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Battell Block 10 Merchants Row 41 Unit Apartment Building $9,565,000 ($233,293/Unit) 7.52% Cap Rate Middlebury, VT 05753



INVESTMENT HIGHLIGHTS
- Cash flowing Crown Jewel Property
- Energy Efficient heating and cooling systems
- Ample Natrual Light
EXECUTIVE SUMMARY
The Battell Block in Middlebury is the cornerstone of the downtown. It offers tenants quick access to local amenities and is only a 5-minute walk to the Middlebury College campus. Enjoy a stroll down Main Street to the local bank, library, the Marquis movie theater, shops, restaurants and colleges. With quick access to Route 7 and other major highways, sidewalk seating, and the town park directly across the street, Battell Block is truly the best located property in town.
The historic Battell Block building has long been a landmark presiding over downtown Middlebury and the Otter Creek. It was originally built with the vision of being a 'major commercial center' and has since been modernized, with 28,000 +/- SF of commercial space and 33 newly renovated loft, one- and two-bedroom apartments. The Battell Block Residences pay homage to the original historic motifs, while providing fresh, modern upscale apartments and convenient downtown living. With apartments overlooking beautiful downtown Middlebury and the dramatic Otter Creek, the Battell Block Residences and Commercial Spaces offer a true taste of Middlebury, both past and present.
The historic Battell Block building has long been a landmark presiding over downtown Middlebury and the Otter Creek. It was originally built with the vision of being a 'major commercial center' and has since been modernized, with 28,000 +/- SF of commercial space and 33 newly renovated loft, one- and two-bedroom apartments. The Battell Block Residences pay homage to the original historic motifs, while providing fresh, modern upscale apartments and convenient downtown living. With apartments overlooking beautiful downtown Middlebury and the dramatic Otter Creek, the Battell Block Residences and Commercial Spaces offer a true taste of Middlebury, both past and present.
PROPERTY FACTS
| Price | $9,565,000 | Apartment Style | Low-Rise |
| Price Per Unit | $233,293 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.96 AC |
| Cap Rate | 7.52% | Building Size | 68,200 SF |
| No. Units | 41 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1900/2017 |
| Property Subtype | Apartment | Parking Ratio | 0.01/1,000 SF |
| Zoning | Commercial - Commercial | ||
| Price | $9,565,000 |
| Price Per Unit | $233,293 |
| Sale Type | Investment |
| Cap Rate | 7.52% |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.96 AC |
| Building Size | 68,200 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2017 |
| Parking Ratio | 0.01/1,000 SF |
| Zoning | Commercial - Commercial |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 7 | - | 352 - 465 |
| 1+1 | 15 | - | 490 - 1,766 |
| 2+1 | 8 | - | 741 - 1,520 |
| 2+2 | 1 | - | 1,068 |
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Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 387-120-10185 | Improvements Assessment | $4,072,300 |
| Land Assessment | $381,000 | Total Assessment | $4,453,300 |
PROPERTY TAXES
Parcel Number
387-120-10185
Land Assessment
$381,000
Improvements Assessment
$4,072,300
Total Assessment
$4,453,300
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Battell Block | 10 Merchants Row
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