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

September 17, 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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