$975,000
Newport, OR 97365
MLS# 26-2087
5 baths | 23035 sqft
1 / 31
Property Description
Newport's iconic Walker Building, previously home to Newport's skating rink and bowling alley, is now offered for sale for the first time in 24 years. The main building contains 21,375 square feet of mixed use commercial space with an additional 1,660 square feet in the secondary building. Currently divided into 7 rental spaces, stable long term tenants with annual gross rents totaling $82,147.44. Prime location in the middle of town with plenty of on street and off street parking. The building has been well maintained and is in solid condition. Lots of potential for a variety of mixed use options.
Details
Maps
Documents
Status Change Information
Status Change Timestamp: 2026-07-29
Address
Street Number: 638
Street Direction Prefix: SW
Street Name: Hurbert
Street Suffix: Street
County: Lincoln
State: OR
Postal Code: 97365
Directions: From Highway 101 in the Deco District, turn west on NW Hurbert. Continue ahead to property on the left.
Cross Street: SW 7th
Parcel Number: 111108BD-2700-00
Within City Limits?: Yes
Currently Not Used
Association YN: No
Building
Number Of Buildings: 2
Year Built: 1915
Year Built Source: Assessor
Year Built Details: Main bldg. built in 1915, secondary bldg. in 1960
Stories Total: 2
Accessibility Features YN: No
Lot
Lot Size Acres: 0.34
Lot Size Square Feet: 14810.4
Water Body Access YN: No
Accessory Dwelling Unit YN: No
View YN: Yes
Building and Property Details
Building and Property Condition: Good
Exterior Color: Grey
Income and Expenses
Cap Rate: 6.5
Gross Income: 82147.44
Insurance Expense: 1246.83
Net Operating Income: 63253.53
Total Actual Rent: 6845.62
Trash Expense: 197.95
Water Expense: 150.5
Business Details
Equip/FF Incl Y/N: No
Additional Tax and Location Information
Account #: R463452
Highway 101: West Side
Neighborhood Code: N416
Property Tax ID #: R463452
Subdivision Block: 61
Subdivision Parcel/Lot: 4-6
Subdivision Phase/Addition: 2
Tax District: 115
Listing Information
Listing Association Name: Lincoln County BOR
Property Sub Type: Mixed Use
Contract
Current Price: $975,000
Status: Active
Begin Date: 2026-07-29
List Price: $975,000
Listing Agreement: Exclusive Right To Sell
Listing Service: Full Service
Tax Legal
Subdivision Name: Bayley and Case's
Tax Annual Amount: 13885.28
Tax Year: 2025
Zoning: C-1 Commercial
Tax Lot: 2700
Tax Map Number: 111108BD
Interior
Above Grade Finished Area: 23035
Living Area: 23035
Building Area Source: Owner
Bathrooms Total: 5
Parking Information
Garage YN: 1
Garage Spaces: 1
Unit Details
Number Of Units Leased: 7
Property Features
Building Features: Anchor Tenant; Kitchen Facilities; Lounge; Private Restroom(s); Separate Office Area; Storage
Construction Materials: Wood Siding
Existing Lease Type: Gross
Flooring: Carpet
Foundation Details: Concrete Perimeter; Slab
Heating: Electric
Levels: Two
Listing Terms: 1031 Exchange; Cash; Conventional
Location of Property: Central Business District
Lot Features: Level
Other Structures: Shed(s)
Owner Pays: Exterior Maintenance; Sewer; Water
Parking Features: Additional Parking; Off Street; On Street
Possession: Subject To Tenant Rights
Road Frontage Type: City Street
Road Responsibility: Public Maintained Road
Road Surface Type: Paved
Roof: Composition
Sale Includes: Building; Land
Sewer: Public Sewer
Special Listing Conditions: Standard
Tenant Pays: Electricity; Internet
Water Body Type: Ocean
Water Body View: Yes
Water Source: Public
Showing Considerations: Occupied
Showing Requirements: Appointment Only; Call Listing Office
Building Layout 
Listing Office: Advantage Real Estate
Office Email: info@advantagerealestate.com
Last Updated: August - 28 - 2026
Information deemed reliable but not guaranteed.
Broker Attribution:
(541) 265-2200