This stately, historical, brick building marks the northern entrance to Main Street of the border town Richford, Vermont. A great investor opportunity, as the main ground floor hosts multiple move-in-ready store fronts with individual entrances and bathrooms. The ground floor also has a large back area (river side) that could easily be converted into a studio or one bedroom apartment. The lower level has its own grand entrance, as you step down from the street into a unique hideaway venue. This space is currently being cleaned out and in years past has lived as a bar, entertainment space, and community center. Some simple updates could easily restore this site into something magical; a speakeasy, theatre, venue, bar, restaurant space, etc. This lower level has great acoustics and still has its corner stage, built in seating (needs updating), dance floor (needs updating), center bar, and kitchen/prep/storage space. The upper two stories (above the ground floor) will need complete refurbishing, but with their stunning views and expansive floor plans, there are worlds of potential. With town approval, these upper levels could be turned into multi-unit condos. There is a previous condo plan that was created and happy to share with potential buyer. Jay Peak Resort is a short drive up the mountain for 4-season vacation fun. Burlington is a little over one hour to the south. Richford borders Quebec Canada and is only an hour and a half for the beautiful city of Montreal.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $143,920 | $143,920 | $143,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.945% | 7.159% | 6.286% |
Monthly Tax Payment | $207 | $207 | $207 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $982 | $957 | $1,214 |
Total Monthly Payment | $1,264 | $1,239 | $1,496 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.