254 Pearl St Burlington, VT 05401

Property Details for 254 Pearl St

Year built

1899

Lot size

0.31 lot acres

Property size

6,056 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a mixed-use portfolio in Burlington, Vermont, encompassing two buildings situated on separate 0.31-acre lots, totaling 6,056 square feet. The portfolio includes a mixed-use building featuring a well-established ground-floor dental office and two 2-bedroom apartments above. A walk-up attic with high vaulted ceilings offers significant potential for expansion or conversion. Conveniently located adjacent to Pearl Street Beverage, ample parking is available. The second building is a single-family home, boasting 1,780 square feet, two bedrooms, two updated bathrooms, an attached garage, and a pleasant yard with additional parking. The property is zoned RM and offers a compelling 4.79% cap rate with a net operating income (NOI) of $66,975. The asking price is $1,398,000, representing $231 per square foot and $349,500 per unit. Built in 1899 and 1920, this property presents a rare blend of historic charm and modern functionality, ideal for investors seeking a strong return in a vibrant downtown location. The property's four units and established tenancy provide immediate cash flow, while the potential for further development and renovation adds significant long-term value. This is a unique opportunity to acquire a substantial portfolio in a highly desirable Vermont location. The address is 254 & 256-258 Pearl Street, Burlington, VT 05401.