69 Mountain View Dr Colchester, VT 05446

Property Details for 69 Mountain View Dr

Year built

2015

Construction

STEEL FRAME

Lot size

3.88 lot acres

Property size

13,416 SF

Zone code

COM

Property type

Turn key restaurants

APN

(048) 03-0100030000000

APU

48030100030000000

Description

This exceptional investment opportunity presents a fee-simple ownership of a 13,320-square-foot CVS Pharmacy in Colchester, Vermont. The property boasts a 100% occupancy rate under a 25.3-year absolute NNN lease with a credit-rated tenant and corporate guarantee, offering significant security and minimal landlord responsibilities. With 16.2 years remaining on the lease, the property provides a stable, passive income stream. The lease includes ten five-year options, with current rent in the first two options and fair market value rent in subsequent options. The property sits on a large 3.59-acre lot at a signalized intersection with over 23,000 vehicles passing daily, benefiting from its strategic location off Interstate 89 (approximately 47,000 VPD) and proximity to downtown Burlington (10 minutes away). Annual visits to the CVS exceed 191,000, showcasing a remarkable 40.1% year-over-year increase. The property's exceptional location is further enhanced by its adjacency to Vermont's only Costco, generating over 2.5 million annual visits. The surrounding area features a high concentration of residents (over 58,000 within a 3-mile radius) with an average household income of $86,000, contributing to strong consumer spending. The property is also conveniently located near several schools, universities, Burlington International Airport, and major employers, including the University of Vermont Medical Center and GlobalFoundries, ensuring consistent high traffic volume. Built in 2015, this single-story building offers a compelling 5.75% cap rate and a net operating income (NOI) of $295,988, making it an attractive investment opportunity with significant long-term potential. The asking price is $5,147,617, translating to a price per square foot of $386.46. This property offers a rare combination of strong tenant, prime location, and substantial remaining lease term, presenting a compelling investment opportunity.

Location Insight

City

Colchester

County

Chittenden

State

Vermont

Longitude

-73.1819

Latitude

44.507

CBSA code

15540

CBSA name

BURLINGTON-SOUTH BURLINGTON, VT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments