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    5 N 3Rd St Newark, OH 43055

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    For Sale
    $649,900

    Three-story property in historic downtown Newark with multiple business possibilities.

    Property size:
    8,316 SF
    Lot size:
    0.76 Acres

    Property Features for 5 N 3Rd St

    General Information

    Size
    8,316 SF
    Lot size
    0.76 Acres

    Source: Keller Williams Consultants Realty Agent Kayleen Antritt

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Downtown Newark Mixed-Use Property

    This three-story property is located on the square in historic downtown Newark, overlooking the courthouse. The property includes a usable basement, currently occupied by Mariposa Mexican Cuisine. The second floor features a large, open 2,772-square-foot space with exposed brick and tall floor-to-ceiling windows, with over $50,000 in improvements. This space is suitable for various business or office uses, subject to building approval. The third-floor loft is fully built out with tin ceilings ranging from 14 to 16 feet, Venetian plaster, exposed brick, an open kitchen area, a full bath with a jetted tub, and laundry facilities. Currently used as an Airbnb, the third floor offers flexible usage options. The total property size is 8,316 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Newark Strawberry Festival Association Or Organization W'CChimney&DryerVentCleaning Chimney Sweep Mariposa Mexican Restaurant Explore Licking County Tour Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.4028859
    Latitude
    40.0579715

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    FAQs

    What type of property is this?
    Conventional restaurant - Three-story property in historic downtown Newark with multiple business possibilities.
    Where is this conventional restaurant located?
    The property is located at 5 N 3Rd St Newark, OH.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: - Prime Historic Downtown Newark location overlooking the courthouse.; - Third-floor loft is fully built out with unique features like tin ceilings, venetian plaster, exposed brick, open kitchen, jetted tub, and laundry, currently used as a successful Airbnb.; - Second floor features a large, open 2,772 sq ft space with exposed brick and tall windows, suitable for various business/office uses (with approval) and has had $50k in improvements.
    (614) 932-2000
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    5 N 3Rd St Newark, OH 43055
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    Newark, OH 43055
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5 N 3Rd St Newark, OH 43055
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