793 Penns Park RdNewtown, PA 18940

Property Details for 793 Penns Park Rd

Year built

1740

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.17 AC

Property size (Sq ft)

4,488 SF

Zone code

VC1

Property type

Office buildings

APN

53-014-027

APU

53014027

Description

This exceptional commercial property, located at 793 Penns Park Rd, Newtown, PA 18940, presents a unique investment opportunity. The property encompasses two buildings totaling 5,200 square feet, situated on a 2.9-acre lot. The main building, approximately 3,696 square feet, and the secondary building, approximately 1,504 square feet, boast a blend of historic charm and modern functionality. Originally constructed circa 1740 and subsequently expanded in 1988, the buildings feature attractive architectural details including six aesthetically restored fireplaces, hardwood floors, beam ceilings, and impressive built-in bookshelves. The property benefits from a highly visible corner location at the intersection of Second Street Pike and Penns Park Road, offering excellent signage opportunities and convenient access to major routes. Ample parking is available, with a ratio of 7 spaces per 1,000 square feet. The property is zoned VC-1 & VR-1 and is situated within the Penns Park Historic District, offering a strong demographic profile and proximity to various amenities, including restaurants and service-oriented businesses at The Gathering, as well as local retailers and the Wrightstown Medical Center. The beautifully manicured grounds and driveway access from both Penns Park Road and Second Street Pike enhance the property's appeal. Recent improvements and updates have been made, ensuring a turn-key setup suitable for a variety of uses. The asking price is $1,495,000.

• CAP approach

  CAP return

  Valuation

  6%

  $742,000

  6.5%

  $684,924

  7%

  $636,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $586,402

  Geo Method

  $586,402

• Alternative Use

  Use

  Valuation

  Residential

  $849,305

  Hospitality

  $777,959

  Educational

  $647,253

  Medical

  $669,513

  Retail

  $1,006,838

Location Insight

City

Newtown

County

Bucks

State

Pennsylvania

Latitude

40.2663

Longitude

-74.9973

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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