Amazing Investment opportunity in the trendy coastal neighborhood of Nye Beach in Newport, Oregon! Archway Place is a 5,250 SF retail property with 8 parcels – divided into 4 suites, 100% occupied – all leases are multi-year w/ renewal options & all are NNN (individually metered for electricity). Cap rate is 5.54% w/ a 5-year AVG of 5.8%. Built in 2008, Archway Place is exceptionally well maintained. Onsite parking lot for employees and customers. Residential condos above retail spaces. Retail space addresses are: 305 NW Coast St, 315 NW Coast St, 701 Beach Dr and 715 Beach Dr. HOA account covers most/all maintenance and improvements.
Facts and Features
Property Type: Retail Property