561 East Main St Newport, VT 05855

This 5,613 SF flex commercial building is available for sale on US-5/East Main St in Newport. The property includes 3,071 SF of office/retail space and 2,542 SF of finished garage/shop space. The garage area measures approximately 40' x 60' and features 12' ceilings, a bathroom, insulation, and heating via two Modine oil/hot water units. It also has a 10' x 10' dock door and a 9'4" x 10' drive-in door. The office/retail space has 8'6" ceilings, multiple exterior access doors, below grade access, two bathrooms, and a sink/kitchenette area. Below grade, there is an additional 1,110 SF of functional storage space with good ceiling height and easily accessible mechanicals, including a 275-gallon oil tank, multi-zone hot water boiler, and sump pump. The property is connected to public water and sewer and has heavy power with 3-Phase 208V 400AMP service and five electric meters for optional multi-tenancy, as well as fiber optic availability. The overhead doors have been recently upgraded. The property is currently generating $918 per month from a small 216 SF long-term leased space with a separate entrance. The current lease term goes through 5/31/29, with optional renewal terms for up to 10 more years. The property is primely located with great visibility and high traffic counts on East Main Street/US-5, capturing Derby Rd traffic as they come into Newport City. The building has known deferred maintenance items, including a portion of the roof with rusting metal panels, some slope/drainage issues on the east/NE side, and interior lighting. The buyer may want to revamp the interior depending on use.