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3757 Richville Road, Manchester, VT, 05255 | $1,100,000
The buyer of this property would net a CAP RATE OF 5. 125% This building was originally constructed by the Central Vermont public service corporation, (CVPS): in 1986. It is constructed to the highest industrial standards. The present owners bought it 1998 it’s served as their offices and A manufacturing facility for print and publishing business. Simultaneously half of the building was leased to a high-quality very successful fresh fish retailer and wholesaler. When the present owners close their printing business it was immediately occupied by long-term tenants. The building has experienced a 98% occupancy rate for 23 years. The CAP rate at the selling price is 5. 125%. There are strong long-term leases in place that will continue with the new owners. The fresh fish wholesaler has a new 10 year lease and there is a daycare center in the front of the building that has a four year lease. There are two other “tenant at will” occupants that have been there over 10 years. Utilities are separate for the fresh fish wholesaler and the rest of the building heating system has been upgraded to 98% efficient propane systems. This is an excellent investment opportunity to own a turnkey rental property.
Features
- Property Type: Business,Industrial,Vacant Land
- Construction: Insulation-Foam/ClkAirSl,Masonry,Metal,Aluminum Siding,Composition Exterior,Metal Clad Exterior,Stucco Exterior
- Parking: Off-Site,Parking Spaces 21+,Paved
- Heating: Air to Air Heat Exchanger,Baseboard,Gas Heater,Gas Heater - Vented,Hot Air,Hot Water,Multi Zone
- Cooling: Central AC
- Units: 4
- Zoning: Mixed
- Frontage: 175
- Year Built: 1986
- Acreage: 9.4
- Est. Taxes: $14,367
- MLS#: 4968327
- Website: https://www.raveis.com
/prop/4968327/3757richvilleroad_manchester_vt?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimMLS. 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 5/16/2024Listing courtesy of Derek Greene Phone: 860-560-1006
Listing Agent: Derek Greene
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NMLS Mortgage Loan Originator ID 793093
203.415.2989
Brian.Skelly@raveis.com
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3757 Richville Road, Manchester, VT, 05255
$1,100,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Brian Skelly
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $880,000 | $880,000 | $880,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.000% | 6.750% | 6.500% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.377% | 6.851% | 6.664% |
| Monthly Tax Payment | $1,197 | $1,197 | $1,197 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,276 | $5,708 | $7,666 |
| Total Monthly Payment | $6,598 | $7,030 | $8,988 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484