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Property profile & analytics
OFF-MARKET
Office Spaces
115 2nd St Newport, VT 05855-4468
Entity Owned
6-yr Hold
Free & Clear
Property ID
US89-0174619
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1900
Construction
FRAME
Total area
3,672 SF
Lot
0.46 ac (20,038 SF)
Zoning code
UR
APN
(136) 133106
UPID
US89-0174619
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Green Mountain Farm-to-School Charitable Organization Social Service Agency
-
Vermont Harvest of the Month Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
38 Lake Street LLC · 6 yrs held
38 Lake Street LLC
since 2019
3 recorded transactions
Zoning & alternative use
UR · Newport, VT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district is designated for land located where municipal water and sewer facilities are available. For this reason, a higher density of development is appropriate. The purpose of this district is to permit a continuation and expansion of residential, commercial, light manufacturing, and related uses when consistent with the objectives of the comprehensiv…
Zone name
Urban Residential
General category
INDUSTRIAL
Zone area
632.76 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Newport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Newport submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$7,299
Tax year 2022
Assessed value
$244,700
Assessed 2023
Previous assessed
$244,700
+0.0% YoY
Effective rate
2.98%
On assessed value
Assessed land
$58,800
Assessed improvement
$185,900
Applied tax rate
136.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1900
Construction
FRAME
Heating
FORCED AIR
Buildings
1
Stories
2
Units
1
Rooms
12
Bathrooms
4
Total area
3,672 SF
Lot
0.46 ac (20,038 SF)
Zoning code
UR
APN
(136) 133106
UPID
US89-0174619
Jurisdiction
NEWPORT CITY
Zoning & alternative use
UR · Newport, VTZoning UR · permitted uses
UR · Newport, VT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district is designated for land located where municipal water and sewer facilities are available. For this reason, a higher density of development is appropriate. The purpose of this district is to permit a continuation and expansion of residential, commercial, light manufacturing, and related uses when consistent with the objectives of the comprehensive plan.
Zone name
Urban Residential
General category
INDUSTRIAL
Zone area
632.76 ac
Source
Realmo
Building & site characteristics
From public records
Year built
1900
Construction
FRAME
Heating
FORCED AIR
Stories
2
Buildings
1
Units
1
Rooms
12
Bathrooms
4
Lot
0.46 ac
Current owner
From public records · entity-resolved
38 Lake Street LLC
Entity
Free & Clear · 6 yrs held
Mailing address
29 PROSPECT ST, NEWPORT, VT 05855-2032
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2019
—
38 Lake Street LLC
Owner Name Unavailable
Grant Deed
related
—
Jul 24, 2015
$99,000
Nathaniel M Sims
Lantagne Family Trust
Grant Deed
—
Sep 21, 2012
$1
Ft Lantagne
Lantagne,clarence
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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