Profitable Pizza Restaurant with
For Sale
$850,000
33 Main St, Fair Haven, VT 05743
Established pizza restaurant with three apartments for sale.
Property Size5,100 SF
Lot Size0.13 Acres
Days on Market163
Property Features for 33 Main St
General Information
Standard status
Active
Size
5,100 SF
Lot size
0.13 Acres
Property subtype
Commercial
Building Details
Building Size
5,100 SF
Year Built
1894
Units
4
Listing Agency:
NEW ENGLAND LAKESIDE REALTY INC
(802) 770-9435
Listed By:
Hurley R Cavacas
(802) 770-9435
Source:
Elliman
Added: Mar 11
Changed: Aug 8
Last Checked: Aug 20 at 9:43AM
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 NEW ENGLAND LAKESIDE REALTY INC
Investment Insights
Based on property information with market context.
The Fair Haven House of Pizza and the building it resides in are for sale after 42 years of family ownership. The sale includes a thriving pizza restaurant and three furnished apartments above the shop, which are currently rented. One apartment is rented to traveling nurses. The restaurant sale includes the established name: Fair Haven House of Pizza, all equipment, inventory, and recipes to continue operating. The owners are willing to train and work alongside the new owners. The building has been updated, including electrical and a new furnace, and all regular maintenance has been completed.
Key Highlights
- Thriving, established pizza business (Fair Haven House of Pizza) with loyal customer base, equipment, inventory, and recipes included.
- Three furnished and currently rented apartments above the pizza shop provide immediate rental income.
- Opportunity for owner training and support from the current owners to ensure a smooth transition.
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
$51,638
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
6.08%
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%
$1,032,760
$1.0M
Cap Rate 7%
$737,686
$737.7K
Cap Rate 9%
$573,756
$573.8K
Market Conditions
NOI Build-Up for 5,100 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
$76.5K $15.00/SF
− Vacancy
−$7.7K −$1.50/SF
EGI
$68.9K $13.50/SF
− OpEx
−$17.2K −$3.38/SF
NOI
$51.6K $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%
$1,032,760
Cap Rate 7%
$737,686
Cap Rate 9%
$573,756
Alternative Uses
Best Use
Specialty Retail
$737.7K
$645.5K – $860.6K
NOI $51,638 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$636.2K
$556.7K – $742.2K
NOI $44,532 @ 7.0% cap · market cap 5.24%
Theoretical Best
Healthcare Medical
$888.0K
$777.0K – $1.04M
NOI $62,158 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
139
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 05743, VT
4,210
Population
2,107
Households
2
Avg Household Size
45
Median Age
25%
College-Educated
93%
High-School Grad
98.7 sq mi
ZIP Area
43
Density / Sq Mi
$67,763
Median Household Income
$36,366
Median Earnings
$968
Median Rent
$176,400
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 - Established pizza restaurant with three apartments for sale.
Where is this conventional restaurant located?
The property is located at 33 Main St Fair Haven, VT.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Thriving, established pizza business (Fair Haven House of Pizza) with loyal customer base, equipment, inventory, and recipes included.; Three furnished and currently rented apartments above the pizza shop provide immediate rental income.; Opportunity for owner training and support from the current owners to ensure a smooth transition.
