Restaurant with
For Sale
$599,000
25 & 31 North Street, Proctor, VT 05765
Commercial Sale, Proctor, VT
Property Size4,000 SF
Lot Size16.78 Acres
Price / SF$149.75
Days on Market544
Property Features for 25 & 31 North Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Rooms
Basement
Parking features
Off Street, Paved or Surfaced
Accessibility
Accessible Approach with Ramp
Lot features
In Town, Mountain, Neighborhood, Hilly, Landscaped, Mountain View, Pond Site, Sloping, Steep, View, Wooded
Directions
At the end of Main Street, take a left onto North Street and the parking lot in front of the restaurant.
Standard status
Active
Lot size
16.78 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7481
Utilities
Water source
Public
Water front
1
Building Details
Year built
1880
Building materials
Wood Siding
Roof type
Metal
Listing Agency:
EXP Realty
(833) 388-2480
Listed By:
Zachary Zupan
(802) 868-6367
Added: Feb 25, 2025
Changed: Aug 20
Last Checked: Aug 23 at 6:06AM
MLS# 5030232
Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This operating restaurant property includes a building constructed in 1880, two income-producing apartments, and restaurant facilities arranged for both indoor and outdoor dining. The restaurant seats 72 guests, with additional outdoor seating, and includes a bar, pool table, wood flooring, and a commercial kitchen. Inventory and furnishings are included in the transfer.
The property encompasses 16.78 acres across two parcels at 25 & 31 North Street in Proctor. One parcel contains the restaurant and multifamily improvements, while the second includes the Sutherland Falls Quarry. Building features include wood siding, a metal roof, public water service, paved and off-street parking, and an accessible ramp approach. A basement is also present.
The property encompasses 16.78 acres across two parcels at 25 & 31 North Street in Proctor. One parcel contains the restaurant and multifamily improvements, while the second includes the Sutherland Falls Quarry. Building features include wood siding, a metal roof, public water service, paved and off-street parking, and an accessible ramp approach. A basement is also present.
Key Highlights
- Operating restaurant seats 72 people plus outdoor seating
- Two income‑producing apartments included with the restaurant building
- 16.78 acres across two separate parcels
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,500
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$810,000
$810.0K
Cap Rate 7%
$578,571
$578.6K
Cap Rate 9%
$450,000
$450.0K
Market Conditions
NOI Build-Up for 4,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$60.0K $15.00/SF
− Vacancy
−$6.0K −$1.50/SF
EGI
$54.0K $13.50/SF
− OpEx
−$13.5K −$3.38/SF
NOI
$40.5K $10.13/SF
Area
Rutland County, VT
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$810,000
Cap Rate 7%
$578,571
Cap Rate 9%
$450,000
Alternative Uses
Best Use
Specialty Retail
$578.6K
$506.3K – $675.0K
NOI $40,500 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$499.0K
$436.6K – $582.1K
NOI $34,927 @ 7.0% cap · market cap 5.83%
Theoretical Best
Healthcare Medical
$696.4K
$609.4K – $812.5K
NOI $48,751 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 05765, VT
1,722
Population
761
Households
2.3
Avg Household Size
44
Median Age
28%
College-Educated
97%
High-School Grad
7.2 sq mi
ZIP Area
239
Density / Sq Mi
$65,000
Median Household Income
$42,115
Median Earnings
$997
Median Rent
$199,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant property with two apartments, outdoor seating, paved parking, and included furnishings and inventory.
Where is this conventional restaurant located?
The property is located at 25 & 31 North Street Proctor, VT.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Operating restaurant seats 72 people plus outdoor seating; Two income‑producing apartments included with the restaurant building; 16.78 acres across two separate parcels
