Add Listing
    For Sale
    • 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

    120 Hegeman Ave Colchester, VT 5446

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $975,000

    Well-positioned, 126-unit self-storage facility with upside potential.

    Type:Commercial
    Property size:
    15,224 SF
    Lot size:
    2.58 Acres
    Added:
    Mar 25, 2026
    Days on Market:
    11
    Last Refresh:
    Mar 23 at 12:21 pm

    Property Features for 120 Hegeman Ave

    General Information

    Standard status
    Active
    Size
    15,224 SF
    Lot size
    2.58 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1898

    We can help!

    Listing Contact
    David Raphael

    Listing agent David Raphael

    Listing office

    Listing date Mar 25, 2026

    Source Elliman

    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 David Raphael

    Overview

    Fort Ethan Allen Mini Storage

    Fort Ethan Allen Mini Storage presents an investment opportunity with upside potential. This self-storage facility comprises 126 units across three buildings in an accessible location. The primary brick building, totaling approximately 15,224 square feet, features a mix of climate-controlled and non-climate-controlled units on the first and second floors. A local church currently leases gathering space in this building under a lease running through October 2030, providing stable income. Historically, many of the climate-controlled units have been leased as both storage and office spaces. Two additional metal buildings, totaling approximately 2,646 square feet and 2,200 square feet, contain 47 self-storage units with roll-up doors and direct drive-up access. Inside the complex, there are currently two larger spaces that could be reconfigured to increase both the unit count and gross rentable area. One unused area, already served by a garage door, is suited for a contractor or user needing dedicated drive-up access. Operations are streamlined through modern online self-storage management software, allowing for efficient leasing and rent collection. The asking price reflects a 6.6% cap rate.
    Location Intelligence

    Current Use by Public Records

    RCCG Vermont Church Fort Ethan Allen ... Storage Facility

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office 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
    Colchester
    County
    Chittenden
    State
    Vermont
    Longitude
    -73.148195
    Latitude
    44.508025

    Nearby Similar for Sale

    • $630,000

      Colchester Commercial Property For Sale

      Commercial property with shop, warehouse, and office space in Colchester.
      46 Troy Avenue, Colchester, VT 05446
      View Details
    • $3,850,000
      6,690 SF

      Colchester Office Space For Rent

      First floor office space with flexible layout near I-89.
      553 Roosevelt Hwy, Colchester, VT
      View Details
    • $5,147,617
      13,320 SF

      Colchester Commercial Property For Sale

      Commercial property with long-term absolute NNN lease in Colchester, VT.
      69 Mountain View Dr, Colchester, VT 05446
      View Details
    • $695,000
      2,720 SF

      Colchester Office Condo For Sale

      Office condo with existing tenant and owner-occupancy suite.
      19 Roosevelt Hwy, Colchester, VT
      View Details

    FAQs

    What type of property is this?
    Self storage facility - Well-positioned, 126-unit self-storage facility with upside potential.
    Where is this self storage facility located?
    The property is located at 120 Hegeman Ave Colchester, VT.
    What is the asking price?
    The asking price for this property is $975,000.
    What are key features of this property?
    This property features: Stable income from existing lease with a local church through October 2030.; Significant upside potential through reconfiguration of existing spaces to increase unit count and gross rentable area.; Mix of climate‑controlled and non‑climate‑controlled units caters to diverse tenant needs and revenue streams.
    (802) 363-7002
    We can help!
    Listing Contact
    David Raphael
    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!