***CLOSING TIMEFRAME IS 30 DAYS. PURCHASER SHALL HAVE TWO OPTIONS TO EXTEND CLOSING DATE BY 15 DAYS EACH, FOR A TOTAL CLOSING PERIOD OF 60 DAYS, AS SPECIFIED IN THE PURCHASE CONTRACT AND ADDENDUM.*** ***BIDDER DEPOSITS MUST BE PLACED ONLY BY WIRE TRANSFER OR CASHIERS CHECK OR PARTICIPATION AGREEMENT. CREDIT CARDS WILL NOT BE ACCEPTED.*** Investment Highlights: ±23,285 SF Tops Family Markets grocery-anchored retail plaza Long-term anchor tenant with in-place lease until 2034 Grocer reports strong sales and earnings at location Tops reimburses Landlord for pro rata share of capital improvements Limited Landlord responsibility Value-Add opportunity through lease-up of the available ±9,245 SF Investment Overview: 63 Plaza Drive (the “Property”) is a Tops Family Markets anchored retail plaza located in Northfield, VT. The Property is situated on a ±4.06 acre parcel and contains one single-story building totaling ±23,285 SF with three retail units. The plaza is currently ±60.3% occupied by one tenant: Tops Family Markets, a leading supermarket chain with 181 locations in New York, Pennsylvania, Vermont, and Massachusetts. The grocer has a long-term lease in-place until 2034, and the reports strong sales and earnings at this location, with reported sales around ±$4,000,000. Since 2015 the anchor has spent ±$100,000 to update their space, and reimburses the Landlord for pro rata share of any capital improvements made to the property. ±9,245 SF of the Property is currently vacant and divided into two smaller retail spaces: ±5,418 SF and ±3,827 SF. The Property is an ideal value-add investment through lease-up of available space, and a predictable cash flow from the long-term Tops lease. The Town of Northfield is located in Washington County within the heart of Vermont's Green Mountains. As of 2017, the population within a 5-mile radius is estimated to be ±7,535. Home to Norwich University, the oldest private military college in the United States, Northfield is an easy ±10-mile drive from Montpelier, the state's capital, and approximately three hours from both Boston and Montreal. As such, the town offers easy access to both idyllic rural and culturally diverse cosmopolitan settings. This opportunity offers investors a Tops Family Market anchored center with ideal value-add potential through lease-up of the available ±9,245 SF. This property will be auctioned on Monday, July 24 - Wednesday, July 26 . The price displayed is the starting bid amount of $300,000. For information and to register to bid on this property, please visit Ten-X.com.
