220 State St Newport, AR 72112-4140
This 1,500 square foot creative office space, located at 220 S State St in Newport, Arkansas (72112), is available for $80,000. The property, situated on a 7,500 square foot lot, boasts a prime location on the corner of State and Congress Streets, benefiting from high traffic volume due to its proximity to US 67. Originally built in 1951, the building underwent extensive renovations in 2017, resulting in an effective age of 22 years, according to tax records. Exterior features include a stucco facade, a single glass entry door with an awning, and a recently replaced (2023) section of the south roof. The interior features two mini-split wall-mounted heating and cooling systems, laminate flooring, paneled walls, and a drop ceiling with recessed fluorescent lighting. The space includes a half-bath, a back storage room (potentially convertible to a private office), and a spacious area suitable for files or additional workstations. The layout currently incorporates temporary partition walls, allowing for flexible configuration to suit the buyer's needs. Ample parking is available, including an asphalt area in front and gravel parking alongside the building. A large (approximately 8x14 foot) billboard-style sign, conveying with the property, offers excellent visibility and potential for advertising revenue. The property is zoned CI and presents a strong opportunity for either retail or office use. Minimal work is needed to begin operations.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
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Risks
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