State of Vermont Anchored — Sale in Barre, VT

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Office
  • Location: Barre, VT 05641
  • Year built: 2014

Photos

State of Vermont Anchored — Sale in Barre, VT, photo 1 of 4
State of Vermont Anchored — Sale in Barre, VT, photo 2 of 4
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State of Vermont Anchored — Sale in Barre, VT, photo 4 of 4

Investment Figures

Cap rate
7.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Institutional Property Advisors is pleased to exclusively present Barre City Place, 219 North Main Street, a 100 percent leased, 80,423-square-foot, four-story office building constructed in 2014 in downtown Barre, Vermont. The State of Vermont (Fitch AA+) occupies 90.4 percent of the building for the Agency of Transportation through April 2042, with 2.75 percent annual increases and one ten-year renewal option. The RehabGYM, a physical therapy and rehabilitation practice in occupancy since 2013, leases the balance through November 2028. Offered at $10,952,000, a 7.00 percent cap rate. Investment Highlights: • State of Vermont (Fitch AA+) Anchors 90.4% of the Building for the Agency of Transportation Through April 2042 • 2.75% Annual Rent Increases on Both Leases, Plus a 10-Year Renewal Option on the State Lease • 100% Leased With a 14.4-Year Weighted Average Lease Term

Market Context

This office in Barre, VT is listed for sale. It is offered at an approximate 7.0% capitalization rate, a key benchmark for income-producing office assets. The building dates to 2014. Compare it against other office listings for sale in Barre, VT — view the full market.

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