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516 Farrell St 26,482 SF Retail Building Burlington, VT 05401 $6,000,000 ($226.57/SF) 11.18% Cap Rate
Investment Highlights
- High traffic location at lighted intersection
- Multifamily housing, hotel, retail development throughout neighboring area.
- Busy retail corridor with access from Route 7 and Interstate 89
Executive Summary
PRICE REDUCTION - OWNER SAYS SELL - Now $6,000,000
Exciting opportunity to take over final years of an extremely attractive CMBS loan while working on long term redevelopment plans and financing. This standalone Walgreens property has 11 + years of lease term to provide an investor the opportunity to re-tenant the property, and build out the 2nd floor into other uses, creating stabilizing the two tow levels of high value lease space.
This is a highly sought after, high traffic, lighted intersection corner lot on Route 7/Shelburne Roads retail corridor. High density of high-volume retail and supermarket anchored centers in close proximity to the 514 Farrell Street Property.
Call for details.
Exciting opportunity to take over final years of an extremely attractive CMBS loan while working on long term redevelopment plans and financing. This standalone Walgreens property has 11 + years of lease term to provide an investor the opportunity to re-tenant the property, and build out the 2nd floor into other uses, creating stabilizing the two tow levels of high value lease space.
This is a highly sought after, high traffic, lighted intersection corner lot on Route 7/Shelburne Roads retail corridor. High density of high-volume retail and supermarket anchored centers in close proximity to the 514 Farrell Street Property.
Call for details.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
26,482 SF
Building Class
B
Year Built/Renovated
1954/2010
Price
$6,000,000
Price Per SF
$226.57
Cap Rate
11.18%
NOI
$671,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.66
Lot Size
0.92 AC
Zoning
Commercial 1 -R15 - C1-R15 - Mixed use multi story retail, commercial, hospitality, and residential allowed uses.
Parking
47 Spaces (1.77 Spaces per 1,000 SF Leased)
Amenities
- Signage
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | (188) 0670-00514 | Improvements Assessment | $5,328,000 |
| Land Assessment | $0 | Total Assessment | $5,328,000 |
Property Taxes
Parcel Number
(188) 0670-00514
Land Assessment
$0
Improvements Assessment
$5,328,000
Total Assessment
$5,328,000
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