25 - 29 Center Street, Rutland, VT 05701

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Ray A.

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Building Details:

• Year Built: 1900

25 - 29 Center Street is aretail property for lease in Rutland, VT.

3-Story Brick Commercial Block, adjacent Downtown Parking Garage & Transit Center, across from Paramount Theater,...with well-lit 10 ft.-wide enclosed walkway through subject bldg leading between them. Of the 13.460 sq. ft., 8,960 sq. ft. is finished area on the 1st and 2nd floors, with the balance of 4,500 sq. ft. being unfinished 3rd floor area (ideal for renovation into loft apartments?). The elevator serving 3 floors needs repairs estimated at $20,000+ to make operable.
Tenant Mix:
1st Floor: Hawley's Florist, Frogs & Lily Pads
2nd Floor: A. M. Peisch, Accountants, Ted Robare, Law Office
There is a full basement, used for storage,...not included in the bldg square footage calculations. 6.8% CAP Rate is based upon current 100% occupancy. That drops to 4.6% using a market vacancy rate of 10%.

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