Bought with Shawn Cheney • EXP Realty
$350,000
$349,900
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14 Province ST Richford, VT 05476
9,976 SqFt
Key Details
Sold Price $350,000
Property Type Commercial
Sub Type Business,Hospitality,Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 9,976 sqft
Price per Sqft $35
MLS Listing ID 4702570
Sold Date 10/26/18
Year Built 1900
Annual Tax Amount $11,330
Tax Year 2017
Lot Size 0.740 Acres
Acres 0.74
Property Sub-Type Business,Hospitality,Multi-Family
Property Description
Opportunity knocks! Are you looking to step out big and own your own restaurant building and business with catering / banquet hall, 9 monthly residential rental units, and a 5 room motel. Well here you go! The sale includes a fully running restaurant & bar with seating for 140 that has the ability to expand with the catering and a 2 room 5400 sf banquet hall. The business has been owned by the same owners for decades who are willing to say on and train a new owner. The restaurant is fully staffed and operating and the existing staff wants to stay on. The banquet hall has a separate bar and can be split for smaller functions or for seating up to 299 and has everything you need to accommodate weddings and large functions on or offsite. The banquet hall has additional outdoor seating and all the tables and chairs, place setting, serving pans, and everything it takes to make it all happen. Upstairs they have 9 rental studio suits that rent for $600 a month and across the street there are 5 motel rooms for nightly and weekly rentals at $65 a night. This complete operation averages over $725,000 a year in gross revenue but has huge potential for more income through the banquet hall. A stronger online presence for the motel and catering could change the income as these owners have focused on the restaurant. Some studio suites connect and could be modified for an owner to live onsite. A cold storage 24x20 Quonset hut is included. OWNER FINANCING opportunities to a qualified buyer.
Location
State VT
County Vt-franklin
Area Vt-Franklin
Zoning Commercial
Rooms
Basement Entrance Interior
Basement Unfinished
Interior
Heating Gas - LP/Bottle, Oil
Cooling Central AC, Wall AC Units
Equipment Central Vacuum, Other, Sprinkler System
Exterior
Exterior Feature Vinyl
Parking Features Off Street, On Street, Paved, Visitor
Garage Description Off Street, On Street, Paved, Visitor
Building
Lot Description Neighbor Business
Foundation Slab - Concrete, Stone
Sewer Metered, Public
Water Metered, Public
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