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    One-Story Nursing Facility Building Title is generated by Realmo AI

    148 Prouty Drive, Newport City, VT 05855

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    COMMERCIAL - Newport City, VT

    Property size:
    23,511 SF
    Lot size:
    4.60 Acres
    Added:
    Oct 23, 2024
    Days on Market:
    589
    Last Refresh:
    Jun 3 at 11:06 pm

    Property Features for 148 Prouty Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    PHO - Newport Commercial
    Accessibility
    Accessible Approach with Ramp
    Standard status
    Active
    Lot size
    4.60 Acres

    Utilities

    Utilities
    Propane
    Heating system
    Propane (Heating), Baseboard, Electric (Heating), Wall Furnace
    Water source
    Public

    Building Details

    Year built
    1972
    Building materials
    Masonry, Brick Exterior, Brick Veneer Exterior, Vinyl Siding, Wood Siding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Dexter Degre

    Listing agent Dexter Degre

    Listing office Jim Campbell Real Estate 601 East Main Street, Newport, VT

    Listing date Oct 23, 2024

    MLS# 5019689

    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

    • 23,511 SF one‑story brick building on a secluded 4.6‑acre parcel with a large parking lot
    • Former 60‑bed nursing home facility with multiple reception areas, admin offices, and a large nursing station
    • Kitchen and dining lounge plus 4 single‑occupancy rooms w/ private bath and 28 double‑occupancy rooms w/ shared bath
    • Zoning: PHO (Newport, VT – Public Health Office); documents tab lists approved uses
    • City water and sewer, plus 3‑phase power (400amp, 600V); backup propane generator on‑site
    • Wet sprinkler system; includes a 2‑car garage/maintenance shop and miscellaneous storage

    Overview

    This one-story brick building totals 23,511 square feet and is set on a secluded 4.6-acre parcel with mature landscaping and a large parking lot. The former 60-bed nursing home facility includes multiple reception areas, administration offices, and a large nursing station, along with medical closets and staff support spaces. Interior improvements also include a full commercial kitchen, dining lounge, and multiple washrooms, plus a commercial laundry room, activity and snack rooms, hair salon room, and storage and supply closets throughout.

    The building is available for lease right across from North Country Hospital, with close proximity to North Country Union High School. City water and sewer are available, and the site includes a 2-car garage/maintenance shop, miscellaneous storage, and a medical waste shed. Power is served by 3-phase, 400-amp, 600V service, supported by an on-site backup propane generator. The property is equipped with a wet sprinkler system.

    The layout is designed for an institutional healthcare tenant seeking a ready-to-operate facility with multiple private and shared occupancy rooms, dedicated dining and kitchen service areas, and substantial clinical and support infrastructure. Zoning is PHO (Newport, VT Public Health Office), and the landlord prefers a long-term lease to one well-qualified tenant but will consider demising the space as needed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Nursing homes

    Similar Places Nearby

    • Orleans Essex Visiting Nurse Association and Hospice — 46 Lakemont Rd, Newport, VT 05855

    Map

    City
    Newport City
    County
    Orleans
    State
    Vermont
    Longitude
    -72.20142481
    Latitude
    44.953903

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    FAQs

    What type of property is this?
    Nursing home - One-story brick healthcare building with full commercial kitchen, nursing station, and ample parking on a 4.6-acre parcel.
    Where is this nursing home located?
    The property is located at 148 Prouty Drive Newport City, VT.
    What are key features of this property?
    This property features: 23,511 SF one‑story brick building on a secluded 4.6‑acre parcel with a large parking lot; Former 60‑bed nursing home facility with multiple reception areas, admin offices, and a large nursing station; Kitchen and dining lounge plus 4 single‑occupancy rooms w/ private bath and 28 double‑occupancy rooms w/ shared bath
    (802) 334-3400
    We can help!
    Listing Contact
    Dexter Degre
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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.

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    148 Prouty Drive, Newport City, VT 05855
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