3757 Richville Road Manchester, VT
$1,100,000
Acres 9.40
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.
Listed by Derek Greene, Derek Greene
Details
MLS 4968327
Price $1,100,000
Status Active
DOM 470 days
Type Commercial
Lot Size 9.40 acres
Year Built 1986
Taxes Paid $14,367
Lot & Building Features
Utilities Cable, Underground Utilities, Multi Phone Lines, Gas - LP/Bottle, DSL
Construction Aluminum Siding, Stucco Exterior, Metal Clad Exterior, Metal, Masonry, Insulation-Foam/Clk Air Sl, Composition Exterior
Cooling Central AC
Heating Air to Air Heat Exchanger, Multi Zone, Hot Water, Hot Air, Gas Heater - Vented, Gas Heater, Baseboard
Parking Description Off-Site, Paved, Parking Spaces 21+
Sewer Public
Tax Year 2022
Taxes Paid $14,367
Water Public
Foundation Poured Concrete
Lot Description Field/Pasture, River Frontage, River, Mountain View
Roof Membrane
Map
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Financing
$
6.75%
$
$
$
per month
Principal & Interest
Monthly Taxes
Monthly HOA
Monthly Home Ins.
Monthly PMI
Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This calculator only provides an estimate.