Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    246 Main St Newport, VT 05855-5564

    • Retail properties & Spaces
    • 3,925 SF
    • 0.12 lot acres
    OFF-MARKET
    Last Sale
    Jul 11, 2022
    $265,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US89-0272071
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Bauer Gravel Farnham, LLP / Law Firm
    • Brooks Insurance / Insurance Agency
    • Majestic Trophy / (Bike/Boat/Book/etc) Store / Arcade & Gaming Center

    Property Details for 246 Main St

    Year built
    1870
    Construction
    FRAME
    Lot size
    0.12 lot acres
    Property size
    3,925 SF
    Zone code
    C
    Property type
    Retail properties & Spaces
    APN
    (136) 133255
    APU
    136133255

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Newport
    County
    Orleans
    State
    Vermont
    Longitude
    -72.211
    Latitude
    44.9355

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $5,184
    $66,100
    $107,700
    $173,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      12,050 SF

      4503 Us Route 5

      Shopping malls • 12,050 SF
      4503 Us Route 5, Derby, VT 05855
      View Details
    • Value Estimation by Request
      7,190 SF

      125 Main Street Ct

      Retail properties & Spaces • 7,190 SF
      125 Main Street Ct, Newport, VT 05855
      View Details
    • Value Estimation by Request
      86,782 SF

      Waterfront Plz

      Neighborhood centers • 86,782 SF
      0 Waterfront Plz, Newport, VT 05855
      View Details
    • Value Estimation by Request
      5,360 SF

      100 Main St

      DEPARTMENT STORE • 5,360 SF
      100 Main St, Newport, VT 05855-5580
      View Details
    • Value Estimation by Request
      1,600 SF

      60 Commons Dr

      Office properties & Spaces • 1,600 SF
      60 Commons Dr, Newport, VT 05855
      View Details
    • Value Estimation by Request
      8,740 SF

      150 Main St

      DEPARTMENT STORE • 8,740 SF
      150 Main St, Newport, VT 05855-5139
      View Details

    Similar Nearby for Sale

    • $900,000
      1.12 Acres

      Retail Opportunity on US-5

      Freestanding retail building on a busy commercial corridor.
      108 Community Dr, Adamant, VT 05855
      View Details
    • $425,000
      4,400 SF

      Versatile Commercial Building in Newport

      Adaptable 5,550 sqft commercial building on 1.27 acres.
      215 Glen Rd, Adamant, VT 05855
      View Details
    • $495,000
      Pending

      Coventry Convenience Store with Apartments

      High-traffic store with gas pumps and apartments near Jay Peak.
      1247 Vt Route 105, Coventry, VT 05855
      View Details
    • $349,900
      0.53 Acres

      Newport City Commercial Opportunity

      Versatile commercial property with retail, warehouse, and automotive potential.
      103 Coventry St, Adamant, VT 05855
      View Details
    • $629,000

      Commercial Property with Fuel Sales

      Thriving mini mart and carwash with fuel sales and rental income.
      398 Western Ave, Adamant, VT 05855
      View Details
    • $425,000

      Versatile Commercial Building in Newport

      Adaptable 5,550 sq.ft. building suitable for diverse commercial uses.
      215 Glen Rd, Newport, VT 05855
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      80,193 SF

      Shaw's Plaza: Retail Space Available

      Vermont Retail Center - 3 Spaces Available
      4340 Us-5, Newport, VT 05855
      View Details
    • $7 SF/Yr
      23,511 SF

      Newport Retail Space - 23,511 SF

      Prime Vermont retail space, ideal for large-scale tenant.
      148 Prouty Dr, Newport, VT 05855
      View Details
    • Contact for pricing
      7,190 SF

      Downtown Newport Retail Space

      Prime Main Street Retail Opportunity
      125 Main Street Ct, Newport, VT 05855
      View Details
    • $10 SF/Yr
      16,437 SF

      Retail Space in Newport Plaza

      Retail spaces available in high-traffic Newport Plaza near I-91.
      59 Waterfront Plz, Newport, VT 05855
      View Details
    • $9,800 /Mo

      Downtown Retail Space with Parking

      Large retail space in downtown Newport with onsite parking.
      266 Main St, Newport, VT 05855
      View Details
    • $9,800 /Mo

      Retail Space Available For Rent

      Retail space available for lease at $11 per square foot.
      266 Main St, Newport, VT 05855
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    246 Main St
    Newport, VT 05855-5564
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!