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    Corner Ground-Floor Retail/Office Title is generated by Realmo AI

    28 Cornelia Court, Milton, VT 05468

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    For Lease
    $2,100/Mo $1.08 SF/Yr (calc)

    Newly constructed corner unit with large windows, patio, and flexible entry access for retail or client-facing office use.

    Property size:
    23,355 SF
    Added:
    Sep 22, 2025
    Days on Market:
    257
    Last Refresh:
    Jun 5 at 2:17 am

    Property Features for 28 Cornelia Court

    General Information

    Standard status
    Active
    Size
    23,355 SF

    Building Details

    Year Built
    2021

    We can help!

    Listing Contact
    Mikail Stein

    Listing office RE/MAX North Professionals

    Listing date Sep 22, 2025

    Source Lakechamplainrealestate

    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

    HighLights

    • 2021 newly constructed ground‑floor corner unit at 28 Cornelia Court, Milton, offering 2,100 SF of retail or professional space
    • Large windows plus heavy‑traffic exposure at the entrance to downtown Milton for retail or client‑facing uses
    • Double‑door entry from the parking lot into a main open room, supported by a large private patio off the front of the building
    • Includes a 10' x 13' enclosed room for office or storage and a large private handicap‑accessible restroom
    • Two additional entry points from the main road for flexible access and signage options
    • Offered on a triple net (NNN) lease at $12.00/SF with CAM charges of $4.15/SF (includes grounds maintenance, snow plowing, lawn care, taxes, insurance, trash removal, and management)

    Overview

    Unit 101 at 28 Cornelia Court is a newly constructed, ground-floor corner space designed for retail or professional use. The unit includes a prominent front entry from the parking lot, with double doors opening into a primary open room that makes up more than half of the space. A 10' x 13' enclosed room provides separation for a private office or storage. There is also a large private restroom that is handicap accessible, plus a large private patio off the front of the building.

    The building sits at the entrance to downtown Milton and features multiple points of access, including a main entry near the parking area and two additional entry points from the main road. Large windows support visibility and natural light, and the site offers ample on-site parking, including solar-covered carports.

    This NNN lease is offered at $12.00/sf with CAM charges of $4.15/sf. CAM expenses include grounds maintenance, snow plowing, lawn care, taxes, insurance, trash removal, and management. The layout supports storefront-style presentation while also accommodating client meetings and back-of-house storage needs. Tenant should perform due diligence regarding final suitability for their intended use.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Milton
    County
    Chittenden
    State
    Vermont
    Longitude
    -73.1453
    Latitude
    44.6579

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      Newly constructed ground-floor suite with large windows, double-door entry, and a private patio in a mixed-use town setting.
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    FAQs

    What type of property is this?
    Retail space - Newly constructed corner unit with large windows, patio, and flexible entry access for retail or client-facing office use.
    Where is this retail space located?
    The property is located at 28 Cornelia Court Milton, VT.
    What is the lease rate?
    The lease rate is $2,100 /Mo.
    What are key features of this property?
    This property features: 2021 newly constructed ground‑floor corner unit at 28 Cornelia Court, Milton, offering 2,100 SF of retail or professional space; Large windows plus heavy‑traffic exposure at the entrance to downtown Milton for retail or client‑facing uses; Double‑door entry from the parking lot into a main open room, supported by a large private patio off the front of the building
    We can help!
    Listing Contact
    Mikail Stein
    Learn More
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    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
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