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Listed by Leigh Horton, Your Journey Real Estate
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).

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Copyright 2022 New England Real Estate Network, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate for sale on this web site comes in part from the IDX Program of NEREN. 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 January 28, 2022.

 

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