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Listed by David Raphael • Artisan Realty of Vermont
$975,000
Est. payment /mo
0.82 Acres Lot
Active
120 Hegeman AVE Colchester, VT 05446
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5080240
Year Built 1898
Annual Tax Amount $16,267
Tax Year 2526
Lot Size 0.820 Acres
Acres 0.82
Property Description
Fantastic investment opportunity with significant upside potential. Fort Ethan Allen Mini Storage is a well positioned, 126 unit self storage facility made up of three buildings in a highly accessible location. The primary brick building totals approximately 15,224 SF and offers a mix of climate controlled and non climate controlled units on both the first and second floors, providing flexible options for a variety of tenant needs. A local church currently leases gathering space in this building under a lease running through October 2030, providing stable income. Historically, many of the climate controlled units have been leased as both storage and office spaces, creating diversified revenue streams. Two additional metal buildings, totaling approximately 2,646 SF and 2,200 SF, contain 47 self storage units with roll up doors and direct drive up access, which are highly desirable for tenants seeking convenience and ease of loading. Inside the complex, there are currently two larger spaces that could be reconfigured to increase both the unit count and gross rentable area, offering a clear path for future income growth. One unused area, already served by a garage door, is ideally suited for a contractor or user needing dedicated drive up access. Operations are streamlined through modern online self storage management software, allowing for efficient leasing and rent collection. The asking price reflects a 6.6% cap rate, making this an attractive option for investors seeking stable cash flow with room to grow.
Location
State VT
County Vt-chittenden
Area Vt-Chittenden
Zoning Commercial
Interior
Cooling None
Inclusions Land/Building, Land/Building/Business, Building
Exterior
Utilities Available Gas On-Site
Roof Type Slate
Building
Sewer Public
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