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    Historic Building in Downtown Bellows Falls Title is generated by Realmo AI

    39-41 The Square, Rockingham, VT 05101

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    Claim this Listing
    For Sale
    Under Contract
    $599,000

    Commercial For Sale - Rockingham, VT

    Lot size:
    0.26 Acres
    Added:
    Oct 15, 2024
    Days on Market:
    594
    Last Refresh:
    May 31 at 6:06 am

    Property Features for 39-41 The Square

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Central Business
    Rooms
    Basement
    Basement Y/N
    1
    Standard status
    Active Under Contract
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    15356

    Utilities

    Heating system
    Hot Water (Heating), Oil
    Cooling system
    Central Air

    Building Details

    Year built
    1875
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Robert Inman

    Listing agent Robert Inman

    Listing office RE/MAX Town & Country 117 West St., Keene, VT

    Listing date Oct 15, 2024

    MLS# 5018856 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Significant price drop.
    • Located in the heart of a thriving, walkable downtown area with restaurants, shops, and the Opera House.
    • Large building with 22,420 sq ft suitable for business or investment.
    • Elevator access to upper floors.
    • Unique 3rd‑floor bridge access from an upper street with free parking.
    • Historic building in a desirable downtown location.

    Overview

    Located in the heart of central square, this historic building is an anchor of downtown Bellows Falls, an incorporated village within the town of Rockingham. The walkable and thriving downtown overlooks the Connecticut River and Fall Mountain in New Hampshire. Situated within yards of notable restaurants, shops, and the Bellows Falls Opera House, the building measures 22,420 square feet and features professional offices on the second and third floors, with mostly retail space on the ground floor. The upper floors are serviced by an elevator, and a unique third-floor bridge is accessed from an upper town street with free parking. The property, situated on a 0.26-acre lot, is located in an area zoned for Central Business. This desirable spot in downtown is suitable for business use or investment with potential for growth.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Rockingham
    County
    Windham
    State
    Vermont
    Longitude
    -72.5005
    Latitude
    43.1826

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    FAQs

    What type of property is this?
    Office units - Anchoring downtown Rockingham, VT, with retail and office spaces.
    Where is this office units located?
    The property is located at 39-41 The Square Rockingham, VT.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: Significant price drop.; Located in the heart of a thriving, walkable downtown area with restaurants, shops, and the Opera House.; Large building with 22,420 sq ft suitable for business or investment.
    (603) 357-4100
    We can help!
    Listing Contact
    Robert Inman
    Real Estate License ID: 7535
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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