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Listed by Ryan Pronto • Jim Campbell Real Estate
$350,000
Est. payment /mo
7,190 SqFt
Active
125 Main ST Newport City, VT 05855
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,190 sqft
Price per Sqft $48
MLS Listing ID 4997382
Year Built 1978
Annual Tax Amount $8,576
Tax Year 2025
Lot Size 3,920 Sqft
Acres 0.09
Property Description
3-Unit commercial investment property in a prime location on Main St in beautiful downtown Newport, VT. Units #1 and #2 have strong long-term tenants placed and Unit #3 is available - can be leased out for income or a buyer can operate their business here. Currently a 6.3% Cap Rate factoring in 48% vacancy (lower level) with a pro-forma Cap Rate of 10.94% (numbers are projected only). With all the foot-traffic downtown, this building is ideal for most any type of retail store, restaurant, gift shop, clothing boutique, office, bakery, cafe, etc. Offering great potential as an income producing property when all three units are leased. The street level features Unit #1 that is leased long term to a restaurant with 1500+ SF & a hood system and Unit #2 that is leased long term to a vape/gift shop with 1600 SF and a private bathroom. Unit #3 offers 3500 SF that used to be a fully equipped restaurant/bar space with a professional kitchen and is currently finished with 13 individually leased storage rooms/office (hood system is still installed). Unit #3 is located on the walkout lower level with access from the parking lot in the rear of the building. This is a well maintained property with a new roof installed in July 2019. Downtown offers ample on street parking, several municipal parking lots and this property offers direct access to the city owned parking lot in the rear of this building. Additional information and net operating income available to qualified buyers.
Location
State VT
County Vt-orleans
Area Vt-Orleans
Zoning Commercial
Rooms
Basement Entrance Walkout
Basement Climate Controlled, Concrete Floor, Finished, Full, Interior Stairs, Walkout
Interior
Cooling Central AC, Other
Inclusions Equipment, Land/Building
Exterior
Utilities Available Cable, Cable at Site, Propane
Water Access Desc No
Roof Type Asphalt Shingle,Tar and Gravel
Building
Sewer Public
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