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Property profile & analytics
OFF-MARKET Estimated value $215,000
Office buildings

220 State St Newport, AR 72112-4140

1,500 SF 0.17 ac lot Built 1951
Individually Owned 9-yr Hold ~ Est. High Equity
Property ID
US05-1026739
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1951
Total area 1,500 SF
Lot 0.17 ac (7,492 SF)
APN 013-01918-000
UPID US05-1026739
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$280k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$215k
Owner & transaction history
Lonnie Drew Hohn · 9 yrs held
Lonnie Drew Hohn
since 2017
3 recorded transactions
2017
$67,500
2016
$7,500
2013
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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