Rivertown Railway building
aka Eagle Railway Building

The Rivertown Railway building is a focal point for the older downtown district. Its durable masonry construction and slate roof has kept it in good condition, with little regular maintenance necessary on its exterior.
The building is no longer being used as a railway station (three or four freight trains come through Rivertown each day; no passenger trains). The larger spaces in the building are being used (underutilized?) as an antiques store. Other areas are vacant.

Market value of this property as is: $230,000
Size of lower floor: 44 ft. x 46 ft. plus towers
Size of upper floor: 40 ft. x 37 ft. plus towers
Current income of the ground floor ($14/sq.ft./year)
Current income of the upper floors (no lease)

If the building had a full rehab:
Potential income of the ground floor retail ($22/sq.ft./year)
Potential income of the upper floor office ($18/sq.ft./year)
(Note: If a restaurant use, a commercial kitchen takes up half of the total space, with seating in the other half. The seating area construction costs are the same as for other uses; kitchen space construction cost: $220/sq.ft. Income for entire restaurant space: $27 to 30/sq.ft./yr., based on quality of construction.)