85-87 Main Street
Fair Haven, VT 05743
$848,000
Price
8
Beds
9
Baths
9,600 Sq. Ft.
$88 / Sq. Ft.
9,600
Sq. Ft.
$88
per Sq. Ft.
New
New
Description
Investors take note of this nicely maintained 4 story brick commercial building that has a first floor commercial rental that consists of approximately 1800 sq. feet and it has been used as a Cafe for years now its a retail business. The second through fourth floors have a total of 9 one bedroom apartments, having 3 on each floor and having access via stairs or elevator. The current rental income and expenses are producing an 10 plus cap rate. The building was modernized in the 1980's and has 2 Dedietrich...Investors take note of this nicely maintained 4 story brick commercial building that has a first floor commercial rental that consists of approximately 1800 sq. feet and it has been used as a Cafe for years now its a retail business. The second through fourth floors have a total of 9 one bedroom apartments, having 3 on each floor and having access via stairs or elevator. The current rental income and expenses are producing an 10 plus cap rate. The building was modernized in the 1980's and has 2 Dedietrich oil fired boilers, 2 meters, insulated double hung windows in residential units, 2 sixty gallon hot water makers off boilers, membrane roof, all residing on a 50x61 commercial lot that is directly across from the well known park and offers great street exposure. Prime time to purchase in downtown Fair Haven as there has been a lot of interest in various business's wanting to establish in town. A downtown revitalization committee has been formed to draw more people to downtown. The towns central park holds numerous yearly functions producing large gatherings to the town. Now is the time to invest in downtown Fair Haven. HAP contract in place, so hardly any vacancies available in the residential units. Gross income $124,800 NOI is over $79,481
- Listed by Mike Kalil • Watson Realty & Associates
Property Details for 85-87 Main Street
Zoning
commercial/residential
LISTING UPDATED: 12/21/2024 09:10 PM
Property Details for 85-87 Main Street
| Status | Active |
|---|---|
| MLS # | 5025060 |
| Days on Market | 1 |
| Taxes | $10,719 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi Family |
| Year Built | 1892 |
| Lot Size | 0.07 AC / 3,049 SF |
| County | Rutland County |
Building Information for 85-87 Main Street
Stories4Residences10Year Built1892Building Size-Lot Size0.07 AC / 3,049 SF
Property Information for 85-87 Main Street
Summary
Location and General Information
- City: Fair Haven
- County: VT-Rutland
- Latitude: 43.593226000000001
- Longitude: -73.265302542327902
- Road Frontage: Yes
- Seasonal: No
- State: VT
- Street Designation: Street
- Zip Code: 05743
Taxes and HOA Information
- SPAN Number: 216-070-10813
- Tax Year: 2024
- Taxes TBD: No
Parking
- Garage: No
- Driveway: None
Property
Lot Information
- Lot - Sqft: 3049.0
- Lot Features: City Lot, Corner
- Lot Size Acres: 0.07
- Road Frontage Length: 80.0
- Square Feet Apx Finished Above Grade: 9600.0
- Square Feet Apx Finished AG Source: Other
- Square Feet Apx Finished Below Grade: 0.0
- Square Feet Apx Total: 11200.0
- Square Feet Apx Total Finished: 9600.0
- Square Feet Apx Unfinished Above Grade: 0.0
- Square Feet Apx Unfinished Below Grade: 1600.0
- Square Feet Apx Unfinished BG Source: Owner
Property and Assessments
- Property Class: Multi-Family
- Construction Status: Existing
- Flood Zone: No
- Foundation: Poured Concrete
- PreConstruction: No
- Surveyed: Yes
- Year Built: 1892
Utilities
- Electric: Circuit Breaker(s)
- Sewer: Public
- Water Source: Public
- Utilities: Cable - Available, Phone
- Internet: DSL – Available
Interior and Exterior Features
Exterior Features
- Color: Red Brick
- Construction Materials: Masonry, Brick Exterior
- Roof: Membrane
Interior Features
- Basement: Yes
- Basement Access Type: Interior
- Basement Description: Concrete Floor, Full
- Total Full Baths: 9
- Heating: Oil, Baseboard
- Cooling: Multi Zone
- Total Stories: 4+
Multi Family
Income & Expenses Information
- Gross Income: $124,800.00
- Net Income: $79,481.00
- Operating Expense Incl: Heat, Insurance, Maintenance, Other, Trash, Utilities, Water/Sewer
- Operating Expense: $45,319
Multi-Family Information
- Total Units: 10
- Total 1 BR Units: 9
- Total 2 BR Units: 0
- Total 3+ BR Units: 0
Unit Information
Unit 1
- Unit 1 Baths: 1
- Unit 1 Bedrooms: 1
- Unit 1 Lease Term: Annual
- Unit 1 Level Number: 2
- Unit 1 Rental Amt Freq: Monthly
- Unit 1 Status: Leased
- Unit 1 Rental Amount: $1,000.00
Unit 2
- Unit 2 Lease Term: Annual
- Unit 2 Baths: 1
- Unit 2 Status: Leased
- Unit 2 Level Number: 2
- Unit 2 Rental Amt Freq: Monthly
- Unit 2 Bedrooms: 1
- Unit 2 Rental Amount: $1,000.00
Unit 3
- Unit 3 Lease Term: Annual
- Unit 3 Baths: 1
- Unit 3 Level Number: 2
- Unit 3 Rental Amt Freq: Monthly
- Unit 3 Status: Leased
- Unit 3 Bedrooms: 1
- Unit 3 Rental Amount: $1,000.00
Unit 4
- Unit 4 Lease Term: Annual
- Unit 4 Level Number: 3
- Unit 4 Rental Amt Freq: Monthly
- Unit 4 Baths: 1
- Unit 4 Bedrooms: 1
- Unit 4 Status: Leased
- Unit 4 Rental Amount: $1,000.00
Unit 5
- Unit 5 Rental Agreement: Yes
- Unit 5 Level Number: 3
- Unit 5 Rental Amt Freq: Monthly
- Unit 5 Status: Leased
- Unit 5 Baths: 1
- Unit 5 Bedrooms: 1
- Unit 5 Lease Term: Annual
- Unit 5 Rental Amount: $1,000.00
Unit 6
- Unit 6 Rental Agreement: Yes
- Unit 6 Lease Term: Annual
- Unit 6 Level Number: 4
- Unit 6 Baths: 1
- Unit 6 Bedrooms: 1
- Unit 6 Rental Amt Freq: Monthly
- Unit 6 Status: Leased
- Unit 6 Rental Amount: $1,000.00
Unit 7
- Unit 7 Bedrooms: 1
- Unit 7 Baths: 1
- Unit 7 Rental Agreement: Yes
- Unit 7 Lease Term: Annual
- Unit 7 Level Number: 4
- Unit 7 Rental Amt Freq: Monthly
- Unit 7 Status: Leased
- Unit 7 Rental Amount: $1,000.00
Unit 8
- Unit 8 Baths: 1
- Unit 8 Rental Amount: $1,000.00
- Unit 8 Rental Agreement: Yes
- Unit 8 Lease Term: Annual
- Unit 8 Level Number: 4
- Unit 8 Rental Amt Freq: Monthly
- Unit 8 Status: Leased
- Unit 8 Bedrooms: 1
Property History for 85-87 Main Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 85-87 Main Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 6 | |||
| Public - | 7 to 12 |
Rating | School | Distance |
|---|---|---|
Fair Haven Grade School PublicPK to 6 | ||
Fair Haven Uhsd #16 Public7 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Watson Realty & Associates
Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site 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 12/22/2024 07:43 AM
