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

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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