Archway Place is a “pride of ownership property” in the trendy coastal neighborhood of Nye Beach in Newport, Oregon. What is being offered for sale is the ground-floor retail portion of a mixed use project. 100% occupied – all leases are multi-year w/ renewal options & all are absolute NNN. Cap rate is 5.48% w/ a 5-year AVG of 5.75%. Archway Place is exceptionally well-maintained. Onsite parking lot for employees and customers.
Residential condos above retail spaces not included.
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