Turnkey Restaurant and
For Sale
$499,000
25 North Street, Proctor, VT 05765
Turnkey restaurant with seating for 72, plus two income-producing apartments on a 5.66-acre parcel.
Property Size4,000 SF
Lot Size5.66 Acres
Price / SF$124.75
Days on Market54
Property Features for 25 North Street
General Information
Standard status
Active
Size
4,000 SF
Lot size
5.66 Acres
Property subtype
Commercial
Zoning
Commercial
Additional Details
Business Included
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,151
Building Details
Year Built
1880
Units
3
Listing Agency:
Exp Realty
(802) 430-9929
Listed By:
Zachary Zupan
(802) 430-9929
Source:
Startpoint
Added: Jun 30
Changed: Aug 8
Last Checked: Aug 21 at 1:24PM
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 offering combines an almost 4,000-square-foot restaurant facility with two income-producing apartments in a single property on a 5.66-acre parcel. The restaurant is described as a complete, functioning turnkey operation, with inventory and furnishings included in the transfer. Interior features noted include wood floors, a pool table, an attractive bar, and a state-of-the-art kitchen. The dining area seats 72, with additional outdoor seating available.
The property includes both restaurant and multifamily components, supporting an owner-operator or multi-income structure. The public remarks also indicate the restaurant building can be purchased alone as listed here, or as part of a larger contiguous acquisition together with an 11.12-acre property referenced as the historic Sutherland Falls Quarry (MLS#5030232).
For tenants and operators seeking a ready-to-run foodservice concept, the restaurant’s described setup and included inventory may reduce initial operational ramp-up. For buyers looking for diversified on-site income, the presence of two apartments within the same building provides an immediate residential component alongside the restaurant operations. Buyers should review the separately listed upgrade information and confirm all details during inspection.
The property includes both restaurant and multifamily components, supporting an owner-operator or multi-income structure. The public remarks also indicate the restaurant building can be purchased alone as listed here, or as part of a larger contiguous acquisition together with an 11.12-acre property referenced as the historic Sutherland Falls Quarry (MLS#5030232).
For tenants and operators seeking a ready-to-run foodservice concept, the restaurant’s described setup and included inventory may reduce initial operational ramp-up. For buyers looking for diversified on-site income, the presence of two apartments within the same building provides an immediate residential component alongside the restaurant operations. Buyers should review the separately listed upgrade information and confirm all details during inspection.
Key Highlights
- Almost 4,000 SF Franklin's Restaurant built in 1880 with seating for 72 plus outdoor seating
- Includes wood floors, a pool table, an attractive bar, and a state‑of‑the‑art kitchen
- Inventory and all furnishings are included in the transfer for the operating restaurant
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
8.12%
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 8.12%
Second Best
Multifamily LT 5
$541.5K
$473.8K – $631.8K
NOI $37,906 @ 7.0% cap · market cap 7.60%
Theoretical Best
Healthcare Medical
$696.4K
$609.4K – $812.5K
NOI $48,751 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
65
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Turnkey restaurant with seating for 72, plus two income-producing apartments on a 5.66-acre parcel.
Where is this conventional restaurant located?
The property is located at 25 North Street Proctor, VT.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Almost 4,000 SF Franklin's Restaurant built in 1880 with seating for 72 plus outdoor seating; Includes wood floors, a pool table, an attractive bar, and a state‑of‑the‑art kitchen; Inventory and all furnishings are included in the transfer for the operating restaurant
