Vermont and New Hampshire Real Estate

New Search

25-29 Center Rutland City, VT 05701

$259,500

MLS# 4212175

Ray Ault

Listed by Ault Commercial Realty, Inc.

About this property

DOWNTOWN RETAIL/OFFICE INCOME PROPERTY: A Period Brick Commercial Block, with 4,000 sf retail on 1st floor, and 5,000 sf of offices on 2nd floor. 3rd floor is an expansion opportunity awaiting a stronger economy and increased demand for office space and/or new loft apartments. It was apartments / offices at one time, but needs total renovation. New oil fired furnace was installed Feb 2016. The elevator is down for repairs, and is small by today's standards. Bldg has 3 rear exits on 3 levels, 2 of those into enclosed stairwell to public elevator & Transit Center (bus station and paid parking) which also uses a covered walkway through the east end of subject bldg at street level allowing the Parking Garage / Transit Center access to Center Street directly opposite the Paramount Theater. Although kept clean and serviceable, the building could use an upgrade renovation to correct some functional obsolescence and increase rents. However asking price reflects no value for 3rd floor.

 

Photo A
Photo B