1115 Route 4A Castleton, VT 05735

Property Details for 1115 Route 4A

Year built

1890

Lot size

2.02 lot acres

Property size

7,319 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a versatile 7,319 square foot, four-unit multi-use building situated on a 2.02-acre lot in Castleton, Vermont. The property boasts a strategic mix of income-generating units: two spacious offices and two two-bedroom, open-concept apartments. This diverse portfolio offers immediate rental income and significant potential for future growth. The existing office spaces present a compelling opportunity for conversion into additional apartments, further enhancing rental income and maximizing return on investment. A finished basement area provides additional flexibility, suitable for use as a studio, office space, or conversion into yet another apartment unit. A portion of the property (1.21 acres) is currently leased to the Town of Castleton for a community recreation area until June 2086, for a nominal annual lease amount of $1. Importantly, this lease restricts the construction of any structures on the leased land. This property offers a unique blend of immediate revenue generation and long-term strategic growth potential, making it an attractive investment for discerning buyers. The asking price is $287,500. This is a rare opportunity to acquire a multi-use property with significant upside in a desirable Vermont location.

Location Insight

City

Castleton

County

Rutland

State

Vermont

Longitude

-73.1814

Latitude

43.6221