List Price: $349,000 | $265 per sq.ft. Commercial
Space type
Price Change! Reduced by $46,000 down 13% on October 23rd 2025
Date Listed Wednesday May 14, 2025 | MLS# 5040674
Space type
Price Change! Reduced by $46,000 down 13% on October 23rd 2025
Date Listed Wednesday May 14, 2025 | MLS# 5040674
To see this Listing
Address: 371 River Street Montpelier VT
Listed by Martha Lange BHHS Vermont Realty Group/Montpelier
Description:
Tax bill dropped almost $3k this tax year! Unique property with many possibilities. It has an amazing 300 ft of road frontage and exposure. Live in the home and have the storage units pay your expenses. Or rent the house to tenants or a business to add to the income from the storage units. This property just went through a change of use permit (attached) from Commercial to Residential zoning. The very well maintained 1934 three-bedroom, one bathroom cape home has been getting $2,400./month with all utilities included. The home has been an office building for several businesses in the past. The home has hardwood floors, a main floor bedroom, living room, mud room, den, dining room, closet with stackable laundry unit, kitchen with back door access and an updated bathroom. The house does not have direct entry to the basement that is accessed by a private locked door in the lower parking area of the circular paved driveway. There are 4 inside locked storage units in the basement that bring in $240/month total. Next to the house, there are 11 storage units in a single building and they are of varying sizes. That building currently generates $755/month. The house is currently $750/week for two renters. All units are likely to be charging under market rates, but there are many long term renters.
Sale Includes : Additional Buildings | Land/Building | Outbuilding
Listed by Martha Lange BHHS Vermont Realty Group/Montpelier
Description:
Tax bill dropped almost $3k this tax year! Unique property with many possibilities. It has an amazing 300 ft of road frontage and exposure. Live in the home and have the storage units pay your expenses. Or rent the house to tenants or a business to add to the income from the storage units. This property just went through a change of use permit (attached) from Commercial to Residential zoning. The very well maintained 1934 three-bedroom, one bathroom cape home has been getting $2,400./month with all utilities included. The home has been an office building for several businesses in the past. The home has hardwood floors, a main floor bedroom, living room, mud room, den, dining room, closet with stackable laundry unit, kitchen with back door access and an updated bathroom. The house does not have direct entry to the basement that is accessed by a private locked door in the lower parking area of the circular paved driveway. There are 4 inside locked storage units in the basement that bring in $240/month total. Next to the house, there are 11 storage units in a single building and they are of varying sizes. That building currently generates $755/month. The house is currently $750/week for two renters. All units are likely to be charging under market rates, but there are many long term renters.
Sale Includes : Additional Buildings | Land/Building | Outbuilding
Features
Signage: Adequate
Signage: Adequate
Income
Net Income| 0
Management Expense: $0
Insurance Expense : $0
Net Income| 0
Management Expense: $0
Insurance Expense : $0
Construction Information:
Year Built: 1934
Price Per SQ.FT. 265.20 No. of Units: 0
Building Size : 1316
Year Built: 1934
Price Per SQ.FT. 265.20 No. of Units: 0
Building Size : 1316
ExteriorRoof: Metal
InteriorBasement: Concrete | Concrete Floor | Full | Other | Assigned Storage | Locked Storage | Walkout | Exterior Access
Land Information
Lot size: 1.12 acres
Zoned: Residential, Eastern Gtwy
Flood Zone: No
Road Frontage: 300
Road Frontage: 300
No. of Docks | 0.
UtilitiesHeating: Hot Air
Electric: Circuit Breaker(s)
Utilities: Cable at Site
AC % | 0.
Additional Information
Taxes $9,448
Assesed Value Not Reported
Taxes $9,448
Assesed Value Not Reported
Schools
