Bought with Nikki Peters • StoneCrest Properties, LLC
$365,000
$385,000
5.2%For more information regarding the value of a property, please contact us for a free consultation.
42 Central ST Newport City, VT 05855
7,018 SqFt
Key Details
Sold Price $365,000
Property Type Commercial
Sub Type Investment,Multi-Family,Office,Opportunity,Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 7,018 sqft
Price per Sqft $52
MLS Listing ID 4698521
Sold Date 01/18/19
Year Built 1920
Annual Tax Amount $6,345
Tax Year 2017
Lot Size 5,662 Sqft
Acres 0.13
Property Description
The Express & Standard Building is a staple of downtown Newport. This 1920's building has been painstakingly restored and updated to meet modern day demands. From the exterior brickwork and columns to the interior stamped tin ceilings and lovely woodwork, which includes hardwood floors, custom built-ins, antique kitchen cabinets and wainscoting. The main floor consists of a lovely commercial space plus rear shop space. The second floor hosts two beautiful suites, each with their own heat and electric. SUITE 201 is 1-bedroom and SUITE 202 is 2-bedroom. SUITE 301 is on the 3rd floor and offers 4 bedrooms, front and rear decks as well as its own heat and electric. A substantial list of upgrades is available to potential buyers. Gross Rent per year is $58,980 and increases 2% per year. Annual expenses of $26,145 include taxes, insurance, heat/electric (owner pays some heat/electric), water/sewer, maintenance, trash and cleaning. This fully leased building would make a great investment for those that want to own a proud piece of Newport's history and future.
Location
State VT
County Vt-orleans
Area Vt-Orleans
Zoning commercial/residental
Rooms
Basement Entrance Interior
Basement Full, Unfinished
Interior
Heating Gas - LP/Bottle, Oil
Cooling None
Equipment Security System, Smoke Detector
Exterior
Exterior Feature Brick
Parking Features On-Site, On Street
Garage Description On-Site, On Street
Roof Type Flat,Membrane,Other
Building
Lot Description City Lot
Foundation Concrete
Sewer Public
Water Public
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