324 South Main St, St. Albans Town, VT 05481

Description

Prime South Main Street development opportunity! Whether you’re an investor, builder, or developer, this versatile 12-unit project offers an exceptional combination of location, flexibility, and investment potential. The current concept envisions four 3-unit buildings consisting of 12 spacious 3-bedroom townhomes of approximately 1,600 SF each with one-car garages; however, the final design is not set in stone, allowing a purchaser to tailor the project, unit mix, finishes, and construction approach to their desired budget, strategy, and end goal, subject to applicable approvals. A major advantage is the head start already in place. The site is cleared, open, and level, with an existing access road and some town/state approvals already secured. Municipal water and sewer are available, along with natural gas, helping create the potential for comparatively low initial infrastructure costs and a more straightforward path toward development. Build the units for individual resale and capitalize on the area’s growing values or retain them as rentals and create a highly desirable 12-unit portfolio with the opportunity to capture substantial sweat equity through development. The established 45-unit rental community immediately behind the site currently reports approximately 1% vacancy, offering compelling real-world evidence of strong rental demand at this location. With flexibility in how the project can ultimately be developed, buyers can pursue a product and price point that best fits their investment model—from attractive rental housing to new-construction townhomes for resale. Prime location, municipal utilities, natural gas, existing site work, approvals already underway, and multiple exit strategies make this a rare opportunity to take over a project with much of the groundwork already established. Bring your vision and explore the possibilities! Concept plans/renderings are likeness only; final development is subject to purchaser due diligence and required approvals