Exceptional opportunity to acquire a fully renovated mixed-use investment property in Downtown Burlington. Extensively redeveloped and repurposed in 2021, the property underwent a comprehensive renovation including major improvements to the roof, exterior, mechanical systems, interior spaces, and residential units, creating a turnkey asset with multiple income streams.
The property features two commercial suites, with the lower-level commercial tenants recently committing to new three-year leases, providing stability to the commercial component of the investment.
The residential portion consists of an established and fully operating four-unit Airbnb business, including three 2-bedroom/1-bath units and one studio unit. The short-term rental units are being offered fully furnished, with the existing furniture included in the sale, providing a new owner the opportunity to continue operations without the significant upfront cost and time associated with furnishing and establishing four individual units.
According to the Seller, the property currently generates approximately $185,000–$200,000 in annual NOI across the commercial and short-term rental operations. Despite the strong existing income, ownership believes there remains meaningful value-add and revenue growth potential through continued optimization of the Airbnb operation, occupancy, nightly rates, and overall management.
With the substantial redevelopment already completed, established commercial tenancy, operating short-term rental business, and multiple diversified income streams, 256 E. Chestnut Street presents a unique opportunity to acquire a renovated mixed-use investment property with both strong in-place income and future upside potential.
Investment Highlights: Fully gutted and redeveloped within the past five years • Two commercial suites • New three-year commercial leases • Four established Airbnb units • Three 2BR/1BA units + one studio • Airbnb furniture included in sale • Approximately $185,000–$200,000 NOI per Seller • Multiple income streams • Significant value-add potential • Major capital improvements already completed