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Courtesy of Leigh Horton of Your Journey Real Estate.

38 South Main Street

St. Albans City, VT 05478
  • $1,200,000
  • STATUS: Active
  • ON SITE: 16 Days
  • MLS #: 4894996
UPDATED: 46 min ago
$1,200,000
  • 0
    BEDS
  • 0.37
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 12,153
    SQFT
  • $99
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1900
County:

School Ratings & Info

Description

Investment opportunity in the heart of St. Albans City to own a freestanding multi-tenant mixed use property directly on Main St., with 8 units (2 commercial and 6 residential). Commercial Unit 1 is currently owner occupied by Kevin Smith Team Sports and Corporate Apparel. This unit encompasses three floors (finished basement w/large office, work/packing/shipping area + storage, 1st Floor w/6 offices, open floor/meeting space + storage, and 2nd Floor with 3 offices). The finished basement was historically utilized as a bar. Based on its egress, finished space, heat + cooling service, and bathroom service, this could be separately rented space down the road. The rented Commercial Unit 2 offers a Main St. first floor store front as well. The 6 apartments are 100% tenant-occupied on a month to month basis with 2 units on the 2nd floor and 4 on the 3rd. There's plenty of parking with on-site spaces for 13 vehicles and the property also benefits from street-side parking and nearby municipal parking lots. Well maintained/updated building and the Income Capitalization Approach offers a strong CAP rate with both the current and market rent rates. Truly a wonderful OPPORTUNITY (investment buyer, 1031 exchange, business owner), BUILDING (free standing, two store fronts, 6 rental units, mix-use possibilities - flex industrial, shared office, micro-apartments, etc.), and LOCATION (downtown St. Albans, parking, nearby restaurants, shops and parks, close to I-89 and Lake Champlain).

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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 displayed on this 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 2022-01-28T20:05:31.71.
www.thehickeyrealestategroup.com/homes/124646261
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38 South Main Street St. Albans City, VT 05478

  • Price: $1,200,000
  • Status: Active
  • On Site: 16 Days
  • Updated: 46 min ago
  • MLS #: 4894996
0
Beds
0
Baths
0
½ Baths
0.37
Acres
12,153
SQFT
$99
$/SQFT
1900
Built
Neighborhood:
St. Albans City
County:
Franklin
Area:
St. Albans City
Property Description
Investment opportunity in the heart of St. Albans City to own a freestanding multi-tenant mixed use property directly on Main St., with 8 units (2 commercial and 6 residential). Commercial Unit 1 is currently owner occupied by Kevin Smith Team Sports and Corporate Apparel. This unit encompasses three floors (finished basement w/large office, work/packing/shipping area + storage, 1st Floor w/6 offices, open floor/meeting space + storage, and 2nd Floor with 3 offices). The finished basement was historically utilized as a bar. Based on its egress, finished space, heat + cooling service, and bathroom service, this could be separately rented space down the road. The rented Commercial Unit 2 offers a Main St. first floor store front as well. The 6 apartments are 100% tenant-occupied on a month to month basis with 2 units on the 2nd floor and 4 on the 3rd. There's plenty of parking with on-site spaces for 13 vehicles and the property also benefits from street-side parking and nearby municipal parking lots. Well maintained/updated building and the Income Capitalization Approach offers a strong CAP rate with both the current and market rent rates. Truly a wonderful OPPORTUNITY (investment buyer, 1031 exchange, business owner), BUILDING (free standing, two store fronts, 6 rental units, mix-use possibilities - flex industrial, shared office, micro-apartments, etc.), and LOCATION (downtown St. Albans, parking, nearby restaurants, shops and parks, close to I-89 and Lake Champlain).
Exterior Features

Construction Wood Frame Exterior Brick Lot Description City LotNeighbor BusinessRental ComplexSidewalks Parking Off StreetOn-SiteOn StreetParking Spaces 11 - 20 Road Frontage Tbd Roof CorrugatedMembraneMetalShingle - Asphalt Transport Access City StreetPaved

Interior Features

Basement Yes Basement Access Type Interior Basement Description Concrete FloorFullNo Tenant AccessPartially FinishedStairs - ExteriorStairs - InteriorInterior AccessStairs - Basement Cooling Mini Split Equipment DehumidifierAir Conditioner Foundation BlockConcretePoured ConcreteStone Heating Heat PumpHot Air Sq Ft Total Building 12454 Sq Ft Total Source Appraiser

Property Features

Cable Company Comcast Electric Company Gmp Fuel Company Vermont Gas Gross Income 121260 Heat Fuel Gas - Natural Natural Gas Available Yes Net Income 91672 Phone Company Comcast Pre Construction No Project Building Name Kelley Sale Includes Land/Building Sewer Public Span Number 549-173-01326 Sprinkler Dry Sub Property Type BusinessInvestmentOfficeOther Sub Property Type Use Free Standing BuildingOffice BuildingStorefront Tax Gross Amount 14515.56 Tax Year 2022 Taxes Tbd No Utilities Gas - On-SiteInternet - CableTelephone At Site Water Public Zoning LtComm

Courtesy of Leigh Horton of Your Journey Real Estate.


© 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 displayed on this 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 2022-01-28T20:05:31.71.
 
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