Springfield VT For Sale 368 River Street

List Price:$$800,000
Commercial Property
Price Change! reduced by $350,000 down 44% on March 4th 2025
| $26 sqft
368 River Street Springfield VT | Space type Free Standing Building,Office Building,Retail Strip,Self Storage
MLS# 4910367
Listed by William Johnson Big Green Real Estate on May 17th 2022
DESCRIPTION
GREAT INVESTMENT PACKAGE--100% occupancy, recent needed siding work and HVAC upgrades completed, good condition, low maintenance (roof replaced 2018-19), town water and sewer, great parking, with potential for additional income. This 1-story building currently offers 12 office/retail units, plus 38 storage units at the basement level. Net income based on 2024 income and expenses approx. $104,960, projected to be higher in 2025 due to full occupancy. Basement has a drive-in, garage door access, with room to add additional storage units. Building has a truss roof frame, which would allow floorplan alterations if needed. With room for additional basement storage units, it makes this investment prospect even more attractive. Leases are a mix of partial net and gross rents. Tenants are a mix of primarily professional offices. There are 10 propane-fired HVAC units and 9 total electric services, but not all zoned specifically for individual units, as the floorplan has changed over time. Seller will consider only PREQUALIFIED OR APPROVED BUYERS, and buyers should be prepared to offer a satisfactory financial statement/proof of funds.
Disability Features : Accessibility Features | Hard Surface Flooring | No Stairs | No Stairs from Parking | One-Level Business | Paved Parking | Zero-Step Entry Ramp

Sale Includes : Land/Building
Management Expense-| $0
Insurance Expense -| $0
Net Income| 104960
Gross Income| 178975
Price per SQFT | 25.68
CONSTRUCTION
Wood Frame | Vertical Siding | Vinyl Siding | Wood Siding
Price Per SQ.FT. 25.68
Year Built: 1986
No. of Units-| 12
Basement: Concrete | Concrete Floor | Full | Stairs - Exterior | Storage - Assigned | Storage - Locked | Storage Space | Unfinished | Walkout | Exterior Access | Stairs - Basement
Building Type: Investment | Office | Opportunity | Retail
Roof: Shingle - Asphalt
Garage And Parking: Off Street | On-Site | Parking Spaces 21+ | Paved
Road Frontage: 200
Electric: Circuit Breaker(s)
Utilities: Cable | Cable - At Site
No. of Docks | 0.
AC % | 100.
LAND INFORMATION
Lot size: 1.12 acres
Zoned: "General Business")
Surveyed: Yes
SurveyedBy: William E. Drud
Flood Zone: No
Road Frontage: 200
ADDITIONAL INFORMATION
Transport Info: Near Airport | State Highway | Paved
Docs Available : Deed | Property Disclosure | Survey | Tax Map | Town Approvals
Taxes $18,104 | Assesed Value $511,800 in 2024

603-542-2503
112 Washington St. Claremont NH

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