365 Depot St Manchester Center, VT 05255-9745

Property Details for 365 Depot St

Year built

1977

Lot size

1.91 lot acres

Property type

Commercial real estate

APN

(116)0537

APU

1160537

Description

This exceptional investment opportunity presents the Equinox Square Shopping Center, a 17,985 square foot retail center situated on a 1.91-acre lot in Manchester Center, Vermont. Built in 1978, the property comprises three single-story buildings housing six tenants, boasting 100% occupancy. Anchored by Starbucks, with a drive-thru, the tenant mix also includes Subway, Jockey, Carter's, LX Fitness Club, and Body Lab. Four of the six leases include scheduled rent increases, offering a built-in hedge against inflation. Three tenants operate under net leases, minimizing operating expenses for the owner. The property enjoys excellent visibility and accessibility on Depot Street (VT Route 11), a primary commercial corridor, and benefits from its proximity to US Highway 7 and Main Street. Located in the heart of Manchester Center, it's near major grocery stores and surrounded by a vibrant mix of boutiques, restaurants, and attractions. The area's strong demographics, with an average household income exceeding $110,000 within a 10-mile radius, and a significant seasonal influx of tourists, further enhance the investment potential. Daily traffic counts on Depot Street average over 10,300 vehicles. The asking price is $3,265,467, representing a 7.50% cap rate and a substantial net operating income (NOI) of $244,910. This stabilized investment offers a compelling combination of strong tenant occupancy, attractive lease terms, and a prime location in a thriving Vermont community.

Location Insight

City

Manchester Center

County

Bennington

State

Vermont

Longitude

-73.0506

Latitude

43.1747

CBSA code

13540

CBSA name

BENNINGTON, VT MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments