274 Main St Rutland, VT 05701
- Retail properties
- 5,021 SF
- 0.55 lot acres
Current Use by Public Records
- Retail properties
Property Details for 274 Main St
- Lot size
- 0.55 lot acres
- Property size
- 5,021 SF
- Property type
- Retail properties
- Property subtype
- Banks
Description
This exceptional Rutland Town, Vermont property offers a unique blend of investment opportunities. Priced at $925,000, this 5,021 square foot retail space boasts two buildings on a 0.55-acre lot with 15 parking spaces. Currently, the property features a 2,185 square foot lease to a credit union with a credit-rated tenant and a one-year remaining lease term, providing immediate income. The second building, a 2,836 square foot auto shop, is occupied by a short-term tenant. The property enjoys a prime location in a high-traffic area with an average daily traffic count of 25,521 vehicles, situated at a signalized intersection within the Regional Commercial Business District. The absence of zoning ordinances in Rutland Town presents significant redevelopment potential for this versatile property. The property's current 50% occupancy rate offers a compelling value-add opportunity, with a projected full occupancy date of April 3, 2024. This NNN lease structure minimizes landlord responsibilities, making it an attractive investment for experienced investors. The property's dual-building configuration and ample parking further enhance its appeal. This is a rare chance to acquire a well-located, multi-tenant property with significant upside potential in a thriving Vermont market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rutland
- County
- Rutland
- State
- Vermont
- Longitude
- -72.9682
- Latitude
- 43.5893
