Eastview Place | 2418 Airport Rd
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Eastview Place 2418 Airport Rd
34,692 SF 100% Leased Office Building Barre, VT 05641 $6,039,770 ($174/SF) 8.07% Cap Rate
Investment Highlights
- Upside Potential
- Net Leases
- E-Commerce Resistant Investment
- Scheduled Rent Increases
- Strategic Location
Executive Summary
Horvath & Tremblay is pleased to present the opportunity to purchase Eastview Place, a medical and professional center located at 2418 Airport Road and 58-82 E View Lane in Barre, Vermont (the “Property”). The Property is comprised of three freestanding, two-story medical and professional buildings, that contain a total of 34,692 square feet on a well-maintained and well parked 3.18-acre parcel of land. Eastview Place is 83.65% occupied by seven tenants and contains two vacant units totaling 5,672 square feet which offer significant upside through lease-up. Positioned along Airport Road, the Property benefits from its central location just off VT Route 62, with close and convenient access to US Route 302 and Interstate 89. Eastview Place is across the street from the Edward F Knapp State Airport and is strategically positioned in between downtown Montpellier and downtown Barre, both approximately 5-miles away. The Properties also offer convenient access to northern Vermont’s other cities including Burlington and St Johnsbury, as well as Lebanon, NH at the confluence of Interstates 89 and 91.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
34,692 SF
Building Class
B
Year Built
2000
Price
$6,039,770
Price Per SF
$174
Cap Rate
8.07%
NOI
$487,563
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
17,346 SF
Building FAR
0.25
Land Acres
3.18 AC
Zoning
C - Commercial
Parking
53 Spaces
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Eastview Place | 2418 Airport Rd
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