Walgreens NNN Retail
For Sale
Contact for pricing
11 Susie Wilson Road, Essex Junction, VT 05452
Absolute NNN lease with Walgreens Co. supports a single-tenant retail investment profile.
Property Size10,910 SF
Lot Size1.57 Acres
Price / SF$186.90
Days on Market36
Property Features for 11 Susie Wilson Road
General Information
Standard status
Active
Size
10,910 SF
Lot size
1.57 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$142,735
Financials
Asking Price
$2,039,071
Cap Rate
7%
Building Details
Year Built
1998
Year Renovated
2018
Buildings
1
Tenancy
Single
Listing Agency:
Malchus Real Estate
Listed By:
Joel Cukier · License #02005095
(424) 320-5460
Source:
Crexi
Added: Jul 29
Changed: Sep 1
Last Checked: Sep 1 at 10:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Malchus Real Estate
Investment Insights
Based on property information with market context.
The property comprises a 10,910-square-foot Walgreens retail building constructed in 1998 on 1.57 acres. Walgreens Co. occupies the asset under a true absolute NNN lease, placing the property within a single-tenant net-lease format.
Located at 11 Susie Wilson Road in Essex Junction, Vermont, the site is 6 miles east of downtown Burlington and within Vermont’s largest metro market. ZIP code 05452 has an average household income of $116,971, while the broader metro area includes approximately 211,261 residents. GlobalFoundries’ semiconductor fabrication plant, identified as Vermont’s largest private employer, has approximately 3,000 employees and anchors the surrounding employment base.
Located at 11 Susie Wilson Road in Essex Junction, Vermont, the site is 6 miles east of downtown Burlington and within Vermont’s largest metro market. ZIP code 05452 has an average household income of $116,971, while the broader metro area includes approximately 211,261 residents. GlobalFoundries’ semiconductor fabrication plant, identified as Vermont’s largest private employer, has approximately 3,000 employees and anchors the surrounding employment base.
Key Highlights
- Walgreens Co. occupies the property under a true absolute NNN lease
- 10,910 SF retail building on 1.57 acres
- Constructed in 1998
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$177,531
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.71%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,550,620
$3.6M
Cap Rate 7%
$2,536,157
$2.5M
Cap Rate 9%
$1,972,567
$2.0M
Market Conditions
NOI Build-Up for 10,910 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$239.6K $21.96/SF
− Vacancy
−$2.9K −$0.26/SF
EGI
$236.7K $21.70/SF
− OpEx
−$59.2K −$5.42/SF
NOI
$177.5K $16.27/SF
Area
Chittenden County, VT
Vacancy
1.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,550,620
Cap Rate 7%
$2,536,157
Cap Rate 9%
$1,972,567
Alternative Uses
Best Use
Specialty Retail
$2.54M
$2.22M – $2.96M
NOI $177,531 @ 7.0% cap · market cap 8.71%
Second Best
Retail
$2.29M
$2.00M – $2.67M
NOI $160,010 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,472 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
467
Businesses Nearby
68k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 56%
Dining 27%
Shops & Services 13%
Electronics 3%
Lowe's
Home Improvements & Furnishings
37,737 visits/mo
0.1 miles
Starbucks
Dining
18,349 visits/mo
0.1 miles
M&T Bank
Shops & Services
4,041 visits/mo
0.0 miles
O'Reilly Auto Parts
Shops & Services
2,590 visits/mo
0.1 miles
T-Mobile
Electronics
1,793 visits/mo
0.1 miles
Demographics for 05452, VT
22,153
Population
9,808
Households
2.3
Avg Household Size
41
Median Age
54%
College-Educated
95%
High-School Grad
40.4 sq mi
ZIP Area
548
Density / Sq Mi
$97,697
Median Household Income
$55,997
Median Earnings
$1,463
Median Rent
$404,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Absolute NNN lease with Walgreens Co. supports a single-tenant retail investment profile.
Where is this nnn property located?
The property is located at 11 Susie Wilson Road Essex Junction, VT.
What is the asking price?
The asking price for this property is $2,039,071.
What are key features of this property?
This property features: Walgreens Co. occupies the property under a true absolute NNN lease; 10,910 SF retail building on 1.57 acres; Constructed in 1998
