
503-740-9200
700 E 1st St, Newberg, OR for Sale
$2,300,000 USD
Storefront Retail/Residential - FOR SALE
1/40
null | Request Cap Rate

700 E 1st St
Newberg, OR 97132


HIGHLIGHTS

  • Iconic Romanesque-style building
  • Situated on a high-visibility downtown corner
  • Landmark property has been meticulously maintained and is currently a premier professional office venue
  • This is a stabilized, “turn-key” investment featuring a single, long-term tenant
  • Rare on-site parking lot with 16 dedicated spaces
  • New Roof: Installed in 2022

OVERVIEW

Prime Corner Location in the Heart of Historic Downtown Newberg Experience a rare opportunity to own a piece of Newberg’s history. This iconic Romanesque-style building, situated on a high-visibility downtown corner, seamlessly blends turn-of-the-century character with modern structural integrity. Formerly a fraternal meeting hall and later the Ben Franklin Bank, this landmark property has been meticulously maintained and is currently a premier professional office venue. The Opportunity This is a stabilized, “turn-key” investment featuring a single, long-term tenant. With recent capital improvements and a location that defines the “center of town,” this property offers both immediate cash flow and long-term asset appreciation. Building Specifications Total Office Space: 6,330 SF (Fully outfitted for professional use) Storage: Full basement (3,100+ SF) providing ample archival or utility space. Parking: Rare on-site parking lot with 16 dedicated spaces. Architecture: Classic Romanesque masonry with timeless curb appeal. Key Upgrades & Maintenance Invest with confidence knowing the heavy lifting has already been done: New Roof: Installed in 2022. HVAC: Updated rooftop units in 2025 for peak efficiency. Seismic Integrity: Full seismic upgrade and masonry reinforcement completed in 2006. Renovation: Total interior/exterior professional renovation completed in the mid-2000s. Location: A Walkable Hub Located on a central corner in Historic Downtown Newberg, this property boasts a “Walker’s Paradise” atmosphere. Surroundings: Immediately adjacent to thriving retail shops, art galleries, and professional services. Amenities: Steps away from Newberg’s best restaurants and cafes. Visibility: High-traffic corner location ensures the building remains a local landmark. Investment & Viewing Terms Note to Investors: This property is fully leased to a stable, long-term tenant. To ensure business continuity for the occupant, please do not disturb the tenant. VIDEO: https://vimeo.com/1173400903/a423dacb82

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$242 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

C-3

APN/PARCEL ID

49218

ASK ABOUT THIS PROPERTY

Mary Martin Miller, CCIMMiller Consulting Group LLCMore Info
503-740-9200

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Mary Martin Miller, CCIMMiller Consulting Group LLCMore Info
503-740-9200

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