Ignite FB Tracking Pixel368 River Street, Springfield, VT 05156 - Judy and Bob Holder
KW Coastal And Lakes & Mountains Realty
KW Coastal And Lakes & Mountains Realty
Judy and Bob Holder, KW Coastal And Lakes & Mountains RealtyPhone: (603) 801-4193
Email: [email protected]
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listing
1 of 36
Listed by: William Johnson from Big Green Real Estate, 603-643-3942
CommercialFor Sale
$850,000
368 River Street
Springfield, VT 05156
MLS: Prime MLS
Est. Mortgage
$4,488/mo

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.

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Information courtesy of Big Green Real Estate is subject to verification and is not guaranteed.
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