Listing courtesy of Derek Greene, Derek Greene Phone: 860-560-1006
3757 Richville Road, Manchester, VT, 05255
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.
Status:
Active
Type:
Commercial
Units:
4
Zoning:
Mixed
Frontage:
175
Heating:
Air to Air Heat Exchanger, Baseboard, Gas Heater, Gas Heater - Vented, Hot Air, Hot Water, Multi Zone, Propane
Cooling:
Central AC
Parking:
Off-Site, Parking Spaces 21+, Paved
Acreage:
9.4
Est. Taxes:
$14,367
Construction
Insulation-Foam/ClkAirSl,Masonry,Metal,Aluminum Siding,Composition Exterior,Metal Clad Exterior,Stucco Exterior
Elevator:
N
MLS #:
4968327