5 Commons Street , C-5

Description

This 1,470.5 sq. ft. Professional Office Condominium is conveniently located within walking distance of the hospital for likely medical office use or other professional services business. Offered FOR SALE at $154,500 (more than 15% below city appraised value!), or FOR LEASE (asking Rent: $12.00/sf, or $1,470.50/mo., NNN). Net expenses are estimated at about $800/mo., plus heat & elect. The shared basement allows for a good amount of storage space, not included in the sq. ft. stated above. There is ample parking for both staff and patients/clients. The Allen Street Commons Condominium Complex is one of the most desirable in the City of Rutland, and tends to command well above average office lease rates and sale prices per sq. ft. Owners have made available a complete Sellers Property Information Report, which includes helpful information on major components and systems, with comments on past work by various contractors. Unit has a short-term lease expiring in Sept. 2020, but Owner and that tenant welcome the ability to negotiate an earlier termination in favor of a buyer or lessee upon terms similar to or better than those of current lease.