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Listed by Derek Greene • Derek Greene
$ 1,100,000
Est. payment /mo
Active
3757 Richville RD Manchester, VT 05255
9.4 Acres Lot
UPDATED:
03/01/2024 03:45 PM
Key Details
Property Type Commercial
Sub Type Business,Industrial,Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4968327
Year Built 1986
Annual Tax Amount $14,367
Tax Year 2022
Lot Size 9.400 Acres
Acres 9.4
Property Description
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.
Location
State VT
County Vt-bennington
Area Vt-Bennington
Zoning Mixed
Interior
Heating Gas - LP/Bottle
Cooling Central AC
Inclusions Garage, Land/Building, Building
Equipment CO Detector, Security System, Smoke Detector, Air Conditioner
Exterior
Parking Features Off-Site, Parking Spaces 21+, Paved
Garage Description Off-Site, Parking Spaces 21+, Paved
Utilities Available Cable, DSL, Gas - LP/Bottle, Multi Phone Lines, Underground Utilities
Roof Type Membrane
Building
Foundation Poured Concrete
Sewer Public
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