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Cummings & Co.

Forging Relationships Throughout Vermont

368 River StreetSpringfield, VT 05156Price: $995,000

  • Price: $995,000
  • 268 Days on Market
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Federal 30-year interest rate: 6.09% last updated on Feb 2, 2023
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $995,000List Price
  • 1.12Acreage
  • 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. NOI stated, $92,673, is based on annualized current monthly income, $14,499.36 ($173,992/yr.), and, 2022 Operating Expenses, by broker's accounting, calculated to be $81,318.88. With one suite still partially vacant, and 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. The sellers' family has personal property stored in the basement which will take time after a closing to remove, with some accommodation in P&S needed. Seller will consider only PREQUALIFIED OR APPROVED BUYERS, and buyers should be prepared to offer a satisfactory financial statement/proof of funds.

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Copyright 2023 New England Real Estate Network, Inc. All rights reserved. This display of listings may or may not be the entire Compilation from the NEREN database, and NEREN does not guarantee the accuracy of such information. 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 February 8, 2023 3:55 PM EST.

 

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