57 2Nd StNewport, PA 17074

Property Details for 57 2Nd St

Lot size

0.19 AC

Zone code

PCBD

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

190,046.04-083.000

APU

19004604083000

Description

This exceptional mixed-use property at 57 N 2nd Street, Newport, PA, presents a unique investment opportunity. Built in the 1830s, this 8,276 square foot building sits on a 0.19-acre lot and offers a blend of residential and commercial potential. Currently configured with one completed 1-bedroom residential unit featuring a private kitchen and bath, the property also includes space for up to three additional residential units on the second and third floors. The layout is adaptable and could easily accommodate a bed and breakfast, Airbnb, or other multi-family residential use. Two commercial spaces are also available, perfect for retail or a restaurant. The sale includes a liquor license and numerous recently purchased pieces of restaurant equipment, along with a fully furnished bar. Architectural drawings are available upon request. The property has recently undergone an inspection of the grille hood. Please note that the buyer is responsible for all costs associated with obtaining any necessary zoning, code, and engineering permits. The seller is willing to consider financing options. This is a rare chance to acquire a piece of Newport's history and create a thriving business or residential complex. Priced at $629,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,417,166

  6.5%

  $1,308,154

  7%

  $1,214,714

• Comparable approach

  Method

  Valuation

  Relative Method

  $773,804

  Geo Method

  $520,643

• Alternative Use

  Use

  Valuation

  Residential

  $1,622,110

  Hospitality

  $1,485,844

  Educational

  $1,236,205

  Medical

  $1,278,720

  Retail

  $1,922,986

Location Insight

City

Newport

County

Perry

State

Pennsylvania

Latitude

40.4785

Longitude

-77.1318

CBSA code

25420

CBSA name

HARRISBURG-CARLISLE, PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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