Listing Provided Courtesy Of:
Leigh Horton with Your Journey Real Estate.
Address
38 South Main Street St. Albans City, VT
Price
$ 1,200,000
Property Attributes
  • MLS#4894996
  • TypeCommercial
  • CountyFRANKLIN
  • CitySt. Albans City
  • AreaFranklin
  • Zip05478
  • StyleBusiness,Investment,Office
  • Year Built1900
  • Taxes$ 14515
  • Price$ 1,200,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage12454
  • Lot Size0.37 Acres
Listing Provided Courtesy Of:
Leigh Horton with Your Journey Real Estate.
Data Source:
Northern New England Real Estate Network (NNEREN)
Property Description

Investment opportunity in the heart of St. Albans City to own a freestanding multi-tenant mixed use property directly on Main St., with 8 units (2 commercial and 6 residential). Commercial Unit 1 is currently owner occupied by Kevin Smith Team Sports and Corporate Apparel. This unit encompasses three floors (finished basement w/large office, work/packing/shipping area + storage, 1st Floor w/6 offices, open floor/meeting space + storage, and 2nd Floor with 3 offices). The finished basement was historically utilized as a bar. Based on its egress, finished space, heat + cooling service, and bathroom service, this could be separately rented space down the road. The rented Commercial Unit 2 offers a Main St. first floor store front as well. The 6 apartments are 100% tenant-occupied on a month to month basis with 2 units on the 2nd floor and 4 on the 3rd. There's plenty of parking with on-site spaces for 13 vehicles and the property also benefits from street-side parking and nearby municipal parking lots. Well maintained/updated building and the Income Capitalization Approach offers a strong CAP rate with both the current and market rent rates. Truly a wonderful OPPORTUNITY (investment buyer, 1031 exchange, business owner), BUILDING (free standing, two store fronts, 6 rental units, mix-use possibilities - flex industrial, shared office, micro-apartments, etc.), and LOCATION (downtown St. Albans, parking, nearby restaurants, shops and parks, close to I-89 and Lake Champlain).

Price History
1/11/2022 Listed $1,200,000

General Features

Area Description Business District, Commercial Zoning, Historic District, In Town, Near Shopping, Near Public Transportatn
Basement Yes
Building Name Kelley
Construction Wood Frame
Cooling Mini Split
Heating Heat Pump, Hot Air
Listing Area VT-Franklin
Net Income 91672
Parking Off Street, On-Site, On Street, Parking Spaces 11 - 20
Price Per Sq Ft 96.35
Road Frontage TBD
Roof Corrugated, Membrane, Metal, Shingle - Asphalt
Sewer Public
Status Active
Tax Year 2022
Transport/access City Street, Paved
Utilities Gas - On-Site, Internet - Cable, Telephone At Site
Water Public
Year Built 1900
Zoning LT, COMM

Interior Features

Basement Access Type Interior
Basement Description Concrete Floor, Full, No Tenant Access, Partially Finished, Stairs - Exterior, Stairs - Interior, Interior Access, Stairs - Basement
Equipment Dehumidifier, Air Conditioner
Gas - Natural Available Yes
Heating Fuel Gas - Natural
Total Number of Units 9

Exterior Features

Exterior Brick
Foundation Block, Concrete, Poured Concrete, Stone
Lot Description City Lot, Neighbor Business, Rental Complex, Sidewalks
Lot Size Area 0.37
Sprinkler Dry

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Commercial Average in 05478

Statistics provided by Inside Real Estate

Price
AVG $540K
$1.2M
Taxes
AVG $7,784
$14,515
Visits
AVG 74
12
Year Built
AVG 1898
1900
Walkscore
AVG 72
87
Data Provided by Walkscore ® not using MLS data

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