Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Opportunity in Essex, VT Title is generated by Realmo AI

    86 Center Rd, Essex Junction, VT

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Buildable lot in Price Chopper Plaza with drive-through potential.

    Type:RETAIL
    Property size:
    30,000 SF
    Lot size:
    13.81 Acres
    Price / SF:
    $25/SF
    Added:
    Sep 23, 2024
    Days on Market:
    622
    Last Refresh:
    May 20 at 8:15 pm

    Property Features for 86 Center Rd

    General Information

    Standard status
    Active
    Size
    30,000 SF
    Lot size
    13.81 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Kendra Kenney
    Kendra Kenney

    Listing agent Kendra Kenney

    Listing office POMERLEAU Real Estate

    Listing date Sep 23, 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 POMERLEAU Real Estate

    HighLights

    • Highly desirable buildable lot in the heart of Essex, VT.
    • Located within the Price Chopper Shopping Plaza.
    • Outstanding traffic counts: 17,000 +/- daily.
    • Rare two‑lane drive‑through.
    • Building opportunity ranging from 3,500 – 30,000 SF.
    • Outstanding development opportunity.

    Overview

    This commercial land offers a development opportunity in Essex, VT, situated within the Price Chopper Shopping Plaza. The buildable lot benefits from high traffic counts and a rare two-lane drive-through. The potential building size ranges from 3,500 to 30,000 square feet. The location experiences approximately 17,000 daily traffic counts.
    Location Intelligence

    Current Use by Public Records

    Price Chopper Floral (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Essex Junction
    County
    Chittenden
    State
    Vermont
    Longitude
    -73.0673
    Latitude
    44.5111

    Nearby Similar for Sale

    • $375,000
      1,840 SF

      Duplex with Covered Porches

      Two-unit duplex with separate covered porches, full basement storage, and off-street parking for flexible owner-occupant living.
      2 Arlington Street, Essex Junction, VT 05452
      View Details
    • $614,900

      Essex Junction Duplex Investment Opportunity

      Duplex in convenient location near Essex Junction's Five Corners.
      4 Brickyard Rd 4E & 4W, Essex Junction, VT 05452
      View Details
    • $649,000
      1,416 SF

      Essex Junction Mixed-Use Investment Property

      Fully leased mixed-use property with redevelopment potential in central Essex Junction.
      50 Pearl St, Essex Junction, VT 05452
      View Details
    • $160,000

      Residential Land in Essex Junction

      Land with redevelopment potential in a prime Essex Junction location.
      35 Grove Street, Essex Junction, VT 05452
      View Details
    • $1,950,000
      23,000 SF

      Industrial Property with Long-Term Tenant

      23,000 SF industrial building with single tenant through 2034.
      1 Gero Ct, Essex Junction, VT
      View Details
    • $333,000

      Land For Sale

      Land available on Old Colchester Road.
      60 Old Colchester Road, Essex Junction, VT 05452
      View Details
    • $450,000
      2,672 SF

      Historic Building on Route 15

      Versatile property suitable for residential or commercial use.
      6 Carmichael St, Essex Junction, VT
      View Details

    FAQs

    What type of property is this?
    Commercial land - Buildable lot in Price Chopper Plaza with drive-through potential.
    Where is this commercial land located?
    The property is located at 86 Center Rd Essex Junction, VT.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: Highly desirable buildable lot in the heart of Essex, VT.; Located within the Price Chopper Shopping Plaza.; Outstanding traffic counts: 17,000 +/- daily.
    (508) 479-8761 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kendra Kenney
    Kendra Kenney
    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

    Thank You for Inquiry
    86 Center Rd, Essex Junction, VT
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!