89 Main St - Medical FOR SALE


Montpelier, VT 05602
$13,900,000 USD
802-777-0732
89 Main St, Montpelier, VT for Sale
$13,900,000 USD
Medical - FOR SALE
1/31
null | 8.02% Cap Rate

89 Main St
Montpelier, VT 05602


HIGHLIGHTS

  • Center of town location
  • Several long term tenants
  • Attached parking garage

OVERVIEW

Located at 89 Main Street, City Center is prominently situated in the heart of downtown Montpelier, Vermont’s capital city. This mixed-use commercial property enjoys a prime Main Street location within walking distance of government offices, shops, restaurants, and the Vermont State House. The multi-story office and retail complex offers approximately 90,000 square feet of space, along with an attached 105 car parking garage and multiple long-term State of Vermont and government leases. As a cornerstone of downtown Montpelier, City Center provides tenants and visitors with convenient access to numerous local amenities, including banks, the public library, a movie theater, and a variety of dining and shopping options. Over the past decade, City Center has undergone extensive renovations across the majority of its suites, resulting in modernized office spaces thoughtfully designed to meet the needs of today’s post-pandemic workforce. In the last five years alone, total capital improvements have exceeded $2.4 million, underscoring a strong commitment to long-term quality and tenant experience. Constructed on a concrete pedestal 4 feet above street level with no basement, the building demonstrated exceptional resilience during the 2023 Montpelier floods, serving as a vital hub in the city during a time of crisis. The upper floors have been converted into office space supported by longterm leases, while the lower levels feature a dynamic mix of retail, office, and restaurant uses. With a 97% occupancy rate and frequent showings, City Center is one of Montpelier's most sought-after properties!

FOR SALE DETAILS

PRICE

$13,900,000 USD

PRICE/SF

$154 USD /SF

CAP RATE

8.02%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

City Center Montpelier

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

2

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,143 SF

ZONING

Commercial

APN/PARCEL ID

405-126-10649

ASK ABOUT THIS PROPERTY

Jaeger NeddeNedde Real EstateMore Info
802-777-0732

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Jaeger NeddeNedde Real EstateMore Info
802-777-0732

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