Listing Presented by:
Yves E. Bradley
Principal Broker, Partner
Office: 802-864-2000 x5
Cell: 802-363-5696
208 Flynn Avenue, Studio 2i
Burlington, VT 05401
Contact Yves
| Investment Property with Significant Additional Development Potential! | |
| Price: | $699,000 Taxes $9,268.58 - 95% paid by Tenant ($8,805.15) |
| Address: | 997 Fairfax Rd. |
| St. Albans, VT 05478 | |
| Use: | Town of Saint Albans Commercial Zoning allows a multitude of uses |
| Type: | For Sale |
| Size: | 3,000 +/- SF Building, plus detached storage barn on 3.65 +/- Acres |
| Available: | Immediately |
| Parking: | Ample On Site |
Description:
Great development opportunity with passive income in place to support carrying costs! As the town of St. Albans expands, this property offers a unique opportunity to develop additional stand-alone building sites, as well as having potential for self storage. Veterinary clinic has six years of term on their lease, with an additional five-year option. Current NOI is $43,00.00 +/-/Year. There is a detached two-level barn that is available for owner’s use. This site is highly visible from I-89 South, and presents a great opportunity for a contractor’s yard, as well as many other end users. Site was previously permitted for 8,200 +/- SF of self- storage units, a new 4,000 +/- SF veterinary clinic, a 2,600 +/- SF (125 seat) restaurant and three 2,400 +/- SF retail and office buildings, including city water and sewer allocations, State storm water and wetland approvals, and VTrans approval on a PUD. Property is located just off I-89, Exit 19, and is located directly across from the Collins Perley Sport and Fitness Center.