Single-Level Flex
229-231 South Main Street, Rutland, VT 05701
For Sale
New
$655,000
A ground-floor layout combines retail and warehouse functions, with major updates completed in two renovation phases.
Property Size7,440 SF
Lot Size0.48 Acres
Price / SF$88.04
Days on Market5
Property Features for 229-231 South Main Street
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Corner Location
Road Access
Mixed-Use Components
Additional Details
Property Use
Building Details
Year Built
Year Renovated
Buildings
Stories
Building Size
Construction
Listing Agency:
Ault Commercial Realty (RayAultVt@gmail.com)
Listed By:
Ray Ault
(802) 773-0600
Source:
Aultcommercial
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:44PM
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 (RayAultVt@gmail.com)
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,440-square-foot flex property sits on a 0.48-acre corner parcel in Rutland City. Its steel frame and masonry walls enclose a single-level floor plan suited to a combined retail and warehouse configuration. Renovation work was completed in 2004 and 2016, and a propane furnace was installed in April 2026.
The property occupies the southwest corner of Dana Avenue and South Main Street. Built in 1980, the building offers a straightforward layout with all interior floor area on the first level.
The property occupies the southwest corner of Dana Avenue and South Main Street. Built in 1980, the building offers a straightforward layout with all interior floor area on the first level.
Key Highlights
- 7,440‑square‑foot building on a 0.48‑acre parcel
- Retail and warehouse configuration on one level
- Steel‑frame construction with masonry walls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,175
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,123,500
$1.1M
Cap Rate 7%
$802,500
$802.5K
Cap Rate 9%
$624,167
$624.2K
Market Conditions
NOI Build-Up for 7,440 SF
Gross rent
$98.2K $13.20/SF
− Vacancy
−$11.8K −$1.58/SF
EGI
$86.4K $11.62/SF
− OpEx
−$30.2K −$4.07/SF
NOI
$56.2K $7.55/SF
Area
Rutland County, VT
Vacancy
12.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,123,500
Cap Rate 7%
$802,500
Cap Rate 9%
$624,167
Alternative Uses
Best Use
Retail
$864.2K
$756.2K – $1.01M
NOI $60,496 @ 7.0% cap · market cap 9.24%
Second Best
Flex RnD
$802.5K
$702.2K – $936.3K
NOI $56,175 @ 7.0% cap · market cap 8.58%
Theoretical Best
Healthcare Medical
$1.30M
$1.13M – $1.51M
NOI $90,677 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
256
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 Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Flex space - A ground-floor layout combines retail and warehouse functions, with major updates completed in two renovation phases.
Where is this flex space located?
The property is located at 229-231 South Main Street Rutland, VT.
What is the asking price?
The asking price for this property is $655,000.
What are key features of this property?
This property features: 7,440‑square‑foot building on a 0.48‑acre parcel; Retail and warehouse configuration on one level; Steel‑frame construction with masonry walls
