Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    159 Bank St Burlington, VT

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $20 SF/Yr

    Iconic office suites in downtown Burlington with parking garage access.

    Type:OFFICE
    Property size:
    25,097 SF
    Lot size:
    0.64 Acres
    Added:
    Jun 19, 2024
    Days on Market:
    652
    Last Refresh:
    Mar 29 at 8:15 pm

    Property Features for 159 Bank St

    General Information

    Standard status
    Active
    Size
    25,097 SF
    Lot size
    0.64 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 159 Bank St Contact us

    We can help!

    Listing Contact
    Tony Blake

    Listing agent Tony Blake

    Listing office V/T Commercial

    Listing date Jun 19, 2024

    Source Moodyscre

    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 V/T Commercial

    Overview

    Historic Downtown Burlington Office Suites

    Multiple office suites are available for rent within the historic Howard Opera House Building, an iconic property located at the corner of Church and Bank Streets in Downtown Burlington. The suites feature large windows, high ceilings, and detailed woodwork. The building is attached to a parking garage, providing internal access. The property is a secure building with on-site property management. The location offers access to food, shopping, and recreation. The landlord is attentive to tenant needs and will reprogram spaces for adaptive re-use. Test fits are available for interested tenants. The property is on a bus route and offers structured and secure parking.
    Location Intelligence

    Current Use by Public Records

    The Richards Group Insurance Agency Tetra Tech Engineering Consultant HIMSS Analytics Physician Green Mountain Sponsored ... Insurance Agency Strategic Risk Solutions Business Management Consultant

    Suggested Use

    Real Estate Agency Restaurant Law Firm Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Chittenden
    State
    Vermont
    Longitude
    -73.2132
    Latitude
    44.478

    Nearby Similar for Lease

    • Contact for pricing

      First Floor Office Space Available

      Single office in shared suite with natural light and parking.
      231 Maple St, Burlington, VT
      View Details
    • Contact for pricing

      Historic Office Suite For Rent

      Two-office suite with waiting room near Burlington's waterfront.
      35 King St, Burlington, VT
      View Details
    • Contact for pricing

      Retail Space on Bank Street

      Street-level retail with lower level in Burlington, VT.
      191 Bank Street, Burlington, VT
      View Details
    • Contact for pricing

      Downtown Burlington Office Space Available

      Recently updated office space in the heart of Burlington.
      13-15 Center St, Burlington, VT
      View Details
    • $14/mo

      Historic Chace Mill Office Space

      Office space for lease in historic Chace Mill building.
      1 Mill St, Burlington, VT
      View Details
    • Contact for pricing

      Downtown Burlington Office Space

      Single room office space in downtown Burlington for rent.
      104 Church St, Burlington, VT
      View Details
    • $40/mo

      Downtown Retail Space Available

      Prime downtown location with high traffic and built-in customers.
      5 Burlington Sq, Burlington, VT
      View Details
    • $14/mo

      Renovated Office Space on Main

      Charming, renovated office space in a convenient downtown location.
      65 Main St, Burlington, VT
      View Details
    • Contact for pricing

      Downtown Venue with Kitchen & Bars

      Three-story downtown venue with kitchen, bars, and performance spaces.
      180 Main St, Burlington, VT
      View Details
    • $15/mo

      Burlington Retail Space For Rent

      Retail space available in Ethan Allen Shopping Center.
      1125 North Ave, Burlington, VT
      View Details
    • $15/mo

      Retail Space Available For Rent

      Retail space with great exposure available for Summer 2025.
      1127 North Ave, Burlington, VT
      View Details
    • $15/mo

      Former Market Location in Burlington

      Visible corner location suitable for retail in Burlington's South End.
      457 Saint Paul St, Burlington, VT
      View Details

    FAQs

    What type of property is this?
    Office units - Iconic office suites in downtown Burlington with parking garage access.
    Where is this office units located?
    The property is located at 159 Bank St Burlington, VT.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: Prime Downtown Burlington location at the iconic Howard Opera House Building.; Attached structured and secure parking with internal access.; Suites feature large windows, high ceilings, and incredible woodwork.
    (802) 343-0119
    We can help!
    Listing Contact
    Tony Blake
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!