219 Lake Street St. Albans City, Vermont 05478 MLS# 5001835

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For Sale Status

$1,500,000 List Price

Multi Type

16 Beds

8 Baths

14,856 Sqft

Listed By Kevin Holmes of Blue Slate Realty
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Franklin County

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Great Investment Opportunity. This mixed-use building is located in St Albans City close to local employers, shopping, restaurants, and community resources. The building consists of 8 two bedroom apartments on the second and third floors and 2 operating businesses on the ground floor. Full basement provides great storage space plus an on-site coin operating laundry room. The building has been family owned for decades and has been kept in great shape with many recent improvements. The first floor business space currently leased by Spectrum Youth Drop-In Center was fully renovated in 2020 including a kitchen, ADA bathroom and office spaces. The apartments have been updated as turned over including two with new heaters in 2023-2024. The back of the building was enclosed in 2022 including new windows, vinyl siding and LED lighting. Extensive brickwork was completed on the westside of the building in 2024. Main roof was repaired in 2024 and the rubber membrane roof on the lower portion was replaced in 2018. Large parking lot in the back provides off-street parking for the residents and businesses. This investment property would bring immediate income as well as the potential to grow ROI quickly. Commercial Listing #5001847

Property Location

219 Lake Street St. Albans City

Property Details

List Price  1,500,000 Bedrooms  16 Garage Size   Car
Cooperation Fee  Unknown Total Bathrooms  8 Year Built  1900
MLS#  5001835 Lot Size  0.33 Acres Taxes $4,766
Type  Multi-Family Days on Market  25 Days Tax Year 2023
Units  8 Stories  3 Road Frontage  102
Annual Income  $0 Style   Water Frontage  
Annual Expenses  $0 Finished  14,856 Sqft Construction  No, Existing
Zoning   Commercial Above Grade  14,856 Sqft Seasonal  No
Total Rooms  16 Below Grade  0 Sqft List Date  Jun 21st, 2024
Gross Income  $0 Operating Expenses  $0 Net Income  $0
Expenses Includes 
Unit 1   2 Beds, 1 Baths, 900 SqFt, $0/Monthly Unit 2   2 Beds, 1 Baths, 900 SqFt, $0/Monthly
Unit 3   2 Beds, 1 Baths, 900 SqFt, $0/Monthly Unit 4   2 Beds, 1 Baths, 900 SqFt, $0/Monthly
Unit 5   2 Beds, 1 Baths, 900 SqFt, $0/Monthly Unit 6   2 Beds, 1 Baths, 900 SqFt, $0/Monthly
Unit 7   2 Beds, 1 Baths, 900 SqFt, $0/Monthly Unit 8   2 Beds, 1 Baths, 900 SqFt, $0/Monthly
Construction
BasementInterior, Storage Space, Concrete, Interior Access, Storage Space
Interior Features
Exterior Features
Exterior   Disability Features  
Foundation  Poured Concrete House Color  
Floors   Building Certifications  
Roof  Membrane, Flat HERS Index  
DirectionsFrom I89 take exit 19 to Main St. Right onto Main and at third street light, left onto Lake St. About .4 mile on the right. Property on corner of Lake and Spruce Street.
Lot Description, Near Railroad, Near Bus/Shuttle
Garage & Parking  No, Unpaved, On Site, 5-10 Spaces
Road Frontage  102 Water Access  
Driveway  Gravel Water Type  
Flood Zone  No Water Body  
Zoning  Commercial
School District  Maple Run USD Middle  St. Albans City School
Elementary  St Albans City School High  BFASt Albans
Heat Fuel   Excluded  
Heating/Cool  Other, Vented Gas Heater Negotiable  
Sewer  Public Parcel Access ROW  
Water   ROW for Other Parcel  
Water Heater   Financing  
Cable Co   Documents  
Electric  Circuit Breaker Tax ID  549-173-01037
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† The remarks published on this webpage originate from Listed By Kevin Holmes of Blue Slate Realty via the PrimeMLS IDX Program and do not represent the views and opinions of Coldwell Banker Hickok & Boardman. Coldwell Banker Hickok & Boardman cannot be held responsible for possible violations of copyright resulting from the posting of any data from the PrimeMLS IDX Program.