For Sale
$8,759,470

244 Granger Rd Berlin, VT 05641

Net-leased medical buildings, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional investment opportunity presents two medical office buildings totaling 26,492 square feet on a 4-acre lot in Barre, Vermont. The property is 100% occupied under a net lease with Central Vermont Medical Center, a major healthcare provider serving central Vermont's 66,000 residents. The lease commenced March 31, 2009, and has a remaining term of approximately 4.4 years, with a 5-year renewal option. The tenant has consistently demonstrated commitment, recently exercising renewal options. The lease structure includes attractive 10% rent increases at the start of each renewal option, providing a hedge against inflation. Landlord responsibilities are minimal, as the tenant reimburses 100% of real estate taxes, insurance, and common area maintenance. The property boasts a strategic location just off VT Route 62, providing convenient access to US Route 302 and Interstate 89, and proximity to the Edward F. Knapp State Airport. Its central location between Montpelier and Barre, and convenient access to other northern Vermont cities and Lebanon, NH, further enhances its appeal. The property's location within a commercial district, near major retailers and other healthcare facilities, contributes to its strong investment potential. The area's demographics, including a substantial population within a 5-10 mile radius with high average household incomes, support the long-term viability of this e-commerce resistant investment. The asking price is $8,759,470, representing an 8.00% cap rate and a strong NOI of $700,758. This is a rare opportunity to acquire a stable, high-performing medical office property with significant upside potential.

Property Details for 244 Granger Rd

Property type
Retail properties, Office properties
Square Feet
26,492 SF
Year Built
2009
Buildings
2
Stories
2
Lot Size (sq. ft)
174,240 SF
Units
2

Location Insight

City
Berlin
County
Washington
State
Vermont
Latitude
44.2108096
Longitude
-72.5642186

FAQs

What type of property is this?
Retail property - Net-leased medical buildings, strong tenant.
Where is the retail property located?
The property is located at 244 Granger Rd Berlin, VT.
What is the asking price?
The asking price for this property is $8,759,470.
How can I contact the broker?
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244 Granger Rd
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