368 River StreetSpringfield, VT 05156MLS Number 4910367

  • Price: $1,150,000
  • 86 Days on Market
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Federal 30-year interest rate: 4.99% last updated on Aug 4, 2022
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  • 1.12Acreage
  • 1986Year Built
  • 19,500Square Feet

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Listed by William Johnson of Big Green Real Estate
Great investment package--almost full occupancy, good condition, low maintenance (roof replaced 2018-19), town water and sewer, great parking, with potential for additional income. This 1-story building currently offers 11 office/retail units, plus 38 storage units at the basement level. Basement has a drive-in, garage door access, with room to add additional storage units. Building has a truss roof frame, which would allow floorplan alterations if needed. Gross income stated, $149,389, was for 2021, when 2 units were vacant. Premises are now almost fully leased, with monthly income of $14,459.36. Broker's calculation, using actual 2021 figures, shows a 7% Cap Rate based on the list price--buyer advised to do their own calculations. With additional income for 2022, and room for additional basement storage units, it makes this investment even more attractive. Leases are a mix of partial net and gross rents. Tenants are a mix of primarily professional offices. There are 10 propane-fired HVAC units and 9 total electric services, but not all zoned specifically for individual units, as the floorplan has changed over time. There is a private, management office, as well, in the basement. Owner to remove all personal property from basement.

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More Info

Basic Information

  • StatusACT
  • Modification Date06/28/2022
  • TypeInvestment, Office, Opportunity, Retail
  • List Price$1,150,000
  • Broker NameBig Green Real Estate
  • Listing Agent NameWilliam Johnson
  • Lister Office NameBig Green Real Estate
  • MLS Number4910367
  • MLS StatusActive

Exterior

  • ExteriorVertical, Vinyl Siding, Wood Siding
  • RoofShingle - Asphalt

Amenities

  • Accessibility AmenitiesAccessibility Features, Hard Surface Flooring, No Stairs, No Stairs from Parking, One-Level Business, Paved Parking, Zero-Step Entry Ramp

Location

  • Building Number368
  • StreetRiver Street
  • TownSpringfield
  • StateVT
  • Zip05156
  • CountyWindsor
  • Map5

Property

  • Acreage1.12
  • Parking Spaces
  • Property TypeCommercial Sale
  • Area
    • Business District
    • Commercial Zoning
    • Near Country Club
    • Near Golf Course
    • Near Hospital
    • Near Shopping
    • Near Skiing
  • Lot Sqft48,787
  • Road Frontage200
  • Traffic Count5646

Other

  • AC percent100
  • Transport AccessNear Airport, Paved, State Highway

Building

  • Year Built1986
  • ConstructionWood Frame
  • NumberOfUnitsInCommunity11
  • Drive/Doors1
  • FoundationPoured Concrete
  • Square Feet19,500
  • Available Sqft19,500
  • BasementConcrete, Concrete Floor, Exterior Access, Full, Stairs - Basement, Stairs - Exterior, Storage - Assigned, Storage - Locked, Storage Space, Unfinished, Walkout
  • Garage Spaces

Utilities

  • FuelGas - LP/Bottle
  • Heating CoolingForced Air, Hot Air, Multi Zone

Your Local Office

John Wetmore

John Wetmore

5 Central Street,
Woodstock, VT 05091

Springfield, VT Demographics

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Copyright 2022 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NEREN. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated August 11, 2022 10:56 AM EDT.

 

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