Building Details

Buildings 2

Stories 1

Units 2

Tenancy Multi

Listing Agency: Donahue & Associates

Listed By: Steve Donahue · License #VT 081-0004508 Show Phone

Source: Crexi

Added: Apr 3, 2024 Changed: Sep 26 Last Checked: Oct 4 at 9:28AM

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Investment Insights

Based on property information with market context.

This commercial property is located in Rutland Town and offers a retail space with a 2,185 square foot lease to Gr. Mt. Credit Union, providing a steady income stream. Situated in the heart of the Regional Commercial Business District at a signalized intersection, the property benefits from high traffic exposure of 25,521 ADT. The lot size is 0.55 acres, enhancing the property's potential for redevelopment. The property is located on Route 7 corridor market. Rutland Town's lack of zoning ordinances means effortless development possibilities for this property.

Key Highlights

• Leased to Gr. Mt. Credit Union, providing a steady income stream.
• Prime location in the heart of the Regional Commercial Business District at a signalized intersection.
• High traffic exposure of 25,521 ADT.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,827

Cap Rate

4.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$816,540 $816.5K

Cap Rate 7%

$583,243 $583.2K

Cap Rate 9%

$453,633 $453.6K

Market Conditions

NOI Build-Up for 5,021 SF

Gross rent

$66.3K $13.20/SF

− Vacancy

−$8.0K −$1.58/SF

EGI

$58.3K $11.62/SF

− OpEx

−$17.5K −$3.48/SF

NOI

$40.8K $8.13/SF

Area

Rutland County, VT

Vacancy

12.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$816,540

Cap Rate 7%

$583,243

Cap Rate 9%

$453,633

Alternative Uses

Best Use

Retail

$583.2K

$510.3K – $680.5K (±1% cap)

NOI $40,827 @ 7.0% cap · market cap 4.41%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$874.2K

$764.9K – $1.02M (±1% cap)

NOI $61,195 @ 7.0% cap · market cap 6.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Real Estate Agency Hair Salon HVAC Service Cafe & Coffee Shop Furniture & Home Goods Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

514

Businesses Nearby

175k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 35% Dining 27% Groceries 25% Office Supplies 7%

Hannaford Groceries

43,192 visits/mo 0.3 miles

McDonald's Dining

32,364 visits/mo 0.4 miles

Ninety Nine Restaurants Dining

14,699 visits/mo 0.2 miles

Cumberland Farms Shops & Services

13,965 visits/mo 0.3 miles

Ocean State Job Lot Shops & Services

13,145 visits/mo 0.2 miles

Demographics for 05701, VT

20,349

Population

10,528

Households

1.9

Avg Household Size

48

Median Age

34%

College-Educated

93%

High-School Grad

67.7 sq mi

ZIP Area

301

Density / Sq Mi

$58,744

Median Household Income

$41,391

Median Earnings

$963

Median Rent

$202,800

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - Retail property with high traffic exposure and redevelopment potential.

Where is this retail space located?

The property is located at 274 S Main St Rutland, VT.

What is the asking price?

The asking price for this property is $925,000.

What are key features of this property?

This property features: Leased to Gr. Mt. Credit Union, providing a steady income stream.; Prime location in the heart of the Regional Commercial Business District at a signalized intersection.; High traffic exposure of 25,521 ADT.