38140 State Route 7 Newport, OH 45768
- Mixed-use properties
- 2.30 lot acres
Current Use by Public Records
- Mixed-use properties
Property Details for 38140 State Route 7
- Year built
- 1975
- Lot size
- 2.30 lot acres
- Property type
- Mixed-use properties
Description
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
Value Estimation
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newport
- County
- Washington
- State
- Ohio
- Longitude
- -81.2295
- Latitude
- 39.3883
