1118 SW Canyon Way, Newport, OR 97365 (MLS# 24-49)

$1,850,000

1118 SW Canyon Way
Newport, OR 97365
MLS# 24-49
2 baths | 5000 sqft

1 / 18

Property Description
REAL ESTATE ONLY. Newly Built Building with excellent tenant (Brewery and Restaurant) located in the Newport Historic Bayfront District. 4 Bayview lots with 21 parking spaces. 5000 sq. ft building with long term tenant. Business, Inventory and Equipment not included. Excellent opportunity for an investor looking for long term tenant with good cap rate. Net of approx. $105,000 per year. Recent appraisal in mid 2023 for $2,260,000.00. Manager of LLC is a licensed Real Estate Broker in the State of Oregon.

Details

Maps

Contract Information

Current Price: $1,850,000

List Price: $1,850,000

Begin Date: 2024-01-09

BA Comm: 1

BA Comm Type: %

Listing Type: Exclusive Right To Sell

Bank/Lender Owned?: No

Short Sale: No

3rd Party Approval: No

General Property Description

Major Area: Newport/South Beach

Minor Area: Bayfront District

Frontage: None

Primary View: Bridge

Secondary View: Bridge

Total Bathrooms: 2

Levels: One

Total SqFt.: 5000

Year Built: 2019

# of Acres: 0.54

Garage Type: Attached

Garage Stall: 2

Association: No

CC&Rs: No

Location, Tax and Other Information

House Number: 1118

Street Direction Pfx: SW

Street Name: Canyon

Street Sfx: Way

County: Lincoln

State/Province: OR

Postal Code: 97365

Property Tax ID #: R225146

Additional Tax ID #s: TL 16400, 16401 & 19000

Parcel Nbr: 111108BD-16500-00

Tax Map Number: 111108BD

Tax Lot: 16500

Taxes$: 13410.96

Tax Year: 2023

Tax Remarks: All tax lots

Tax District: 115

Zoning: C-1 Commercial

Neighborhood Code: N416

Subdivision: Bayley and Case's

Hwy 101: East Side

Directions: Hwy 101 to SW Hurbert to SW Canyon Way to Newport Brewing Company

Status Change Info

Status: Active

General Info

Building Type: Brewpub

Condition: Excellent

Possession: COE

# Units: 1

Internal Features

Water Heater: Gas

Range/Oven: Gas

Business

Business Name: Newport Brewing Comp

Equip/FF Incl Y/N: Yes

Equip/FF Value: 700000

List Avail Y/N: Yes

Inventory Incl Y/N: Yes

MDSE/SUPP INC? Y/N: Yes

Property Features

Business Description: Restaurant

Roof: Metal

Siding: Other

Foundation: Slab

Outbuildings: None

Street Surface: Paved

Internal Features: Dishwasher; Microwave; Refrigerator

Cooling: HVAC Cool

Heating: Ductless Heat Pump

Alternate Heat: Electric Fireplace

Electric: On Property

Gas: On Property

Business: Non-Comp Agreement

Sellers Terms: 1031; Cash; Conventional

Possession: Close Of Escrow

Listing Office: Equity Plus Real Estate

Last Updated: April - 14 - 2024

1118 SW Canyon Way, Newport, OR 97365 - MLS# 24-49

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