Medical Office Condominium with Shared
For Sale
$132,500
198 N Main Street C-3, Rutland, VT 05701
Five-room professional suite includes reception, offices, storage, and patient-service areas.
Property Size1,232 SF
Price / SF$107.55
Days on Market62
Property Features for 198 N Main Street C-3
General Information
Standard status
Active
Size
1,232 SF
Total Parking Spaces
30
Additional Details
Asking Price
$132,500
Office Units
1
Amenities
landscaped grounds
client lounge
common break-room
storage closet
Listing Agency:
Ault Commercial Realty, Inc.
Listed By:
Ray Ault
(802) 773-0600
Source:
Stevecotran
Added: Aug 17
Changed: Oct 3
Last Checked: Oct 16 at 8:28AM
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 Ault Commercial Realty, Inc.
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Unit C-3 is a 1,232-square-foot medical office condominium arranged as a five-room professional suite. The existing layout includes reception, a private office, an office and lab area, storage, and three patient-servicing office areas. The unit also contains a non-ADA half-bath, while an accessible restroom is located in the common area.
The property is at 198 N Main Street in Rutland City, within Pond Meadow Park. The site records approximately 15,000 ADT and provides 30 cars + or- of on-site parking amid landscaped grounds overlooking the Tenney Brook picnic area. Unit C-3 shares a naturally lit client lounge, common break room, and approximately 6'x8' storage closet. The condominium association recently replaced the furnace and upgraded the entry walkway, hallway, and restrooms. Ownership includes an undivided 6.59% interest in the land and a 20% interest in the commercial office building.
The property is at 198 N Main Street in Rutland City, within Pond Meadow Park. The site records approximately 15,000 ADT and provides 30 cars + or- of on-site parking amid landscaped grounds overlooking the Tenney Brook picnic area. Unit C-3 shares a naturally lit client lounge, common break room, and approximately 6'x8' storage closet. The condominium association recently replaced the furnace and upgraded the entry walkway, hallway, and restrooms. Ownership includes an undivided 6.59% interest in the land and a 20% interest in the commercial office building.
Key Highlights
- 1,232 sf medical office condominium at 198 N Main Street, C‑3
- Existing five‑room dental office configuration with reception, offices, lab, storage, and 3 patient‑servicing office areas
- Approximately 15,000 ADT rounded at the location
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,547
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,940
$190.9K
Cap Rate 7%
$136,386
$136.4K
Cap Rate 9%
$106,078
$106.1K
Market Conditions
NOI Build-Up for 1,232 SF
Gross rent
$15.5K $12.60/SF
− Vacancy
−$2.8K −$2.27/SF
EGI
$12.7K $10.33/SF
− OpEx
−$3.2K −$2.58/SF
NOI
$9.5K $7.75/SF
Area
Rutland County, VT
Vacancy
18.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,940
Cap Rate 7%
$136,386
Cap Rate 9%
$106,078
Alternative Uses
Best Use
Healthcare Medical
$214.5K
$187.7K – $250.3K
NOI $15,015 @ 7.0% cap · market cap 11.33%
Second Best
Office B
$136.4K
$119.3K – $159.1K
NOI $9,547 @ 7.0% cap · market cap 7.21%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
1
Office units
Location Intelligence
Trade Area within ½ mile
309
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 05701, VT
20,349
Population
10,528
Households
1.9
Avg Household Size
48
Median Age
34%
College-Educated
93%
High-School Grad
67.7 sq mi
ZIP Area
301
Density / Sq Mi
$58,744
Median Household Income
$41,391
Median Earnings
$963
Median Rent
$202,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- All Points Animal Care — 170 N Main St, Rutland, VT 05701
Frequently Asked Questions
What type of property is this?
Medical Office Space - Five-room professional suite includes reception, offices, storage, and patient-service areas.
Where is this medical office space located?
The property is located at 198 N Main Street C-3 Rutland, VT.
What is the asking price?
The asking price for this property is $132,500.
What are key features of this property?
This property features: 1,232 sf medical office condominium at 198 N Main Street, C‑3; Existing five‑room dental office configuration with reception, offices, lab, storage, and 3 patient‑servicing office areas; Approximately 15,000 ADT rounded at the location
