St. Johnsbury, VT | 1229 Portland Street

Description

Established commercial investment opportunity featuring an approximately 14, 835-square-foot finished office building on 5.515 commercial acres. Located about one mile from the center of bustling St. Johnsbury and just minutes from Interstates 91 and 93, the property provides easy access throughout the region. The site has two entrances, two separate parking areas, and approximately 23, 000 square feet of paved area. The size and layout of the lot may also offer potential for additional development, subject to state and local approvals. The lower level offers 18 offices, a large training classroom, server room, two utility rooms, three bathrooms, a kitchen, and separate break room. The upper level, which was recently renovated and updated by the tenant, includes 19 additional offices, a conference room, two storage areas, three bathrooms, a kitchen, and reception area. The property generated $317, 898 in gross rental income during 2025 and offers a potential cap rate of approximately 19%, based on seller-provided income and operating expenses. The annual rent recently increased by 3% to approximately $332, 274, or $27, 689 per month. The current lease extends through July 31, 2029, includes annual CPI-based rent increases capped at 3%, and gives the tenant an additional five-year renewal option. The tenant currently pays for utilities, heat, water, sewer, landscaping, snow removal, and other property services. With strong existing income, 37 offices, extensive paved parking, excellent interstate access, and future development potential, this is a unique commercial investment opportunity. Income, expenses, NOI, cap rate, square footage, development potential, and lease information are based on seller-provided and municipal records. All financial information is subject to buyer verification.