108 Northside Dr
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108 Northside Dr
6,000 SF 100% Leased Retail Building Bennington, VT 05201 $2,934,000 ($489/SF) 6% Cap Rate
Executive Summary
Atlantic Capital Partners is pleased to present for sale the newly constructed Starbucks located at 108 Northside Drive in Bennington, Vermont. This 2,400 SF build-to-suit prototype is scheduled to open for business in Q4 ’24. The property is strategically situated at the intersection of Northside Drive and U.S 7 and sits within a dense retail node that features national retailers such as Walmart, Ocean State Job Lot, Hannaford, and Home Depot. The site benefits from excellent visibility and strong local demographics.
Starbucks committed to a newly casted 10-Year Lease, with four five-year renewal options. The lease includes 10% rent escalations through the initial term, and at the start of each option period, with a current annual rent of $176,000. This investment combines the advantages of new construction, limited landlord responsibilities, and a stable, long-term passive income stream.
Starbucks committed to a newly casted 10-Year Lease, with four five-year renewal options. The lease includes 10% rent escalations through the initial term, and at the start of each option period, with a current annual rent of $176,000. This investment combines the advantages of new construction, limited landlord responsibilities, and a stable, long-term passive income stream.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Auto Dealership
Building Size
6,000 SF
Building Class
C
Year Built
1947
Price
$2,934,000
Price Per SF
$489
Cap Rate
6%
NOI
$176,040
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
1.10 AC
Zoning
Planned Commercial
Parking
95 Spaces (15.83 Spaces per 1,000 SF Leased)
Frontage
286 FT on Northside Drive
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | (015)36-51-57-00 | Improvements Assessment | $125,500 |
| Land Assessment | $485,000 | Total Assessment | $610,500 |
PROPERTY TAXES
Parcel Number
(015)36-51-57-00
Land Assessment
$485,000
Improvements Assessment
$125,500
Total Assessment
$610,500
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108 Northside Dr
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