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514 Farrell St
Burlington, VT 05401
Retail Property For Sale
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
This is a NNN full loaded leased property to Walgreens with a lease through 1/31/2036. The announcement to close this store will provide the new owner with an opportunity to work on re-tenanting plan while assuming and enjoying the low interest CMBS loan through 12/31/2029. The 15,682 SF first floor is prime retail space located at high traffic, high exposure, lighted intersection. A 10,658 SF second floor office area can be brought to market or redeveloped into high demand residential. Unusual chance to control a key corner on one of areas busiest retail corridors.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
26,482 SF
Building Class
C
Year Built/Renovated
1954/2010
Price
$16,547,160 CAD
Price Per SF
$624.85 CAD
Cap Rate
3.49%
NOI
$577,772 CAD
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
40 Spaces (1.51 Spaces per 1,000 SF Leased)
Frontage
200’ on Shelburne Road/Route 7
AMENITIES
- Drive Thru
PROPERTY TAXES
| Parcel Number | (188) 0670-00514 | Improvements Assessment | $7,513,013 CAD |
| Land Assessment | $0 CAD | Total Assessment | $7,513,013 CAD |
PROPERTY TAXES
Parcel Number
(188) 0670-00514
Land Assessment
$0 CAD
Improvements Assessment
$7,513,013 CAD
Total Assessment
$7,513,013 CAD
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