Building Details

Year Built 2008

Listing Agency: BHHS Vermont Realty Group/S Burlington

Listed By: Carrie Paquette Show Phone

Source: Harborlightrealty

Added: Aug 22 Changed: Aug 30 Last Checked: Aug 30 at 2:05AM

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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 BHHS Vermont Realty Group/S Burlington

Investment Insights

Based on property information with market context.

This 9,200-square-foot hospitality estate includes a five-bedroom inn with ensuite baths, shared gathering spaces, kitchen, dining area, and living rooms. A breezeway connects the inn to the Stone House, which adds three bedrooms, an office, two shared baths, and additional kitchen, dining, and living areas. The property also includes a 3,300-square-foot walk-out lower level with multiple access points for storage and utility functions.

A separate octagonal timber-frame event barn provides expansive gathering space, radiant-floor heat, a gas fireplace, catering kitchen, two restrooms, and commercial event infrastructure. The buildings feature mortise-and-tenon timber construction, stress-skin insulation, standing-seam roofing, advanced mechanical systems, and an integrated fire-protection sprinkler system. The grounds are surrounded by conserved pastureland with panoramic Green Mountain views and outdoor gathering areas. Located at 117 Highbridge Road in Fairfax, Vermont, the estate is about 25 minutes from Burlington International Airport and offers access to Lake Champlain, ski resorts, and year-round recreation.

Key Highlights

• 9,200‑square‑foot hospitality estate with a five‑bedroom inn and connected Stone House
• Stone House adds three bedrooms, an office, two shared baths, and full kitchen, dining, and living areas
• Separate octagonal timber‑frame event barn with radiant‑floor heat and gas fireplace

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

$77,716

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

3.45%

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%

$1,554,320 $1.6M

Cap Rate 7%

$1,110,229 $1.1M

Cap Rate 9%

$863,511 $863.5K

Market Conditions

NOI Build-Up for 9,200 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

$165.6K $18.00/SF

− Vacancy

−$2.0K −$0.22/SF

EGI

$163.6K $17.78/SF

− OpEx

−$85.9K −$9.34/SF

NOI

$77.7K $8.45/SF

Area

Chittenden County, VT

Vacancy

1.20%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

52.50%

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%

$1,554,320

Cap Rate 7%

$1,110,229

Cap Rate 9%

$863,511

Alternative Uses

Best Use

Hotel Hospitality

$1.11M

$971.5K – $1.30M (±1% cap)

NOI $77,716 @ 7.0% cap · market cap 3.45%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.52M

$2.21M – $2.94M (±1% cap)

NOI $176,640 @ 7.0% cap · market cap 7.85%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Hotels

Suggested Use

Top Pick Auto Repair Shop Real Estate Agency Grocery & Convenience Store Food Market Discount Store Department Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

8

Businesses Nearby

Explore this area Business Placement

Demographics for 05454, VT

5,167

Population

2,085

Households

2.5

Avg Household Size

39

Median Age

49%

College-Educated

98%

High-School Grad

48.1 sq mi

ZIP Area

107

Density / Sq Mi

$118,438

Median Household Income

$56,130

Median Earnings

$1,054

Median Rent

$361,000

Median Home Value

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Frequently Asked Questions

What type of property is this?

Hotel - Hospitality property combining guest accommodations, private living areas, and a separate venue with commercial event infrastructure.

Where is this hotel located?

The property is located at 117 Highbridge Road Fairfax, VT.

What is the asking price?

The asking price for this property is $2,250,000.

What are key features of this property?

This property features: 9,200‑square‑foot hospitality estate with a five‑bedroom inn and connected Stone House; Stone House adds three bedrooms, an office, two shared baths, and full kitchen, dining, and living areas; Separate octagonal timber‑frame event barn with radiant‑floor heat and gas fireplace