38 South Main StreetSt. Albans City, VT 05478MLS Number 4894996

  • Sale Price: $1,200,000
  • 153 Days Since Sale
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Federal 30-year interest rate: 7.22% last updated on Nov 30, 2023
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38 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 0547838 South Main Street St. Albans City VT 05478
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  • 0.37Acreage
  • 1900Year Built
  • 12,454Square Feet

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Listed by Leigh Horton of Your Journey Real Estate

Listing Sold by 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. Seller financing available.

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More Info

Basic Information

  • PermissionAerials, Lease Agreements

Building

  • Year Built1900
  • ConstructionWood Frame
  • NumberOfUnitsInCommunity9
  • FoundationBlock, Concrete, Poured Concrete, Stone
  • Square Feet12,454
  • Available Sqft12,153
  • BasementConcrete Floor, Full, No Tenant Access, Partially Finished, Stairs - Exterior, Stairs - Interior, Interior Access, Stairs - Basement
  • Garage Spaces

Exterior

  • ExteriorBrick
  • RoofCorrugated, Membrane, Metal, Shingle - Asphalt

Legal

  • Taxes$14,515.56
  • NOI91672
  • OtherStructuresLand/Building
  • ZoningLT, COMM

Tax Information

  • Tax Year2022

Location

  • Building Number38
  • StreetSouth Main Street
  • TownSt. Albans City
  • StateVT
  • Zip05478
  • CountyFranklin

Property

  • Acreage0.37
  • Parking Spaces
  • Property TypeCommercial Sale
  • Area
    • Business District
    • Commercial Zoning
    • Historic District
    • In Town
    • Near Public Transportatn
    • Near Shopping
  • Lot Sqft16,117

Amenities

  • PricePerSqFt96.35

Other

  • Transport AccessCity Street, Paved
  • Date Listed01/11/2022
  • View Count20

Basic Information

  • StatusSLD
  • Modification Date07/07/2023
  • TypeBusiness, Investment, Office, Other
  • List Price$1,200,000
  • Broker NameYour Journey Real Estate
  • Listing Agent NameLeigh Horton
  • Lister Office NameYour Journey Real Estate
  • Seller Office NameYour Journey Real Estate
  • Selling Agent NameLeigh Horton
  • MLS Number4894996
  • MLS StatusClosed

Utilities

  • FuelGas - Natural
  • Heating CoolingHeat Pump, Hot Air
  • Phone CompanyComcast

Your Local Office

Brian French Real Estate

Brian French Real Estate

(802) 862-6433
1993 Williston Road,
South Burlington, VT 05403
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Copyright 2023 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. 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 December 6, 2023 11:08 PM EST

 

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