Rare commercial property with two hundred feet of frontage on Route 100 in Warren, in the beautiful Mad River Valley minutes from Sugarbush Resort. This property works for an owner/operator or an investor. The property should rent for at least $3, 000 per month, triple net (prior tenant paid $2, 800 per month, which was not raised in over five years). While this area is zoned residential, this property is grandfathered for vehicle sales and repair. Town would consider other uses with comparable impact, such as property management (which was recently approved on a similar property). Lot size is . 6 acres and consists of two buildings and a large paved lot. There’s a small building, generally used as an office, measuring 432 square feet and containing a three quarter bath and a storage room. A separate garage building is 875 square feet and includes a two post automotive lift and an air compressor. Both buildings are heated with propane and are air conditioned. The buildings were originally built around 1980 but were completely rebuilt and extensively insulated in 2002, including new walls inside and out (exterior siding is cedar), new roofs, new plumbing, new wiring including breaker panels, and several exterior lights on light sensors and motion detectors. The property is in excellent condition having just been repainted inside and out. Owner is related to real estate broker.
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William Raveis Real Estate
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William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $320,000 | $320,000 | $320,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.276% |
Monthly Tax Payment | $298 | $298 | $298 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,183 | $2,127 | $2,699 |
Total Monthly Payment | $2,556 | $2,500 | $3,072 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.