Redevelopment Opportunity with Restaurant
224 North Main Street Rutland, VT 05701
For Sale
$825,000
Redevelopment opportunity with existing restaurant, kitchen, and dairy bar.
Property Size36,225 SF
Lot Size4.21 Acres
Price / SF$22.77
Days on Market713
Property Features for 224 North Main Street
General Information
Standard status
Active
Size
36,225 SF
Lot size
4.21 Acres
Property subtype
Commercial/Industrial
Building Details
Year Built
1947
Listing Agency:
Ault Commercial Realty, Inc.
(802) 353-1169
Listed By:
Ray Ault
(802) 353-1169
Source:
Exitrealty
Added: Aug 17, 2024
Changed: Jul 10
Last Checked: Jul 29 at 8:23AM
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 Ault Commercial Realty, Inc.
Investment Insights
Based on property information with market context.
This property presents a redevelopment opportunity, potentially including restoration of the existing restaurant, kitchen, and part of the dairy bar building, encompassing approximately 9,500 to 12,000 square feet. The remaining portion of the 36,225 square foot building may require demolition, although the steel frame may have salvage value. In its prime during the mid-1980s, the complex comprised three interconnected buildings: a 9,534 square foot restaurant building, a 21,111 square foot dairy building with a 2,400 square foot dairy bar, and a 5,580 square foot distribution center featuring a drive-thru truck wash/repair bay and a 3-bay garage equipped with three 12'x14' overhead doors. Additional structures on the site include a former two-story residence in disrepair near the south property line and a large Quonset storage building toward the rear north side of the property. Approximately two-thirds of the building is in serious disrepair, with roof, ceilings, and some floors collapsing. Soil contamination has been identified and registered with the State, and further testing is required. The property is located in Rutland City, VT.
Key Highlights
- Offered at 15% below August 2022 appraised value, a 21% inflation‑adjusted savings.
- Significant tax assessment reduction, lowered to $770,800.
- Redevelopment opportunity to restore restaurant, kitchen, and part of the dairy bar.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Specialty property - Redevelopment opportunity with existing restaurant, kitchen, and dairy bar.
Where is this specialty property located?
The property is located at 224 North Main Street Rutland, VT.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Offered at 15% below August 2022 appraised value, a 21% inflation‑adjusted savings.; Significant tax assessment reduction, lowered to $770,800.; Redevelopment opportunity to restore restaurant, kitchen, and part of the dairy bar.
