Office and Industrial Flex
For Sale
Contact for pricing
1889 Williston Road, South Burlington, VT 05403
Two-building campus with a two-story office and one-story steel-frame industrial space along a major commercial corridor.
Property Size48,064 SF
Lot Size3.41 Acres
Price / SF$121.73
Days on Market54
Property Features for 1889 Williston Road
General Information
Standard status
Active
Size
48,064 SF
Lot size
3.41 Acres
Property subtype
Mixed Use
Additional Details
Highway Access
Yes
Office Units
5
Building Details
Year Built
1970
Tenancy
Multi
Listing Agency:
Nedde Real Estate
(802) 777-0732
Listed By:
Jaeger Nedde · License #VT 082.0134772
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 7 at 8:48AM
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 Nedde Real Estate
Investment Insights
Based on property information with market context.
The property at 1889–1891 Williston Road is a 3.41-acre site improved with two separate buildings. The office component is a two-story wood frame building totaling 5,096 SF. The industrial component is a one-story steel frame building totaling 42,968 SF. Together, the layout supports mixed business uses and operational flexibility within a single ownership footprint.
The site is located along one of South Burlington’s most visible and well-traveled commercial corridors, with positioning described as offering strong accessibility. The property is also noted as being in proximity to I-89 and Burlington International Airport, as well as a range of retail, dining, and service destinations.
For tenants and owner-users, the combination of a dedicated office building and a larger industrial warehouse building can support a variety of back-office and operational needs under one roof. For buyers considering long-term use, the offering includes the ability to expand the buildings by up to 15,000 SF, providing an option to increase usable space and accommodate additional tenants or operational growth. The asset is being offered for sale at 1889–1891 Williston Road, South Burlington, VT 05403.
The site is located along one of South Burlington’s most visible and well-traveled commercial corridors, with positioning described as offering strong accessibility. The property is also noted as being in proximity to I-89 and Burlington International Airport, as well as a range of retail, dining, and service destinations.
For tenants and owner-users, the combination of a dedicated office building and a larger industrial warehouse building can support a variety of back-office and operational needs under one roof. For buyers considering long-term use, the offering includes the ability to expand the buildings by up to 15,000 SF, providing an option to increase usable space and accommodate additional tenants or operational growth. The asset is being offered for sale at 1889–1891 Williston Road, South Burlington, VT 05403.
Key Highlights
- Two‑building commercial campus on a 3.41‑acre parcel with a two‑story office building and one‑story steel‑frame industrial building
- Two‑story wood frame office building totals 5,096 SF
- One‑story steel‑frame industrial building totals 42,968 SF
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
$508,588
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
8.69%
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%
$10,171,760
$10.2M
Cap Rate 7%
$7,265,543
$7.3M
Cap Rate 9%
$5,650,978
$5.7M
Market Conditions
NOI Build-Up for 48,064 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
$605.6K $12.60/SF
− Vacancy
−$7.3K −$0.15/SF
EGI
$598.3K $12.45/SF
− OpEx
−$89.8K −$1.87/SF
NOI
$508.6K $10.58/SF
Area
Chittenden County, VT
Vacancy
1.20%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
15.00%
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%
$10,171,760
Cap Rate 7%
$7,265,543
Cap Rate 9%
$5,650,978
Alternative Uses
Best Use
Flex RnD
$11.01M
$9.63M – $12.84M
NOI $770,433 @ 7.0% cap · market cap 13.17%
Second Best
Office B
$9.64M
$8.44M – $11.25M
NOI $674,819 @ 7.0% cap · market cap 11.53%
Theoretical Best
Office A
$13.18M
$11.54M – $15.38M
NOI $922,829 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 05403, VT
20,166
Population
9,565
Households
2.1
Avg Household Size
41
Median Age
65%
College-Educated
98%
High-School Grad
16.4 sq mi
ZIP Area
1,230
Density / Sq Mi
$97,041
Median Household Income
$54,362
Median Earnings
$1,755
Median Rent
$399,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
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Similar Off Market Nearby
- The Hungry Pea — 6 Mayfair St, South Burlington, VT 05403
- Taco Truck All Stars — 1977 Williston Rd, South Burlington, VT 05403
Frequently Asked Questions
What type of property is this?
Flex space - Two-building campus with a two-story office and one-story steel-frame industrial space along a major commercial corridor.
Where is this flex space located?
The property is located at 1889 Williston Road South Burlington, VT.
What is the asking price?
The asking price for this property is $5,851,000.
What are key features of this property?
This property features: Two‑building commercial campus on a 3.41‑acre parcel with a two‑story office building and one‑story steel‑frame industrial building; Two‑story wood frame office building totals 5,096 SF; One‑story steel‑frame industrial building totals 42,968 SF
