224 North Main StreetRutland City, VT 05701MLS Number 4966339

  • Price: $995,000
  • 186 Days on Market
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Federal 30-year interest rate: 6.77% last updated on Feb 15, 2024
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224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701224 North Main Street Rutland City VT 05701
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  • 4.21Acreage
  • 1947Year Built
  • 36,225Square Feet
  • 2024Tax Year

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Listed by Ray Ault of Ault Commercial Realty (Ray@AultCommercial.com)
This is a very well located Redevelopment Opportunity with possible restoration of existing Restaurant, Kitchen and part of Dairy Bar bldg covering a total of approximately 9,500 to 12,000 sq. ft. The balance of the 36,225 sq. ft. building likely needs to be razed with some salvage value of steel frame. In its Prime in the mid 1980's the complex consisted of 3 buildings joined together: A 9,534 sf Restaurant bldg, 21,111 sf Dairy Bldg including a 2,400 sf Dairy Bar, and a 5,580 sf Distribution Center with drive-thru truck wash/repair bay and 3-Bay Garage with three 12'x14' OHD's. Two other buildings on the site include a former 2-story residence (in serious disrepair) near the south property line, and a large Quonset Storage Building toward the rear north side of the property. Appraised by a VT-licensed General Appraiser for $975,000 in 2022, it is offered at that plus a modest 2% inflation adjustment for a net offering price of $995,000. Owners successfully appealed the City Tax Assessed value of approx. $1.25 million down to the current $770,800 assessed value. ABOUT 2/3rds OF BLDG IS IN SERIOUS DISREPAIR, WITH ROOF, CEILINGS AND SOME FLOORS COLLAPSING. OWNER MUST ACCOMPANY SHOWINGS OF FULL STRUCTURE beyond the restaurant space. DISCLOSURE: Soil contamination has been identified and registered with the State, and further testing needs to be done. Buyer's engineer will be asked to speak with the State engineer about the scope of contamination.

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Tax Information

  • Tax Year2024

Building

  • Year Built1947
  • ConstructionMasonry
  • Door Height12
  • Drive/Doors5
  • FoundationConcrete
  • Square Feet36,225
  • Available Sqft9,534
  • BasementConcrete, Partial, Storage Space, Sump Pump, Unfinished, Stairs - Basement
  • Garage Spaces

Utilities

  • FuelGas - LP/Bottle
  • Heating CoolingHot Air

Basic Information

  • StatusACT
  • Modification Date11/09/2023
  • TypeDevelopment, Hospitality, Investment, Land, Retail
  • List Price$995,000
  • Broker NameAult Commercial Realty, Inc.
  • Listing Agent NameRay Ault
  • Lister Office NameAult Commercial Realty, Inc.
  • MLS Number4966339
  • MLS StatusActive

Interior

  • Ceiling Heightvaries

Amenities

  • PricePerSqFt27.47

Other

  • Date Listed08/20/2023
  • View Count626

Location

  • Building Number224
  • StreetNorth Main Street
  • TownRutland City
  • StateVT
  • Zip05701
  • CountyRutland

Property

  • Acreage4.21
  • Parking Spaces
  • Property TypeCommercial Sale
  • Lot Sqft183,388
  • Road Frontage300

Exterior

  • ExteriorBlock, Brick
  • RoofFlat, Rolled
Broker Reciprocity 

Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated February 21, 2024 1:54 PM EST

 

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