47 Executive Dr - Drug Store FOR SALE


Shelburne, VT 05482
$5,619,000 USD
312-548-6822
47 Executive Dr, Shelburne, VT for Sale
$5,619,000 USD
Drug Store - FOR SALE
1/8
null | 7% Cap Rate

47 Executive Dr
Shelburne, VT 05482


HIGHLIGHTS

  • Attractive Rent Increases
  • Minimal Management Responsibilities
  • Dynamic Tenant
  • Strategic Retail Location
  • Higher Education Presence
  • High Traffic Counts

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the single-tenant, Kinney Drugs located 47 Executive Drive in Shelburne, Vermont (the “Property”). Kinney Drugs has been at this location since it was constructed and has 6+ years remaining on their lease with two (2), 5-year renewal options. The lease calls for attractive 10% rent increases every five years throughout the primary lease term and at the start of each renewal option. The Property is situated on a highly visible corner parcel at the signalized intersection of Executive Drive, Bay Road, and Shelburne Road (US Route 7). Kinney Drugs enjoys outstanding visibility and frontage along Shelburne Road (US Route 7), the area’s primary commercial and commuter corridor. The Property is 0.5 miles from the shores of Lake Champlain, 2.3 miles from the center of Shelburne and 3 miles from a densely developed commercial district on the border of South Burlington and Burlington, VT. The Property is convenient to the area’s national and local retailers and restaurants, highways, area schools, and residential neighborhoods that drive traffic to the area and provide a built-in customer base. Shelburne is positioned in northwestern Vermont along the shores of Lake Champlain approximately 5 miles south of Downtown Burlington and the University of Vermont

FOR SALE DETAILS

PRICE

$5,619,000 USD

PRICE/SF

$485 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kinney Drugs

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.97 AC

LAND SF

85,813 SF

ZONING

-

APN/PARCEL ID

(183) 082-0047

ASK ABOUT THIS PROPERTY

Jack CollinsHorvath & TremblayMore Info
312-548-6822

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Jack CollinsHorvath & TremblayMore Info
312-548-6822

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.