19 Morrisville Plz - Storefront FOR SALE


Morristown, VT 05661
$12,000,000 USD
860-649-4800
19 Morrisville Plz, Morristown, VT for Sale
$12,000,000 USD
Storefront - FOR SALE
1/8
null | 7.56% Cap Rate

19 Morrisville Plz
Morristown, VT 05661


HIGHLIGHTS

  • Fully Occupied 104,380 SF Shopping Center. Majority of Tenants are National or Regional Credit Tenants.
  • Shadow to adjcent Price Chopper Supermarket
  • Strategically situated in the "Busines Center" of Lamoille County Vermont - 7 Miles north of Stowe
  • Four long term tenants iin free standing buildings nclude McDonalds, Kinney Drug, TD Bank and M&T Bank
  • 76,417 SF Main Plaza includes Big Lots, Marshalls, Dollar Tree, Lamoille Health, Green Mountain Holistic Healing and House of Davy Gormet Foods
  • Project NOI for 2028 to esceed $1,000,000. Priced well below replacement cost at less than $115 per SF.

OVERVIEW

Vibrant 104,380 sq. ft. Shopping Center adjacent to modern Price Chopper grocery store. Sitated in the commercial hub of Lamoille County Vermont, approximately 7 miles north of Stowe. 100% current occupancy with substantial long term National & Regional Credit Tenant Base. Four Free Standing Buildings include McDonalds, Kinney Drub, TD Bank and M&T Bank. Main Plaza contains +/- 76,417 SF with 6 Tenants including Marshalls Department Store, Big Lots, Dollar Tree, Green Mountain Holistic Healing, Lamoille Family Health (Dentistry) and House of Davy Gourment Foods. Current NOI of $907,023 is projected to be over $1M by 2028 (Based on scheduled increases and option renewals). Big Lots has historical strong sales at Morrisville Plaza and has recently ratified & extended its current lease through 2030 and added a third 5-year renewal option which would extend its lease thru 2045. Priced well below replacement cost at less than $115 per SF.

FOR SALE DETAILS

PRICE

$12,000,000 USD

PRICE/SF

$3,247 USD /SF

CAP RATE

7.56%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

M&T Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

10.3 AC

LAND SF

448,687 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Thomas BoyleChozick Realty Inc.More Info
860-649-4800

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Thomas BoyleChozick Realty Inc.More Info
860-649-4800

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