Property profile

38140 State Route 7 Newport, OH 45768

OFF-MARKET
Mixed-use properties
2.3 ac lot Built 1975
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Property summary

AI-generated overview

This exceptional mixed-use property in Newport, OH, presents a unique investment opportunity. Situated on a 2.3-acre lot with Ohio River frontage, the property boasts a main building (10,780 square feet gross floor area) that formerly housed a grocery store, and a secondary building (1,020 square feet gross floor area) currently leased by the Newport Post Office. The main building features a new roof installed in November 2015 and offers a partial second floor suitable for office space. Potential uses include an antique mall, thrift store, or similar ventures. The Post Office lease is up for renewal, with the tenant expressing interest in a new 5-year lease with a new owner. The Post Office building received a new HVAC system in 2019. Additionally, a Harris Trailer Court, comprising 36 full-hookup RV sites, generates substantial rental income. Sites currently rent for $600 per month, with occupancy averaging 10-20 sites during summer months and year-round bookings. The property benefits from high daily traffic volume, with an estimated 6,000 cars passing by daily. The current owner covers insurance (including flood insurance) and property taxes

Property profile

Verified
Property type Mixed-use properties
Year built 1975
Lot 2.3 ac (100,188 SF)

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

38140 State Route 7 Newport, OH 45768
Newport metro
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Value estimations

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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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