662 Penn StNewtown, PA 18940

Property Details for 662 Penn St

Year built

2004

Lot size

7.09 AC

Property size (Sq ft)

35,713 SF

Zone code

L1

Property type

Office properties

Property subtype

Office buildings

APN

29-010-033

APU

29010033

Description

This exceptional 88,746+/- square foot Class A executive office building, located at 662 Penn Street in Newtown, Pennsylvania (zip code 18940), presents a unique owner-user opportunity. Constructed in 2004, this free-standing building boasts a striking two- and partial three-level design situated on a 7.1-acre lot within a Limited Industrial District. The main entrance opens to a welcoming reception area and a dramatic two-story atrium, serving as the building's central hub. The second floor is conveniently accessible via an atrium staircase and an elevator, which also services the lower level. The first floor features a comprehensive layout including private offices, open plan workspaces with cubicles, a spacious 100+ seat lunchroom complete with an outdoor terrace, a mail/copy room, a dedicated computer server room, two multi-stall restrooms, and a well-equipped receiving area with convenient tailgate loading doors. Medical office use is permitted by right within the LI zoning. The asking price for this impressive property is $20,000,000. This is an owner-user opportunity, not an investment/capital markets offering.

• CAP approach

  CAP return

  Valuation

  6%

  $5,904,426

  6.5%

  $5,450,239

  7%

  $5,060,936

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,666,260

  Geo Method

  $4,666,260

• Alternative Use

  Use

  Valuation

  Residential

  $6,758,296

  Hospitality

  $6,190,563

  Educational

  $5,150,476

  Medical

  $5,327,608

  Retail

  $8,011,852

Location Insight

City

Newtown

County

Bucks

State

Pennsylvania

Latitude

40.225

Longitude

-74.9215

CBSA code

37980

CBSA name

PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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