Restaurant and Multifamily
25 & 31 North Street, Proctor, VT 05765
MULTI_FAMILY - Other - Proctor, VT
Property size:
3,978 SFLot size:
16.78 AcresPrice / SF:
$150/SF- Added:
- Feb 25, 2025
- Days on Market:
- 464
- Last Refresh:
- Jun 4 at 2:06 am
Property Features for 25 & 31 North Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Commercial
- Bedrooms
- 3
- Rooms
- Basement, Bedroom 1, Bedroom 2, Bedroom 3
- Parking features
- Offsite, Paved or Surfaced
- Appliances
- Oil Water Heater, Owned Water Heater
- Standard status
- Active
- Size
- 3,978 SF
- Lot size
- 16.78 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 7481
Utilities
- Utilities
- Propane
- Heating system
- Baseboard, Oil
- Water source
- Public
- Water front
- 1
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
Listing agent Zachary Zupan (802) 868-6367
Listing office EXP Realty 50 Lakeside Ave., Swanton, VT (833) 388-2480
Listing date Feb 25, 2025
MLS# 5030272
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
- Almost 4,000 SF Franklin’s Restaurant building plus two income‑producing apartments.
- 16.78 acres in two separate parcels: 5.66 acres with the restaurant/multi‑family business and 11.12 acres including the historic Sutherland Falls Quarry.
- Restaurant seats 72 people plus outdoor seating.
- Inventory and all furnishings are included in the transfer.
- Wood‑frame construction with wood siding and a metal roof; wood flooring.
- Heating includes oil baseboard; propane utilities and public water.
Overview
A turnkey restaurant and multi-family building at 25 & 31 North Street, Proctor, VT, offering an approximately 4,000-square-foot structure that includes restaurant space plus two income-producing apartments. The restaurant is described as being complete and functioning, 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. Seating is listed at 72 people, with additional outdoor seating.
The property totals 16.78 acres and is described as two separate parcels. The 5.66-acre parcel hosts the restaurant/multi-family business. The remaining 11.12 acres include the historic Sutherland Falls Quarry.
This configuration can fit an operator seeking to run a full-service restaurant while also benefiting from on-site residential income through the two apartments. The availability of the full acreage, along with the separate parcels, may also be useful for buyers interested in planning around the quarry parcel in conjunction with the restaurant site. The listing is offered for sale in a commercial zoning designation.
The property totals 16.78 acres and is described as two separate parcels. The 5.66-acre parcel hosts the restaurant/multi-family business. The remaining 11.12 acres include the historic Sutherland Falls Quarry.
This configuration can fit an operator seeking to run a full-service restaurant while also benefiting from on-site residential income through the two apartments. The availability of the full acreage, along with the separate parcels, may also be useful for buyers interested in planning around the quarry parcel in conjunction with the restaurant site. The listing is offered for sale in a commercial zoning designation.
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
NOI $40,277 @ 7.0% cap · market cap 6.72%
Second Best
Multifamily LT 5
$538.5K
$471.2K – $628.3K
NOI $37,697 @ 7.0% cap · market cap 6.29%
Theoretical Best
Healthcare Medical
$692.6K
$606.0K – $808.1K
NOI $48,483 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Conventional restaurants
Map
- City
- Proctor
- County
- Rutland
- State
- Vermont
- Longitude
- -73.0404291
- Latitude
- 43.6627776
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Turnkey restaurant with seating for 72 and two income-producing apartments on a 16.78-acre property.
Where is this conventional restaurant located?
The property is located at 25 & 31 North Street Proctor, VT.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Almost 4,000 SF Franklin’s Restaurant building plus two income‑producing apartments.; 16.78 acres in two separate parcels: 5.66 acres with the restaurant/multi‑family business and 11.12 acres including the historic Sutherland Falls Quarry.; Restaurant seats 72 people plus outdoor seating.
