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33644199
33644198

118 Prospect Street, White River Junction, VT 05001 For Sale

CM
OH SAL.2014000892, OH #SAL.2014000892 (+1)
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Cleveland
$10,901,458
34 days on market
Updated 33 days ago

118 Prospect Street - Vermont Department of Veterans Affairs

Details
APN 285-090-14290
Property Type Office
Sub Type Government Office
Square Footage 88,200
Cap Rate 7.75%
NOI $844,863
Occupancy 95%
Tenancy Multi
Lease Type Modified
Price per SqFt $252
Class A
Year Built 2015
Buildings 1
Stories 4
Acreage 3.860
Zoning MULT
Investment Type Stabilized
Tenant Credit Credit Rated

Office | 7.75% CAP | 88,200 SqFt

Marketing description

Marcus & Millichap is pleased to exclusively present 118 Prospect Street | White River Junction, VT 05001. The multi-tenant, 43,200 square foot office building was constructed in 2015 and is leased to The State of Vermont and The Department of Veterans Affairs.

The Department of Veterans Affairs is committed to providing excellent care and benefits to more than nine million Veterans who served through periods of peace and conflict. The VA is the second largest Federal Department and has a workforce of more than 350,000 full-time employees. VA provides many types of care and benefits tailored to Veterans that are not available in the private sector. In addition to providing some of the best overall high-quality health care in the country. VA delivers exceptional care in polytrauma, spinal cord injury and rehabilitation, prosthetics, traumatic brain injury, post-traumatic stress treatments and other behavioral health programs. The VA also plays a critical role in preparing our Nation's doctor's and nurses - 70 percent of whom train at VA facilities. They also lead the Nation in innovation, with VA research having contributed to the first ever liver transplant, development of the cardiac pacemaker, advancements in treatments for PTSD, cutting-edge prosthetics, and many other medical breakthroughs.

Investment highlights

  • CREDIT TENANCY: State of Vermont (Fitch AA+), VA (Moody's: Baa2)
  • Over 350,000 Full-Time Employees Work for the VA
  • VA Has Over $381.71 Billion in Budgetary Resources
  • 43,200 SF State-of-the-Art Facility Developed in 2015
  • VA WRJ Provides Confidential Help for Veterans, Service Members and their Families at No Cost in a Non-Medical Setting
  • Lease Guaranteed by the United States of America
  • 5-MILE POPULATION: 29,949 | 5-MILE HH INCOME: $118,864

Listing Contacts

CM
OH SAL.2014000892, OH #SAL.2014000892 (+1)
Marcus & Millichap - Cleveland
Listed by Marcus & Millichap - Cleveland

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$844,863.00
$70,405.25/mo

Valuation Metrics

0
DSCR
7.75%
Cap Rate
7.75%
ROI

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Additional Information

Name
Jeffrey R. Nick
License
VT 81.0000142
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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