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    Restaurant with Attached Apartments Title is generated by Realmo AI

    25 North Street, Proctor, VT 05765

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    For Sale
    $499,000

    MULTI_FAMILY - Other - Proctor, VT

    Property size:
    3,978 SF
    Lot size:
    5.66 Acres
    Price / SF:
    $125/SF
    Added:
    Feb 25, 2025
    Days on Market:
    464
    Last Refresh:
    Jun 4 at 2:06 am

    Property Features for 25 North Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Commercial
    Bedrooms
    3
    Rooms
    Bedroom 2, Bedroom 1, Bedroom 3, Basement
    Parking features
    Offsite, Paved or Surfaced
    Appliances
    Oil Water Heater, Owned Water Heater
    Standard status
    Active
    Size
    3,978 SF
    Lot size
    5.66 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    7152

    Utilities

    Utilities
    Propane
    Heating system
    Baseboard, Oil
    Water source
    Public

    Building Details

    Year built
    1880
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Wood
    Building materials
    Wood Frame, Wood Siding
    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# 5030255 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

    • Over 4,000 SF restaurant building with seating for 72 plus outdoor seating, located on a 5.66‑acre parcel in Proctor
    • Includes two income‑producing apartments within the same building
    • Inventory and furnishings are included in the transfer
    • Metal roof; wood frame construction with wood siding; wood flooring
    • Oil heat with baseboard heating; propane utilities; owned oil water heater
    • Offsite parking on a paved or surfaced lot

    Overview

    This offering combines a fully functioning restaurant with two income-producing apartments. The property includes an over 4,000-square-foot restaurant building featuring wood floors, a pool table, an attractive bar, and a state-of-the-art kitchen. Seating supports 72 people, with additional outdoor seating, and the restaurant is presented as a turnkey operation. Inventory and furnishings are included in the transfer.

    The restaurant and multi-family building sit on a 5.66-acre parcel in Proctor, Vermont, zoned for commercial use. The property is listed as a standalone opportunity on the 5.66 acres, with information also provided that it may be purchased together with an adjacent 11.12-acre contiguous parcel described as the historic Sutherland Falls Quarry.

    For buyers seeking a live-and-work style commercial asset, this layout provides an on-site foodservice business alongside two separate apartment units. The included furnishings and inventory support immediate continuity of operations, while the apartment income component offers an additional revenue stream under the same roof and ownership. The commercial zoning supports use as a restaurant and multi-family property combination, subject to applicable requirements at the time of use.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    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.

    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 Uses

    Best Use
    Specialty Retail
    $575.4K
    $503.5K – $671.3K (±1% cap)
    NOI $40,277 @ 7.0% cap · market cap 8.07%
    Second Best
    Multifamily LT 5
    $538.5K
    $471.2K – $628.3K (±1% cap)
    NOI $37,697 @ 7.0% cap · market cap 7.55%
    Theoretical Best
    Healthcare Medical
    $692.6K
    $606.0K – $808.1K (±1% cap)
    NOI $48,483 @ 7.0% cap · market cap 9.72%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Franklins Restaurant

    Suggested Use

    Real Estate Agency Restaurant Building Supply Big Box & Wholesale Store Kitchen & Bath Showroom Daycare Center Electrical Service Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Proctor
    County
    Rutland
    State
    Vermont
    Longitude
    -73.0404259
    Latitude
    43.6627578

    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
    • $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 - Turnkey restaurant operation with two income-producing apartments on a commercial-zoned 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: Over 4,000 SF restaurant building with seating for 72 plus outdoor seating, located on a 5.66‑acre parcel in Proctor; Includes two income‑producing apartments within the same building; Inventory and furnishings are included in the transfer
    (802) 868-6367
    We can help!
    Listing Contact
    Zachary Zupan
    Request Owner's contact information
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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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