69 Mountain View Dr Colchester, VT 05446
For Sale
1 / 5
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.
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CVS Photo (Bike/Boat/Book/etc) Store Printing Service
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CVS Pharmacy Pharmacy
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CVS Pharmacy
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UPS Access Point location Courier Service Postal Service
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LibertyX Bitcoin ATM Atm
COM Commercial District IND Industrial District BD Business District (4) Other Districts AGR Agricultural District MHP Mobile Home Park District FP Flood Plain District AMU Agricultural Mixed-Use District (5) Overlay Districts GD4C General Development Four Commercial District SD Shoreland District WPD Water Protection District HPD Historic Preservation Distr…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
COM · Colchester, VTCOM Commercial District IND Industrial District BD Business District (4) Other Districts AGR Agricultural District MHP Mobile Home Park District FP Flood Plain District AMU Agricultural Mixed-Use District (5) Overlay Districts GD4C General Development Four Commercial District SD Shoreland District WPD Water Protection District HPD Historic Preservation District TDRD Transferable Development Rights District 2.01-B Description of Certain Districts. 2-2 Colchester Development Regulations Supplement 49 (1) Flood Plain District. The boundaries of the Floodplain District shall include those areas that are identified and defined as areas of special flood hazard in and on the most current flood insurance studies and maps published by the Department of Homeland Security (DHS), Federal Emergency Management Agency (FEMA), National Flood Insurance Program (NFIP), as provided by the Secretary of the Agency of Natural Resources pursuant to 10 V.S.A. § 753, which are hereby adopted by reference and declared to be part of these regulations. This regulation does not imply that the land outside of the Floodplain District is free from flood or erosion damages. This regulation shall not create liability on the part of the Town of Colchester, or any municipal official or employee thereof, for any flood or erosion damages that result from reliance on this regulation or any administrative decision lawfully made hereunder. (2) Water Protection District. The boundaries of the Water Protection District shall include: 1) those areas that are identified and defined as Class I and II wetlands as designated by the National Wetlands Inventory (NWI) maps published by the U.S. Fish and Wildlife Service as well as all lands within 50 feet horizontal distance of these wetlands, and 2) surface waters and associated buffers as described in Section 7.04 herein and as depicted on the Overlays Districts Map. Final determination of wetland and surface water location and associated boundaries shall be made by a professional wetland/aquatic biologist in case of conflict. Official Maps and Other Maps 2.02-A Official Zoning Map. The Official Zoning Map describes the different and separate districts of the Town of Colchester set forth in Section 2.01. The Official Zoning Map is filed in the office of the Town Clerk and is incorporated herein by reference. 2.02-B Overlay Districts Map. The Overlay Districts Map describes the different and separate overlay districts of the Town of Colchester set forth in Section 2.01.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
