Mixed-Use Property with
For Sale
$599,000
25-31 North Street, Proctor, VT 05765
Operating restaurant with two apartments, outdoor seating, furnishings, and kitchen equipment on a substantial Vermont landholding.
Property Size3,978 SF
Price / SF$150.58
Days on Market553
Property Features for 25-31 North Street
General Information
Standard status
Active
Size
3,978 SF
Property subtype
Multi Family
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$7,481
Amenities
Wall AC Units
Oil, Baseboard
Yes
Wood
Oil Water Heater, Owned Water Heater
2
Interior
Interior Stairs, Interior Access
Metal
Beige
Wood Frame, Wood Siding
Building Details
Year Built
1880
Listing Agency:
EXP Realty
(802) 430-9929
Listed By:
Zachary Zupan · License #VT082.0134350
(802) 430-9929
Source:
Compass
Added: Feb 25, 2025
Changed: Aug 30
Last Checked: Aug 31 at 10:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty
Investment Insights
Based on property information with market context.
This mixed-use property combines an operating restaurant with two income-producing apartments in a 3,978-square-foot building constructed in 1880. The restaurant accommodates 72 guests indoors and also offers outdoor seating, a bar, pool table, wood floors, and a state-of-the-art kitchen. Inventory and furnishings are included. Interior systems include wall AC units, oil-fired baseboard heat, and an owned oil water heater.
The property at 25-31 North Street in Proctor, Vermont, includes 16.78 acres across two parcels. One 5.66-acre parcel contains the restaurant and multifamily building, while the additional 11.12 acres include the Sutherland Falls Quarry. The site is zoned Commercial and includes metal and wood-siding exterior construction.
The property at 25-31 North Street in Proctor, Vermont, includes 16.78 acres across two parcels. One 5.66-acre parcel contains the restaurant and multifamily building, while the additional 11.12 acres include the Sutherland Falls Quarry. The site is zoned Commercial and includes metal and wood-siding exterior construction.
Key Highlights
- 3,978‑square‑foot mixed‑use building constructed in 1880
- Restaurant seats 72 indoors and includes outdoor seating
- Two income‑producing apartments within the property
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
$40,277
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
6.72%
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%
$805,540
$805.5K
Cap Rate 7%
$575,386
$575.4K
Cap Rate 9%
$447,522
$447.5K
Market Conditions
NOI Build-Up for 3,978 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
$59.7K $15.00/SF
− Vacancy
−$6.0K −$1.50/SF
EGI
$53.7K $13.50/SF
− OpEx
−$13.4K −$3.38/SF
NOI
$40.3K $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%
$805,540
Cap Rate 7%
$575,386
Cap Rate 9%
$447,522
Alternative Uses
Best Use
Specialty Retail
$575.4K
$503.5K – $671.3K
NOI $40,277 @ 7.0% cap · market cap 6.72%
Second Best
Mixed Use
$460.3K
$402.8K – $537.0K
NOI $32,222 @ 7.0% cap · market cap 5.38%
Theoretical Best
Healthcare Medical
$692.6K
$606.0K – $808.1K
NOI $48,483 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
65
Businesses Nearby
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Operating restaurant with two apartments, outdoor seating, furnishings, and kitchen equipment on a substantial Vermont landholding.
Where is this mixed-use property 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: 3,978‑square‑foot mixed‑use building constructed in 1880; Restaurant seats 72 indoors and includes outdoor seating; Two income‑producing apartments within the property
