Listed by Derek Greene with Derek Greene 860-560-1006
Active
3757 Richville Road
Manchester VT, 05255
$1,100,000
$87.47 per sqft
Active
4 Baths
12,576 sqft
Commercial
Built in 1986
The buyer of this property would net a CAP RATE OF 5.125% This building was originally constructed by the Central Vermont public service corporation, (CVPS): in 1986. It is constructed to the highest industrial standards. The present owners bought it 1998 it's served as their offices and A manufacturing facility for print and publishing business. Simultaneously half of the building was leased to a high-quality very successful fresh fish retailer and wholesaler. When the present owners close their printing business it was immediately occupied by long-term tenants. The building has experienced a 98% occupancy rate for 23 years. The CAP rate at the selling price is 5.125%. There are strong long-term leases in place that will continue with the new owners. The fresh fish wholesaler has a new 10 year lease and there is a daycare center in the front of the building that has a four year lease. There are two other "tenant at will" occupants that have been there over 10 years. Utilities are separate for the fresh fish wholesaler and the rest of the building heating system has been upgraded to 98% efficient propane systems. This is an excellent investment opportunity to own a turnkey rental property.
4968327
MLSⓇ ID
September 1, 2023
Listed
October 29, 2024
Updated
Map
3757 Richville Road
Manchester VT, 05255
Interior Features
Total Bathrooms
4
Fireplace
No
Cooling
Yes
Cooling Description
Central AC
Heating
Yes
Heating Description
Air to Air Heat Exchanger, Baseboard, Gas Heater, Gas Heater - Vented, Hot Air, Hot Water, Multi Zone, Gas - LP/Bottle
Exterior/Building Features
Lot Size
9.4 Acres
Lot Features
Business District, Commercial Zoning, In Town, Industrial Park, Near Shopping, Near Skiing, Near Public Transportatn, Near Railroad
Roof
Membrane
Sewer
Public
Other Property Details
Area Name
VT-Bennington
Taxes
$14,367
Tax Frequency
Annually
Days on Market
183
Garage
No
Parking
Off-Site, Parking Spaces 21, Paved
View
No
Pool
No
Listed by Derek Greene with Derek Greene 860-560-1006
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