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Pinewood Manor Shopping Center 57 River Rd 50,560 SF 74% Leased Retail Building Essex Junction, VT 05452 $3,250,000 ($64.28/SF) 9.73% Cap Rate
Investment Highlights
- Strong investment performance supported by a 9.7 percent cap rate and established multi-tenant occupancy.
- Recent capital improvements including heat pump replacements, roof upgrades, and porch repairs enhancing long-term stability.
- Nearly ten acres with two main buildings and outbuildings providing flexible operational and storage solutions.
- Strategic location along VT Route 117 with immediate access to VT-289 and quick connection to Downtown Essex.
- Attractive setting featuring mountain views, professional common areas, and ground-level access to both floors.
Executive Summary
Pinewood Manor Plaza presents a compelling investment opportunity in the heart of Essex Junction, offering a substantial commercial asset positioned along the well-traveled VT Route 117 corridor. Situated on nearly ten acres, the property benefits from exceptional visibility and immediate access to VT-289, placing it just five minutes from Downtown Essex and within reach of the region’s residential population, business traffic, and employment centers. Built in 1978 and thoughtfully maintained, the plaza comprises two multi-story buildings connected by an upper walkway, supported by two additional outbuildings ideal for storage and operational needs. With 27 leasable units operating on gross leases, the asset functions as a stable multi-tenant incubator environment, appealing to a diverse mix of small businesses and service users. Modern upgrades reinforce long-term value, including new heat pumps installed between 2021 and 2023, partial roof replacement in 2022, and front-porch repairs completed in 2023. The property offers ground-level access for both floors due to its hillside construction, sweeping mountain views, ample parking, and professional common areas that support tenant retention and appeal. Its strong financial performance is highlighted by a current NOI of $316,113 and a 9.7% cap rate, making it a rare offering in the Essex Junction commercial market. Investors seeking a balanced combination of stabilized income, expansion flexibility, and regional accessibility will find Pinewood Manor Plaza positioned for continued success within one of Vermont’s most active commercial corridors. Contact agents for full rent roll.
Property Facts Under Contract
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
50,560 SF
Building Class
C
Year Built
1978
Price
$3,250,000
Price Per SF
$64.28
Cap Rate
9.73%
NOI
$316,113
Percent Leased
74%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.12
Lot Size
9.96 AC
Zoning
MXD - Mixed Use
Parking
133 Spaces (2.63 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Abba Fuels Inc
- Wholesaler
- -
- -
- -
- Abbott & Dartt Appraisal Service Llc
- Real Estate
- -
- -
- -
- Commercial Interiors Dm Boire
- Professional, Scientific, and Technical Services
- -
- -
- -
- Grenier's Pest Control
- Services
- -
- -
- -
- Mansfield Mortgage Professionals
- Finance and Insurance
- -
- -
- -
- Northwestern Vt Model Railroad
- Services
- -
- -
- -
- Pinewood Beauty Salon
- Services
- -
- -
- -
- Techtron Environmental
- Construction
- -
- -
- -
- Techtron Environmental Inc
- Waste Management and Remediation Services
- -
- -
- -
- Vermont French Canadian Genealogical Society
- Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Abba Fuels Inc | Wholesaler | - | - | - | ||
| Abbott & Dartt Appraisal Service Llc | Real Estate | - | - | - | ||
| Commercial Interiors Dm Boire | Professional, Scientific, and Technical Services | - | - | - | ||
| Grenier's Pest Control | Services | - | - | - | ||
| Mansfield Mortgage Professionals | Finance and Insurance | - | - | - | ||
| Northwestern Vt Model Railroad | Services | - | - | - | ||
| Pinewood Beauty Salon | Services | - | - | - | ||
| Techtron Environmental | Construction | - | - | - | ||
| Techtron Environmental Inc | Waste Management and Remediation Services | - | - | - | ||
| Vermont French Canadian Genealogical Society | Services | - | - | - |
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | (067) 2024007-000 | Improvements Assessment | $2,086,400 |
| Land Assessment | $354,900 | Total Assessment | $2,441,300 |
Property Taxes
Parcel Number
(067) 2024007-000
Land Assessment
$354,900
Improvements Assessment
$2,086,400
Total Assessment
$2,441,300
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Pinewood Manor Shopping Center | 57 River Rd
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