Property Listing No Longer Available for Sale

25 29 Center St, Rutland, VT

Office for Sale - $259,500


Property Info

CIMLS#880536
Location
  25 29 Center St
  Rutland VT 05701
UpdatedJune 19th, 2016
TypeOffice
Price$259,500

Property Description

three Level Brick Commercial Block, adjacent Downtown Parking Garage & Transit Center, across from Paramount Theater,...with well-lit ten feet.-wide enclosed walkway through subject bldg leading between them. Of the 13.460 sq. feet, 8,960 sq-ft is finished area on the first and second floors, with the balance of 4,500 square ft being unfinished third floor area (ideal for renovation into loft apartments?). The elevator serving three floors needs repairs estimated at $20,000+ to make operable.


Tenant Mix:


ground level: Hawley's Florist, Frogs & Lily Pads


second Floor: A. M. Peisch, Accountants, Ted Robare, Law Office


There is a large basement, used for storage,...not included in the bldg square footage calculations. 6.8% CAP Rate is based upon current 100% occupancy. That drops to 4.6% using a market vacancy rate of 10%.


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