Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2998 Riv Rd New Hope, PA 18938-9529
    Back to Search
    Property profile & analytics

    2998 Riv Rd, New Hope, PA 18938-9529

    View on Map
    • Hotels
    • 8,064 SF
    • 0.63 lot acres
    Off-Market
    Last Sale Dec 30, 2020
    Property ID
    US73-1220224
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Centre Bridge Inn / Wedding Service
    • The Rrazz Room / Theater & Performing Art Venue / Music Venue
    • The Inn at Centre Bridge / Restaurant

    Property Details for 2998 Riv Rd

    Year built
    1900
    Lot size
    0.63 lot acres
    Zone code
    VC
    Property type
    Hotels
    Property subtype
    Motels
    APN
    41-019-015
    APU
    41019015

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 20, 2023 — Centre Bridge Holdings LLC — Deed · related $1.6M · Advest Short Duration Real Estate Fund I
    Dec 30, 2020 $1,350,000 Centre Bridge Holdings LLC Centre Bridge Inn INC Grant Deed $1.2M · Advest Short Duration R/e Fund
    Jun 4, 2003 — Centre Bridge Inn INC Stephen R Dugan INC Grant Deed $1.1M · National Penn Bank
    — — Stephen R Dugan INC — Deed Of Trust · related $710k · First Service Bank
    — — Centre Bridge Inn INC — Deed Of Trust · related $174k · First Service Bank
    — — Centre Bridge Inn INC — Deed Of Trust · related $74k · First Service Bank
    — — Centre Bridge Inn INC — Deed Of Trust · related $50k · First Service Bank
    — — Stephen R Dugan INC — Deed Of Trust · related $740k · Individual

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Hope
    County
    Bucks
    State
    Pennsylvania
    Longitude
    -74.9799
    Latitude
    40.4015
    CBSA code
    37980
    CBSA name
    PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $28,883
    $25,860
    $150,600
    $176,460
    -
    $354,245
    $2,063,005
    $2,417,250

    Comparable in this City

    • Value Estimation
      $800,000
      18,630 SF

      6426 Lowr York Rd

      HOTEL/MOTEL
      6426 Lowr York Rd, New Hope, PA 18938-5696
      View Details
    • Value Estimation by Request
      6,192 SF

      131 Main St

      HOTEL/MOTEL
      131 Main St, New Hope, PA 18938-1329
      View Details
    • Value Estimation
      $975,000
      33,721 SF

      274 Main St

      HOTEL/MOTEL
      274 Main St, New Hope, PA 18938-1212
      View Details
    • Value Estimation
      $1,560,000
      34,816 SF

      10 Fry St

      HOTEL/MOTEL
      10 Fry St, New Hope, PA 18938-1312
      View Details
    • Value Estimation by Request
      462 SF

      400 Brg St

      HOTEL/MOTEL
      400 Brg St, New Hope, PA 18938-1004
      View Details
    • Value Estimation by Request
      8,069 SF

      50 Main St

      HOTEL/MOTEL
      50 Main St, New Hope, PA 18938-1344
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4.63 Acres

      Office Suite Near New Hope

      Ground-floor office suite in antique stone building with water views.
      6319 Lower York Rd, New Hope, PA 18938
      View Details
    • $1,600,000
      2,818 SF

      Buckingham Township Equestrian Estate

      30-acre equestrian estate with barns, paddocks, and a colonial home.
      1581 Holicong Rd, New Hope, PA 18938
      View Details
    • Contact for pricing
      3,740 SF

      Retail Space For Sale

      Retail space available with a 5.00% CAP rate.
      449 York Rd, New Hope, PA 18938
      View Details
    • $4,490,000

      New Hope Church and Parsonage

      Church property with parsonage, classrooms, kitchen, playground, and ample parking.
      2536 Aquetong Rd, New Hope, PA 18938
      View Details
    • $1,475,000

      Mixed-Use Property on 1.28 Acres

      Two-tenant property with commercial and residential units on 1.28 acres.
      419 York Rd, New Hope, PA 18938
      View Details
    • $5,949,000
      7,051 SF

      Grand Equestrian Estate with Luxury Barn

      Meticulously planned estate with a state-of-the-art equestrian complex.
      2727 Aquetong Rd, New Hope, PA 18938
      View Details

    Similar Nearby for Lease

    • $1,800 /Mo

      Charming Retail Space in New Hope

      Prime location in New Hope's thriving business district.
      15 W Fry St #Ste, New Hope, PA 18938
      View Details
    • $3,250 /Mo

      Bright Office Space Overlooking Canal

      Second-floor office space with natural light and canal views.
      30 W Brg St #4, New Hope, PA 18938
      View Details
    • Contact for pricing

      Prime Storefront in County Row

      Storefront space in a multi-tenant retail center in New Hope.
      6446 Lower York Rd, New Hope, PA 18938
      View Details
    • $3,000 /Mo

      Office Space in New Hope

      Commercial lease opportunity in a desirable New Hope location.
      8 Village Row, New Hope, PA 18938
      View Details
    • $2,800 /Mo

      Prime Retail/Office Space in New Hope

      High-visibility retail or office space in New Hope's shopping district.
      15 W Ferry St, New Hope, PA 18938
      View Details
    • $2,550 /Mo

      Charming Office Suite Near New Hope

      Ground-floor office suite in antique stone building with water views.
      6319 Lower York Rd, New Hope, PA 18938
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2998 Riv Rd
    New Hope, PA 18938-9529
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2998 Riv Rd, New Hope, PA, 18938
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!