The subject property is owned by the United States of America (USA) and is held in custody of the General Services Administration (GSA). It represents the former Montpelier Federal Building and associated land in Montpelier, Vermont. The property is located along the north side of State Street approximately one-block west of Main Street. Surrounding land uses are primarily commercial and institutional. The subject is slated for disposition and the State of Vermont, with support from the City of Montpelier and the Montpelier Commission for Recovery and Resilience (a non-profit), has expressed interest in acquiring the property via negotiated sale (at fair market value). The subject site is comprised of 1.60± acres. The site is irregular in shape and has a generally level topography. Site improvements include curbs and sidewalks, minimal landscaping, and ample paved areas for on-site parking. There are two curb cuts on the property. One is located along the 145± linear feet of the site's frontage on State Street, and the other is along the 50± linear feet of the site's frontage on Elm Street. The subject site is in an Urban Center 1 zoning district which allows for a variety of residential, commercial, and institutional uses. The site is improved with a 3-story office building with a basement, comprising approximately 73,091 square feet of Gross Building Area (GBA) or 65,650 square feet of Rentable Building Area (RBA). The improvements were constructed circa 1964. The property will be conveyed out of government ownership, subject to a historic deed restriction stating that, “changes to the exterior of the Property are subject to local Historic Preservation Commission approval for compliance with the NPS Secretary of Interior’s Standards for Rehabilitation, 36 C.F.R. Part 67”. The property operated as a multi-tenant office building for various Federal agencies until July 2023, when it experienced significant flooding. The basement was submerged under 11 feet of water, and the first floor was flooded up to 42 inches. Most of the building's mechanical systems were damaged. GSA completed the majority of repairs, including restoring the HVAC system. However, the emergency generator and the elevator were not repaired/replaced. GSA is not aware of any structural damage from the flood. Although there were plans to move Federal agencies back into the building, it was ultimately decided to relocate them. The property is currently vacant. This property is located in Flood Zone AE and has two active underground storage tanks (USTs) in the parking lot behind the building. The first UST, a 1,000-gallon tank for diesel, was installed in 1994 and has an overfill liquid alarm. The second, an 8,000-gallon tank for fuel oil #2 or #4, was installed in 1999 and is equipped with an overfill automatic shutoff valve. To the best of our knowledge, both active USTs are in regulatory compliance. Due to its age, the building may contain asbestos-containing materials (ACMs) and/or lead-based paint (LBP).
