Commercial for Sale: 368 River Street, Springfield, VT 05156

$850,000
$850,000
368 River Street, Springfield, VT 05156
$850,000
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Price:
$850,000
$145,000 - 09/06/2023

Type Commercial
Lot Size 1.12 acres
Year Built 1986
Taxes Paid $18,602

City Springfield
County Windsor

MLS 4910367
Status Active
DOM 905 days
GREAT INVESTMENT PACKAGE--11.8% estimated projected annual Cap Rate-now 100% occupancy, with needed siding work and HVAC upgrades being done, good condition, low maintenance (roof replaced 2018-19), town water and sewer, great parking, with potential for additional income. This 1-story building currently offers 12 office/retail units, plus 38 storage units at the basement level. Basement has a drive-in, garage door access, with room to add additional storage units. Building has a truss roof frame, which would allow floorplan alterations if needed. Projected annual NOI, with recently added tenant, estimated to be approx. $100K, using 2023 adjusted Operating Expenses, would give an 11.8 Cap Rate at current price. With room for additional basement storage units, it makes this investment prospect even more attractive. Leases are a mix of partial net and gross rents. Tenants are a mix of primarily professional offices. There are 10 propane-fired HVAC units and 9 total electric services, but not all zoned specifically for individual units, as the floorplan has changed over time. Seller will consider only PREQUALIFIED OR APPROVED BUYERS, and buyers should be prepared to offer a satisfactory financial statement/proof of funds.

Lot & Building Features

Utilities Cable, Cable - At Site
Construction Vertical Siding, Wood Siding, Wood Frame, Vinyl Siding
Cooling Central AC, Multi Zone
Heat Source Gas - LP/Bottle
Heating Forced Air, Multi Zone, Hot Air
Parking Description Off Street, Paved, Parking Spaces 21+, On-Site
Sewer Public
Tax Year 2022
Taxes Paid $18,602
Water Public
Basement Description Concrete, Walkout, Unfinished, Storage Space, Storage - Locked, Storage - Assigned, Stairs - Exterior, Stairs - Basement, Full, Exterior Access, Concrete Floor
Foundation Poured Concrete
Lot Description Level, Open, Neighbor Business, Major Road Frontage
Roof Shingle - Asphalt

Price History of 368 River Street, Springfield, VT

Date Name Price Difference
09/06/2023 Price Adjustment $850,000 14.57%
09/08/2022 Price Adjustment $995,000 13.48%
05/17/2022 Listing Price $1,150,000 N/A
*Information provided by REWS for your reference only. The accuracy of this information cannot be verified and is not guaranteed.

Map of 368 River Street, Springfield, VT

Location Map Street View
Photo of Karen Spero
Karen Spero
REALTOR®
Direct: 603-548-5891
Office
185 Plaistow Road, Suite 1
Plaistow, NH 03865
603-382-0360 x14
Listed by Big Green Real Estate, William Johnson
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2.1884705882353%
6.75%
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368 River Street (MLS #4910367) is a commercial listing located in Springfield, VT. This commercial listing is on a lot of 48,787 sqft (or 1.12 acres) and is 38 years old. This property was listed on 09/17/2024 and has been priced for sale at $850,000.

Nearby zip codes are 05146, 05150, 05151 000, 05151 and 05156 0000. This property neighbors other cities such as Baltimore, Charlestown, Chester and Weathersfield.

PrimeMLS

Listing Last updated . Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Walk Score map and data provided by Walk Score. Google map provided by Google. Bing map provided by Microsoft Corporation.

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Listing information courtesy of: Big Green Real Estate

Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers. personal, non- commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 11/07/2024