Properties Near 125 Main Street Newport City, VT

For sale in Newport, VT – a versatile standalone commercial building offering approximately 5,550 sq.ft. of space on 1.27 acres. The first floor spans about 4,400 sq.ft. and includes four large classrooms, eight offices, a kitchen area, and four handicap-accessible bathrooms. The building is fully wheelchair accessible and features 36" fire-rated doors throughout for safety and code compliance. The second floor offers an additional 1,150 sq.ft. that could be used as office space or converted to an apartment, though it will need some cosmetic updates. Recent upgrades include new siding, a new shingled roof, updated flooring on the main level, fresh interior paint, and many new windows. Formerly used as a school and previously as a grocery store, this flexible space is ideal for a wide range of uses such as daycare, professional offices, senior housing, light manufacturing, religious or recreational use—located in Newport City’s Urban Residential (UR) zoning district. Features include ample parking, public water and sewer, and existing fire and security alarm systems. Conveniently situated within walking distance to downtown, this property offers outstanding potential for both investors and owner-users.

3-Unit commercial investment property in a prime location on Main St in beautiful downtown Newport, VT. Units #1 and #2 have strong long-term tenants placed and Unit #3 is available - can be leased out for income or a buyer can operate their business here. Currently a 6.3% Cap Rate factoring in 48% vacancy (lower level) with a pro-forma Cap Rate of 10.94% (numbers are projected only). With all the foot-traffic downtown, this building is ideal for most any type of retail store, restaurant, gift shop, clothing boutique, office, bakery, cafe, etc. Offering great potential as an income producing property when all three units are leased. The street level features Unit #1 that is leased long term to a restaurant with 1500+ SF & a hood system and Unit #2 that is leased long term to a vape/gift shop with 1600 SF and a private bathroom. Unit #3 offers 3500 SF that used to be a fully equipped restaurant/bar space with a professional kitchen and is currently finished with 13 individually leased storage rooms/office (hood system is still installed). Unit #3 is located on the walkout lower level with access from the parking lot in the rear of the building. This is a well maintained property with a new roof installed in July 2019. Downtown offers ample on street parking, several municipal parking lots and this property offers direct access to the city owned parking lot in the rear of this building. Additional information and net operating income available to qualified buyers.