For $799,000, a buyer can acquire a fortress of a building made from locally sourced marble. The former Vermont Marble Company building in Proctor, VT, is now up for sale.
Built in 1924 from white and gray marble, the 10-bedroom home might be more than what any one buyer wants. However, the unfinished interior offers plenty of intriguing potential.
Measuring roughly 30,000 square feet, the building sits on 2.5 acres just a few miles north of Rutland. For bargain hunters, the price breaks down to a mere $26.63 per square foot.
"It's an absolutely stunning building," says listing agent Christopher Long, of Better Homes and Gardens Real Estate. "The electric, plumbing, and heating need to be done if you wanted to convert it to residential. I think it will go residential because that's where the overwhelming need is right now."
By "residential," Long is also referring to converting the huge building into multiple units.
"If I were an investor, the big return would be transforming it to six to eight condo units with about 3,500 square feet of space each," he says. "If you did 30 apartments with 1,000 square feet each—that's a lot of kitchens and a lot of bathrooms. Those are the rooms where you spend a lot of money for a residential conversion."
Read more in SFGate.
