Commercial/Multi Use Property

Rutland Town, VT (Rutland County)

261 Woodstock Ave. Rutland Town, VT
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Asking Price: $350,000

Gross Revenue: N/A

Price/Sq. Ft.: N/A

NOI: N/A

Building SF: N/A

FF&E: N/A

Year Built: N/A

Commercial/Multi Use Property

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Property Description

Commercial Property in Rutland Town, VT With Excellent Location for $350,000!

Rutland County Commercial/Multi-Use Property located in Rutland Town, Vermont that offers two separate detached buildings. Each building has its own basement, septic systems, heating systems, and electric meters; and could provide $2,700.00 a month rental income with tenants paying their own utilities for each building. Situated on a surveyed 0.406 lot; this property has potential to connect to the city water line, and the alpine sewer septic line. Nice off street parking accommodates both buildings; and a large neon sign is available for tenants use. Over $40,000.00 of documented improvements have been made to subject property since 2015 which includes new vinyl siding, new roof, interior and exterior painting, new back stairs, new window, new exterior lights, new oil tank in one of the buildings, and the list goes on! This property could provide $32,400.00 a year in rental income, and after current annual insurance and property taxes expenses of $7,976.88; that leaves an investor $24,413.12 to cover the mortgage and provide a positive net income. Included in the Sales Price of $350,000.00 is the Real Estate, Appliances located in each Building; the Large Exterior Neon Sign, and the Exterior Non-Neon Wood Frame Sign. This well maintained property is an exceptional investment opportunity given its high demand location! Bank Financing Required. No Brokers Please.

ADDITIONAL DATA ON SUBJECT PROPERTY:

Well Maintained Commercial/Multi-Use Property located at 261 Woodstock Ave, (911 Address: 43 & 43B Woodstock Ave), in Rutland, VT 05701. Subject property is located on 0.406acre+/- and consists of two separate detached buildings with basements; each with their own septic system; each with their own heating systems; and each with their own electric meters. Building 43B could be rented at $1,300.00; and Building 43 could be rented at $1,400.00 a month, with both building tenants paying their own utilities. Each Building shares a nice paved off street parking lot to provide adequate parking for both buildings both buildings. Over $40,000.00 of improvements has been made since 2015 to subject property and buildings.

Property Taxes: $5,321.04

Assessed Real Estate Value: $308,700.00 - (Assessment was last done and paid for by the Town of Rutland in 2009, prior to all improvements from 2015 forward)

Lot: 0.406 - (Surveyed Lot)

Septic: - 43 Building Septic – 1000 gallon tank with leach field
43B Building Septic – 1000 gallon tank with leach field
**both septic tanks will be pumped out prior to closing at seller’s expense**

Heating System: - Heat 43 Building – oil hot water baseboard & wood pellets
Heat 43B Building – oil hot air
Each Building Meets Current VT Laws For Heating Fuel Tanks

Water Supply: Drilled Well: - Property has deeded rights to a well located on adjacent property. A water test was done in September 2018, and water is potable.

Bathrooms: - 43 Building – 1 full bathroom and 1 half bathroom
43B Building – 1 full bathroom and 1 half bathroom

Square Feet: - 43 Building - 1,400 square feet of rental space available
43B Building – 1,300 square feet of rental space available

Subject Property: - Has Potential To Be Hooked Up to City Water and The Alpine Septic That Is Available Along Route 4 in front of the Subject Property.

Age: Original Home with two gar garage was built in the 1950’s. An addition was put on in 1962 which included renovations to the kitchen with hand made birch cabinets built directly into the walls, and an extra bedroom was added; along with a breezeway that attached to former two car garage. In 1970, the 43B building was transformed into a commercial building and housed a real estate company until 2004, when it then became a rental building for current owner/seller. In 1977, the two gar garage was totally gutted and the 43 Building was built, and turned into a commercial rental building.

Annual Property Insurance Expense: $2,655.84

Annual Heating Expenses: 43 Building - $1,347.00
43B Building - 2017 - $1,160.14 - 2018 Jan thru Sept - $1,176.11

Annual Electric Expenses: 43 Building - $757.00
43B Building - 2017 - $770.49 - 2018 Jan thru Sept - $558.31

The Price of $350,000 includes all real estate. Bank Financing Required!

Detailed Information

Location:
Rutland Town, VT
Type:
Office
Building Status:
Established
Facilities:
Two separate detached building that can be rented out for office or retail space.
Reason for Selling:
RETIRING
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(from currently available funds)
 
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Mark Benetatos

Property Listed By:
Mark Benetatos

White Birch Realty, LLC

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