Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    57 2nd St Newport, PA 17074-1502

    • Investment properties
    • 0.19 lot acres
    OFF-MARKET
    Last Sale
    Mar 04, 2024
    $130,000
    Value Estimations
    $130,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US73-1346152
    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.

    Current Use by Public Records

    • Investment properties

    Property Details for 57 2nd St

    Lot size
    0.19 lot acres
    Zone code
    PCBD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    190,046.04-083.000
    APU
    19004604083000

    Description

    This exceptional mixed-use property at 57 N 2nd Street, Newport, PA, presents a unique investment opportunity. Built in the 1830s, this 8,276 square foot building sits on a 0.19-acre lot and offers a blend of residential and commercial potential. Currently configured with one completed 1-bedroom residential unit featuring a private kitchen and bath, the property also includes space for up to three additional residential units on the second and third floors. The layout is adaptable and could easily accommodate a bed and breakfast, Airbnb, or other multi-family residential use. Two commercial spaces are also available, perfect for retail or a restaurant. The sale includes a liquor license and numerous recently purchased pieces of restaurant equipment, along with a fully furnished bar. Architectural drawings are available upon request. The property has recently undergone an inspection of the grille hood. Please note that the buyer is responsible for all costs associated with obtaining any necessary zoning, code, and engineering permits. The seller is willing to consider financing options. This is a rare chance to acquire a piece of Newport's history and create a thriving business or residential complex. Priced at $629,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $130,000
      ML approach
      $130,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Perry
    State
    Pennsylvania
    Longitude
    -77.1318
    Latitude
    40.4785
    CBSA code
    25420
    CBSA name
    HARRISBURG-CARLISLE, PA 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
    $3,058
    $11,600
    $108,300
    $119,900
    -
    $11,600
    $108,300
    $119,900

    Comparable in this City

    • Value Estimation
      $260,000
      1,056 SF

      56 5th St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,056 SF
      56 5th St, Newport, PA 17074-1107
      View Details
    • Value Estimation
      $225,000
      0.04 Acres

      Ss 2nd St 33rd S 2nd St St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.04 Acres
      Ss 2nd St 33rd S 2nd St St, Newport, PA 17074
      View Details
    • Value Estimation
      $110,000
      1,468 SF

      23 4th St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,468 SF
      23 4th St, Newport, PA 17074-1021
      View Details
    • Value Estimation
      $255,000
      0.07 Acres

      St 229th Walnut St St Walnut

      OFFICE/RESIDENTIAL (MIXED USE) • 0.07 Acres
      St 229th Walnut St St Walnut, Newport, PA 17074
      View Details
    • Value Estimation
      $260,000
      0.65 Acres

      5th St 135th S St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.65 Acres
      5th St 135th S St, Newport, PA 17074
      View Details
    • Value Estimation
      $515,000
      0.20 Acres

      19 21st N 2nd St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.20 Acres
      19 21st N 2nd St, Newport, PA 17074
      View Details

    Similar Nearby for Sale

    • $39,900
      1.00 Acre

      One Acre Lot Near Route 322

      One acre lot, convenient location near shopping and Route 322.
      31 Red Hill Rd, Newport, PA 17074
      View Details
    • Contact for pricing
      850,000 SF

      Newport, PA Industrial Development

      850,000 SF Build-to-Suit Opportunity
      42 Shortcut Rd, Newport, PA 17074
      View Details
    • $219,900

      Renovated Triplex Investment Opportunity

      Well-maintained triplex with strong rental potential in Newport, PA.
      323 Market St St, Newport, PA 17074
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      64,489 SF

      Newport Plaza Retail Center

      Perry County Retail Space Available
      2 Newport Plz, Newport, PA 17074
      View Details
    • Contact for pricing

      Commercial Land Near Newport Plaza

      Commercial land with high visibility and access for lease.
      14 W Shortcut Rd, Newport, PA 17074
      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.
    57 2nd St
    Newport, PA 17074-1502
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.