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    Restaurant with Income-Producing Apartments Title is generated by Realmo AI

    25 & 31 North Street, Proctor, VT 05765

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    For Sale
    $599,000

    Multi-Family - Proctor, VT

    Property size:
    3,978 SF
    Lot size:
    16.78 Acres
    Price / SF:
    $150/SF
    Added:
    Feb 25, 2025
    Days on Market:
    451
    Last Refresh:
    May 22 at 8:06 pm

    Property Features for 25 & 31 North Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Commercial
    Bedrooms
    3
    Rooms
    Basement, Bedroom 1, Bedroom 2, Bedroom 3
    Basement Y/N
    1
    Standard status
    Active
    Size
    3,978 SF
    Lot size
    16.78 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    7480.73

    Utilities

    Heating system
    Baseboard, Oil
    Cooling system
    Multi Units

    Building Details

    Year built
    1880
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Wood
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Zachary Zupan

    Listing agent Zachary Zupan

    Listing office EXP Realty 50 Lakeside Ave., Swanton, VT

    Listing date Feb 25, 2025

    MLS# 5030272 Listing URL

    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.

    HighLights

    • Turnkey restaurant operation with loyal staff, furnishings, and inventory included.
    • Two income‑producing apartments included in the building.
    • Significant land parcel (16.78 acres total) with potential for development/expansion.
    • Historic Sutherland Falls Quarry on the property offers unique income possibilities.
    • Restaurant seats 72 people plus outdoor seating with a state‑of‑the‑art kitchen.
    • Established restaurant with a loyal local following and a warm, welcoming atmosphere.

    Overview

    Located in the historic town of Proctor, this property features a restaurant and two income-producing apartments. The almost 4000 square foot building sits on 16.78 acres of land, divided into two parcels. One parcel consists of 5.66 acres and hosts the restaurant and multi-family building. The other parcel spans 11.12 acres and includes the historic Sutherland Falls Quarry, which presents opportunities for expanded outdoor catering and residential development or subdivision. The restaurant seats 72 people, with additional outdoor seating, and includes a pool table, attractive bar, and a state-of-the-art kitchen. The sale includes inventory and all furnishings, making it a turnkey operation with a loyal staff and convivial atmosphere. The restaurant has wood floors and numerous upgrades. The property is suitable for conventional restaurants, general restaurants, retail, duplexes, multifamily, and residential income purposes.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $447.5K
    NOI $40,277 @ 9.00% cap · cautious / downside scenario
    Moderate
    $575.4K
    NOI $40,277 @ 7.00% cap · market / base-case scenario
    Aggressive
    $805.5K
    NOI $40,277 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $59.7k $15.00
    − Vacancy −$6.0k −$1.50
    EGI $53.7k $13.50
    − OpEx −$13.4k −$3.38
    NOI $40.3k $10.13
    3,978 SF · lease $15.00/SF/yr · vacancy 10.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $575.4K
    $503.5K – $671.3K (±1% cap)
    NOI $40,277 @ 7.0% cap · market cap 6.72%
    Second Best
    Multifamily LT 5
    $538.5K
    $471.2K – $628.3K (±1% cap)
    NOI $37,697 @ 7.0% cap · market cap 6.29%
    Theoretical Best
    Healthcare Medical
    $692.6K
    $606.0K – $808.1K (±1% cap)
    NOI $48,483 @ 7.0% cap · market cap 8.09%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Map

    City
    Proctor
    County
    Rutland
    State
    Vermont
    Longitude
    -73.0368
    Latitude
    43.6518

    Nearby Similar for Sale

    • $499,000

      Restaurant with Income-Producing Apartments

      Restaurant with apartments on 5.66 acres in historic Proctor.
      25 North Street, Proctor, VT 05765
      View Details
    • $499,000
      3,978 SF

      Restaurant with Income-Producing Apartments

      Restaurant with two apartments on 5.66 acres in Proctor.
      25 North Street, Proctor, VT 05765
      View Details
    • $599,000

      Restaurant with Income-Producing Apartments

      Restaurant with apartments and development potential in historic Proctor, Vermont.
      25 & 31 North Street, Proctor, VT 05765
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Restaurant with two apartments on 16.78 acres in Proctor.
    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: Turnkey restaurant operation with loyal staff, furnishings, and inventory included.; Two income‑producing apartments included in the building.; Significant land parcel (16.78 acres total) with potential for development/expansion.
    (802) 430-9929
    We can help!
    Listing Contact
    Zachary Zupan
    Learn More
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    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
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