28 State StNewtown, PA 18940

Property Details for 28 State St

Year built

2001

Property size (Sq ft)

3,613 SF

Zone code

VC

Property type

Office properties

Property subtype

Other office properties

APN

28-002-014-001

APU

28002014001

Description

This exceptional investment opportunity presents a 3,613 square foot office space ideally located in the heart of Newtown Borough, Pennsylvania, directly below the District Court offices. Currently configured as a fully operational fitness center, this daylight walkout space offers significant potential for a variety of professional uses. The property boasts ample off-street parking in a rear lot, providing convenient access for clients and employees. A key advantage of this investment is the existing tenant, the seller, who will remain in occupancy. This ensures a consistent rental income stream, covering rent, insurance, property taxes, utilities, and HOA fees. The property's prime location and existing improvements make it an attractive proposition for investors seeking a stable, high-return asset in a thriving community. The strong tenant occupancy minimizes vacancy risk and provides immediate cash flow. This is a rare opportunity to acquire a well-maintained, income-producing property in a highly sought-after location. The existing fitness center layout offers a turnkey solution for a similar business or provides a flexible foundation for a variety of other professional uses. The ample parking further enhances the property's appeal and functionality. This investment offers a compelling blend of location, income, and potential for future appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $597,337

  6.5%

  $551,388

  7%

  $512,003

• Comparable approach

  Method

  Valuation

  Relative Method

  $472,075

  Geo Method

  $472,075

• Alternative Use

  Use

  Valuation

  Residential

  $683,721

  Hospitality

  $626,285

  Educational

  $521,062

  Medical

  $538,982

  Retail

  $810,540

Location Insight

City

Newtown

County

Bucks

State

Pennsylvania

Latitude

40.2302

Longitude

-74.9371

CBSA code

37980

CBSA name

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

Property Tax & Assessments

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