Retail

Tops Markets - Rutland, VT

12 N Main St Rutland, VT United States 05701-3245
Asking Price S$4,331,000
Sq. Footage 27,000
NOI Net Operating Income S$335,700
Cap Rate 7.75%

Attributes

Year Built 1958
Lot Size 1.82 ACRES

Property Description

JLL is pleased to offer for sale the fee simple interest in a single-tenant supermarket (the “Property”, or “Asset”) located in Rutland, VT.

The Property is leased to Tops Markets, a regional supermarket operator with 159 locations throughout Vermont, New York, and Pennsylvania. The tenant’s net lease structure offers minimal landlord responsibilities and features contractual rental growth in the primary term and the one, five-year renewal option. Tops Markets recently extended its lease through January 2029, reflecting its successful sales history and long-term commitment to this location. Positioned along Main Street/US Highway 7, the Property sits within Rutland’s most highly-trafficked thoroughfare, with 26,000 cars passing on a daily basis. This offering presents the opportunity to acquire a property with a high-performing and committed tenant, contractual rent growth, and minimal landlord responsibilities.


Investment Highlights

  • Committed tenancy with long-term operating history and recent lease renewal through January 2029
  • Leased to Tops Markets, one of the largest super market operators in the northeast with 159 locations and $2.6 billion in annual revenue
  • Net lease structure with below market rent, minimal landlord responsibilities, and contractual rental increases
  • High-performing location with liquor store and sales growth of 12% since 2012
  • Located along main retail thoroughfare that sees traffic counts of 26,000 vehicles per day
Nicholas Kanich
Nicholas Kanich
SVP, Capital Markets
Licensed in
IL - 475147401
Nat Heald
Nat Heald
EVP, Capital Markets
Licensed in
MA - 9088276

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