 603-643-3942
|
|
|
Price Change! reduced by $300,000 on September 6th 2023 $850,000 | $27 per sq.ft. Commercial Property, 368 River Street Springfield VT | Space type Free Standing Building,Office Building,Retail Strip,Self Storage MLS# 4910367 |
|||
| DESCRIPTION
| |||
|
GREAT INVESTMENT PACKAGE--11.8% estimated projected annual Cap Rate-now 100% occupancy, with needed siding work and HVAC upgrades being done, 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 12 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. Projected annual NOI, with recently added tenant, estimated to be approx. $100K, using 2023 adjusted Operating Expenses, would give an 11.8 Cap Rate at current price. With room for additional basement storage units, it makes this investment prospect 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. Seller will consider only PREQUALIFIED OR APPROVED BUYERS, and buyers should be prepared to offer a satisfactory financial statement/proof of funds.
Location : Business District | Commercial Zoning | Near Country Club | Near Golf Course | Near Shopping | Near Skiing | Near Hospital Building Type : Investment | Office | Opportunity | Retail Disability Features : Accessibility Features | Hard Surface Flooring | No Stairs | No Stairs from Parking | One-Level Business | Paved Parking | Zero-Step Entry Ramp Misc : Heat Included Sale Includes : Land/Building Signage-| Adequate Price per SQFT | 27.29 Net Income| 86750 Gross Income| 183847 Management Expense-| $0 Insurance Expense -| $0 | |||
| FEATURES AND DETAILS
| |||
|
CONSTRUCTION: Wood Frame | Vertical Siding | Vinyl Siding | Wood Siding | Price Per SQ.FT. 27.29 | Year Built: 1986 No. of Units-| 11 Building Size | 31150 Available SQFT | 15211 Divisable SQFT | Yes Basement: Concrete | Concrete Floor | Full | Stairs - Exterior | Storage - Assigned | Storage - Locked | Storage Space | Unfinished | Walkout | Exterior Access | Stairs - Basement |
Building Type: Investment | Office | Opportunity | Retail Roof: Shingle - Asphalt Garage And Parking: Off Street | On-Site | Parking Spaces 21+ | Paved Road Frontage: 200 Heating: Forced Air | Hot Air | Multi Zone Cooling: Central AC | Multi Zone Electric: Circuit Breaker(s) Utilities: Cable | Cable - At Site No. of Docks | 0. No. of Drive Doors | 31150. AC % | 100. |
||
| LAND INFORMATION
|
|
ADDITIONAL INFORMATION
|
|
|
Lot size: 1.12 acres Zoned: "General Business" Surveyed: Yes SurveyedBy: William E. Drud Flood Zone: No Road Frontage: 200 |
Transport Info: Near Airport | State Highway | Paved Docs Available : Deed | Property Disclosure | Survey | Tax Map | Town Approvals Taxes $18,602 | Assesed Value $497,900 in 2022 | ||
-
-
-
-
-
-
-
-
-
-
-
Good Signage
-
-
From Highway
-
Great Parking
-
-
Shot of Rear
-
Basement and Storage Units Access Door
-
-
-
-
Handicap access ramp
-
-
-
Main Hall Entrance
-
Typical Interior Finish
-
Typical Interior Finish
-
Typical Interior Finish
-
Typical Interior Finish
-
Typical Interior Finish
-
Typical Interior Finish
-
Typical Interior Finish
-
Typical Interior Finish
-
Typical Interior Finish
-
Basement Storage Units
-
-
|
15 Buck Rd. Hanover, NH 03755 603-643-3942 Big Green Real Estate is not affiliated with nor officially sanctioned by Dartmouth College |
|
 |
Copyright © 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed.
The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. 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 May 4th, 2024 |
|
PLEASE NOTE: Both New Hampshire and Vermont law require brokers and agents to disclose at the “time of first business meeting, prior to any discussion of confidential information”, in New Hampshire’s case, and “first reasonable opportunity”, in Vermont’s case, the nature of the relationships brokers have or may have with customers and clients. Each state requires that a disclosure form be presented to consumers for their review and acknowledgment at the appropriate time. These forms can be accessed at the following websites and you are encouraged to read these documents. Big Green Real Estate chooses as a business model to represent both buyers and sellers; please do not assume, without any contractual agreement otherwise, that Big Green Real Estate at this time represents your interests as an agent. VT: VERMONT REAL ESTATE COMMISSION MANDATORY CONSUMER DISCLOSURE FORM https://www.sec.state.vt.us/media/711742/Mandatory-Consumer-Disclosure-for-a-Non-Designated-Agency-Brokerage-Firm-9-24-2015.pd NH: NEW HAMPSHIRE REAL ESTATE COMMISSION BROKERAGE RELATIONSHIP DISCLOSURE FORM http://www.nh.gov/nhrec/Brokerage%20Relationship%20Disclosure%20Form%207-19-11.pdf |