463 Mountain View, Colchester, VT

Office for Sale
Catylist Listing ID: 30360711
Property Subtypes: Office Building
Building Size (RSF): 65,760 SF
Gross Building Area: See Agent
Sale Price: $8,500,000
Unit Price: $129.26 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class A
Sale Terms: Other
Cap Rate: Undisclosed
Last Updated: 2/5/2019

Overview / Comments

Owned and developed by Park Place Associates, 463 Mountain View Drive has been the home to Engelberth Construction, one of the areas largest commercial contracting companies since its construction in 1990. Situated at the crest of Mountain View Drive in The Office Park at Water Tower Hill, this four story office property provides a grand lobby, on site fitness center with accompanying locker facilities, two elevators, updated mechanicals, ample on site parking while tenants enjoy breathtaking views of Lake Champlain, the Green and Adirondack Mountains.
Over the last two years the ownership has renovated both inside and out while securing new long term tenants that have included several high end renovations and refinishing of upper level office suites, bathroom cores, addition of an on-site gym, repaving and curbing of parking areas, and more.
The building measures over 63,000 square feet spread over 4 levels while situated on 4.25 ± acres of land with frontage measuring 694+ feet along Mountain View Drive, and 370+ feet along West View Drive. There are 220 on site surface parking spaces.
Recent renovations and tenant fit ups on 3rd and 4th floor created beautiful modernized office suites, upgrades to bathroom cores on 3rd and 4th floor, mechanical and parking surface upgrades are all upgrades to the buildings core and lease spaces that a new buyer will benefit from.

Attachments & Media

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $175,850 (Annual)

Additional Details

Nearest MSA: Burlington-South Burlington
County: Chittenden
Tax ID/APN: 1
Zoning: COMMERCIAL

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,931 51,847 91,086
Median Age: 29.92 31.02 34.36
Households: 2,275 19,540 36,658

Contact

© Copyright 2001-2018 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither New England Commercial Property Exchange nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.