Ray Ault Ault Commercial Realty, Inc.
This listing was posted on Ray Ault Ault Commercial Realty, Inc. (via ListedBuy).
$995,000
224 N Main St, Rutland City, VT 05701 - MLS 4966339
Price:
$995,000
Location:
224 N Main St, Rutland, VT
Description:
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 backssed value of approx. $1.25 million down to the current $770,800 backssed 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. Still available at ListedBuy!
Property Type:
Commercial & Office Space for Sale
Sq feet:
36,225 sq. ft.
Amenities:
Parking, Storage
For sale by:
Agent/Broker
Agent Name:
Ray Ault Ault Commercial Realty, Inc.
Posted:
October 11 2023 on ListedBuy
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More About this Listing: 224 N Main St, Rutland City, VT 05701 - MLS 4966339
224 N Main St, Rutland City, VT 05701 - MLS 4966339 is a Commercial Real Estate for Sale at 224 N Main St in Rutland VT. Find other listings like 224 N Main St, Rutland City, VT 05701 - MLS 4966339 and listings near 224 N Main St by searching Oodle Classifieds for Commercial Real Estate for Sale in Rutland VT.
224 N Main St, Rutland City, VT 05701 - MLS 4966339 is a Commercial Real Estate for Sale at 224 N Main St in Rutland VT. Find other listings like 224 N Main St, Rutland City, VT 05701 - MLS 4966339 and listings near 224 N Main St by searching Oodle Classifieds for Commercial Real Estate for Sale in Rutland VT.