Spacious Colchester Quadplex Near
For Sale
$900,000
Pending
205 Blakely Rd, Colchester, VT 05446
Four units, seven bedrooms, desirable location near amenities.
Property Size3,520 SF
Lot Size0.70 Acres
Days on Market166
Property Features for 205 Blakely Rd
General Information
Standard status
Pending
Size
3,520 SF
Lot size
0.70 Acres
Property subtype
Commercial
Zoning
LS2
Taxes and HOA fees
Annual Taxes
$7,812
Building Details
Year Built
1972
Listing Agency:
RE/MAX North Professionals
(802) 760-7517
Listed By:
Mikail Stein
Source:
Thepaulmartinteam
Added: Mar 17
Changed: Aug 23
Last Checked: Jul 25 at 7:57AM
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 RE/MAX North Professionals
Investment Insights
Based on property information with market context.
Located on the outskirts of Malletts Bay, near town offices and schools, and directly in front of the Colchester Recreation Center, the property at 205 Blakely Road consists of four units within almost 4000 square feet. Each spacious unit, approximately 1000 square feet, features a full bath, a full kitchen with dishwashers, natural light, low pile carpet or vinyl flooring, and new windows. Recent updates include new flooring, a new efficient Weil McLain natural gas boiler, new windows, a five-year-old roof, and on-site coin-operated laundry and storage sheds. A Department of Health waiver, issued in 2013, exempts the property from IRC practices due to a Clay Point Associates, INC report indicating no lead paint within the residential structure. Situated on 0.70 acres, the property offers potential for additional development, subject to due diligence. The property is ready for immediate occupancy in all units, or consider updating at your leisure throughout to increase rental projections for this desirable location. With current rents and estimates for vacancies the CAP rate is 7.90% and easily brought to nearly 9%. Surrounded by community, schools, parks and recreation, and close to shopping and groceries this is a ideal investment or fantastic owner occupied home. The property includes a total of seven bedrooms and four bathrooms.
Key Highlights
- High CAP rate of 7.90%, with potential to reach nearly 9%.
- Four spacious units, each approximately 1000 sqft, with full kitchens and dishwashers.
- Prime location near schools, town offices, the Colchester Recreation Center, parks, shopping, and groceries.
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
$38,877
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
4.32%
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%
$777,540
$777.5K
Cap Rate 7%
$555,386
$555.4K
Cap Rate 9%
$431,967
$432.0K
Market Conditions
NOI Build-Up for 3,520 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
$56.2K $15.96/SF
− Vacancy
−$640 −$0.18/SF
EGI
$55.5K $15.78/SF
− OpEx
−$16.7K −$4.73/SF
NOI
$38.9K $11.04/SF
Area
Chittenden County, VT
Vacancy
1.14%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
30.00%
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%
$777,540
Cap Rate 7%
$555,386
Cap Rate 9%
$431,967
Alternative Uses
Best Use
Multifamily LT 5
$555.4K
$486.0K – $648.0K
NOI $38,877 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$491.9K
$430.4K – $573.8K
NOI $34,430 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$965.5K
$844.8K – $1.13M
NOI $67,584 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
Business Placement
Demographics for 05446, VT
16,081
Population
7,679
Households
2.1
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
36.6 sq mi
ZIP Area
439
Density / Sq Mi
$97,442
Median Household Income
$52,101
Median Earnings
$1,323
Median Rent
$357,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four units, seven bedrooms, desirable location near amenities.
Where is this quadplex located?
The property is located at 205 Blakely Rd Colchester, VT.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: High CAP rate of 7.90%, with potential to reach nearly 9%.; Four spacious units, each approximately 1000 sqft, with full kitchens and dishwashers.; Prime location near schools, town offices, the Colchester Recreation Center, parks, shopping, and groceries.
