Spectacular Retail/Commercial Real Estate (Retail, Antique Shops/Dealers; Retail, Candy Stores; Retail, Country/General Stores; Retail, General Merchandise Stores; Retail, Gourmet Shops; Retail, Jewelry Stores; Retail, Miscellaneous Retail)
Quechee - Vermont, Windsor
| Seller Financing: |
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| Lender Pre-Qualified: |
Yes |
| Listing ID: |
69830 |
| Status: |
Active |
Listing Details
| Listed Price: |
$6,400,000 |
| Down Payment: |
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| Total Sales: |
$473,537 |
| SDE: |
$446,733 |
| EBIT: |
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| EBITDA: |
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| FFE: |
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Included? |
| Real Estate: |
$6,400,000 |
Included? Yes |
| Inventory: |
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Included? |
| A/R: |
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Included? |
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| Reason for Sale: |
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| Training: |
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| Financing Terms: |
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Operations
| Year Established: |
1985 |
| Last Acquired: |
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| Form of Ownership: |
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| Home Based: |
No |
| Relocatable: |
No |
| Type of Location: |
Open Mall |
| Absentee Owner: |
Yes |
| Online: |
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| Employees: |
Full Time: / Part Time: 1 |
| Managers: |
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| Hours: |
9-5 Sun-Sat |
| Owner Hours: |
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| Non-Owner Payroll: |
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| Franchise Info: |
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Location
| Lease Expire: |
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| Option: |
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| Lease Terms: |
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| Lease Security: |
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| Monthly Rent: |
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| Square Footage: |
42300 |
| Facilities: |
NNN investment opportunity. This flagship retail complex consists of 4 buildings, 42,300 SF on 8.66 acres zoned for retail and commercial uses. Operating as a destination, retail oasis for tourists and seasonal family visitors, property traffic is continually nurtured through a robust offering of events including entertainment (carousels, train rides and toy museum), flea markets, fairs, etc. These events contribute to heavy retail traffic and also offer a supplemental revenue stream. There is a paved parking area immediately off the state highway and in front of the buildings that accommodates over 250 cars. There is also ample overflow parking available during peak volumes. In addition, there is an abutting lot of 10 acres suitable for further retail/commercial development optionally available for $650,000.
Location Description:
Located on State Highway Route 4, with over 1,400 ft of frontage, the property is conveniently located less than 3 miles from I89 and approximately 5 miles from I91 making it highly accessible to tourists and seasonal residents arriving from either Boston or NYC. Located directly on the main road from I89 to the Killington ski area, the Vermont Agency of Transportation estimates annual daily traffic at 9,600. In addition to a brisk winter influx, the busiest retail season is generally summer & early fall. Characterized as one of the most significant tourist areas in Northern New England, this is truly a year-round market. A major state park is situated less than 1 mile away, with several golf courses also nearby.
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Summary
| Business Description: |
* 100% current occupancy, with a long history approaching 100%
* Property has become a retail destination for both tourists and seasonal residents
* Natural appeal of the region and abundance of recreational opportunities consistently draw shoppers
* In place leases with scheduled increases and 100% recovery of CAM expenses forecast excellent future
and strong financial performance.
* Tenants pay prorated monthly fees for joint advertising and security system services.
* Ideal 1031 exchange
* Opportunity to build additional 16,000 SF on current property
* Opportunity for dramatic expansion (optional adjoining 10 acres for $650,000)
* Opportunity to create additional revenue generating space with tenants in the basement
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| Historical Summary: |
Close to 100% occupancy |
| Owner Qualifications: |
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| Competition: |
None |
| Potential Growth: |
Build additional 16,000 sf on existing property. Dramatic potential expansion with optional 10 acre lot adjoining ($650,000). |
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