Morrisville Plaza for sale
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Morrisville Plaza for sale
6 Retail Properties Offered at $12,000,000 in Multiple Locations
Investment Highlights
- Fully Occupied 104,380 SF Shopping Center. Ten Total Tenants - Majority of Tenants are National or Regional Credit Tenants.
- 76,417 SF Main Plaza includes Big Lots, Marshalls, Dollar Tree, Lamoille Health, Green Mountain Holistic Healing and House of Davy Gormet Foods
- Four long term tenants in free standing buildings include McDonalds, Kinney Drug, TD Bank and M&T Bank, all of which are modifed NNN leases.
- Strategically situated in the "Busines Center" of Lamoille County Vermont - 7 Miles north of Stowe, VT - The "Ski Capital of the East Coast".
- Project NOI for 2028 to exceed $1,000,000. Priced well below replacement cost at less than $115 per SF.
- Shadow to adjcent Price Chopper Supermarket
Executive Summary
Vibrant 104,380 sq. ft. Shopping Center adjacent to modern Price Chopper grocery store. Situated in the commercial hub of Lamoille County Vermont, approximately 7 miles north of Stowe, VT. Ten Tenants - 100% current occupancy with substantial long term National & Regional Credit Tenant Base. Four Free Standing Buildings include McDonalds, Kinney Drug, 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 current lease 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. Substantial value add as leases rollover.
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. Substantial value add as leases rollover.
Property Facts
| Price | $12,000,000 | Number of Properties | 6 |
| Price / SF | $81.67 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 146,927 SF |
| Status | Active | Total Land Area | 25.64 AC |
| Price | $12,000,000 |
| Price / SF | $81.67 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 6 |
| Individually For Sale | 0 |
| Total Building Size | 146,927 SF |
| Total Land Area | 25.64 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Kinney Drugs
97 Morrisville Plaza, Morrisville, VT 05661 |
Retail | 10,460 SF | - | - |
| 66 Morrisville Plz, Morrisville, VT 05661 | Retail | 70,382 SF | 1990 | - |
|
M&T Bank
19 Morrisville Plz, Morristown, VT 05661 |
Retail | 3,697 SF | 1990 | - |
|
McDonald's
105 Morrisville Plz, Morrisville, VT 05661 |
Retail | 3,326 SF | - | - |
|
Price Chopper
370 Munson Ave, Morrisville, VT 05661 |
Retail | 53,626 SF | 1994 | - |
|
TD Banknorth
20 Morrisville Plz, Morrisville, VT 05661 |
Retail | 5,436 SF | - | - |
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