Bought with Connor Johnson • KW Vermont
$544,000
$550,000
1.1%For more information regarding the value of a property, please contact us for a free consultation.
3182 Shelburne RD Shelburne, VT 05482
0.52 Acres Lot
Key Details
Sold Price $544,000
Property Type Commercial
Sub Type Hospitality,Investment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 4888656
Sold Date 12/21/21
Year Built 1950
Annual Tax Amount $8,787
Tax Year 2021
Lot Size 0.520 Acres
Acres 0.52
Property Description
With a prime location right on Shelburne Rd, this single tenant restaurant space is a fantastic investment opportunity. The property already has a NNN lease in place with a scheduled rent increase set for April 1st 2022. Current rental income is $48,000 and will increase to $54,000. Taxes have been included in calculating the NOI of $40,109.10. At our asking price, the property has a very attractive Cap Rate of 7.3%. The space underwent a full scale remodel in 2018, which included a new entrance, bathrooms, bar, server station, floor plan, flooring, paint job, booths, and light fixtures. The space was additionally outfitted with high end furniture, paintings, glassware, silverware, and a full line of kitchen equipment. All of the restaurant equipment is owned with the building and leased to the current tenant.
Location
State VT
County Vt-chittenden
Area Vt-Chittenden
Zoning Commercial
Exterior
Exterior Feature Vinyl
Utilities Available Internet - Cable, Telephone At Site
Building
Sewer Public
Water Public
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