1. Vermont
  2. Newport City
  3. 125 Main Street
$350,000

125 Main Street, Newport City, VT 05855

  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1978
  • Property Lot Size Icon3,920sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 1 year ago

Property Description

This listing courtesy of Ryan Pronto, Jim Campbell Real Estate

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.

Listing Status:
Active
Date Added:
May 25, 2024 at 05:00AM
Listing Office:
Jim Campbell Real Estate : 802-334-3400
Listing Agent:
Ryan Pronto : 802-334-3400
MLS ID:
4997382
  • Basement: Climate ControlledConcrete FloorFinishedFullStairs - InteriorWalkout
  • A/C: Central ACOther
  • Heating: Hot AirIn CeilingMulti ZonePropane
  • Disability Feature: Zero-Step Entry RampOne-Level BusinessAccess ParkingHard Surface FlooringNo Stairs from ParkingPaved Parking

This listing courtesy of Ryan Pronto, Jim Campbell Real Estate

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

N

Newport City Elementary School

166 Sias Ave, Newport, VT, 05855

Grades PK-6

1.03 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.