Unique Prairie Style Office
For Sale
$899,900
308 College Street, Burlington, VT 05401
Burlington's only Prairie Style residence, currently configured as office space.
Property Size2,072 SF
Lot Size0.30 Acres
Price / SF$434.31
Days on Market237
Property Features for 308 College Street
General Information
Standard status
Active
Size
2,072 SF
Lot size
0.30 Acres
Property subtype
Commercial
Building Details
Year Built
1917
Listing Agency:
Geri Reilly Real Estate
Listed By:
Geri Reilly
(802) 343-0191
Source:
Buyvtrealestate
Added: Feb 24
Changed: Oct 19
Last Checked: Oct 19 at 10:16AM
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 Geri Reilly Real Estate
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.
The Heininger House, Burlington’s only Prairie Style residence, is architecturally inspired by Frank Lloyd Wright's plan in the 1906 Ladies Home Journal. Built by Oscar Heininger of Kieslich Construction for his son Oscar Jr., the original marked up plans have been preserved. Currently configured as office space, this property preserves its original character, featuring woodwork, stained glass, intricate built-ins, French doors, a grand staircase, and detailed trim and molding throughout. Set on a 50x120 lot and including an additional 60x120 adjacent parcel, this property offers flexibility and opportunity. Inside, there are bright, spacious rooms with hardwood floors, a front foyer with built-in bench, and a functional kitchen with mudroom access to the backyard. The main level also features a formal dining and living room with natural light, built-ins, and a decorative fireplace, plus a den. Upstairs, there are three bedrooms, a full bath, and an enclosed sunroom. The semi-finished lower level offers additional office space, a crafts room, and storage. Outside, a detached two-car garage, greenhouse, and parking add to the appeal. The separate deeded lot presents possibilities for gardens, entertaining, or potential development. Located next to the YMCA and minutes from UVM, Champlain College, UVM Medical Center, Church Street Marketplace, and I-89, this property offers versatility as a residence or office space.
Key Highlights
- Unique Prairie Style architecture inspired by Frank Lloyd Wright, Burlington's only residence of this kind.
- Includes an adjacent, separate deeded 60x120 lot, offering significant flexibility.
- Original architectural plans preserved, showcasing the home's history and craftsmanship.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,091
Cap Rate
3.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,820
$581.8K
Cap Rate 7%
$415,586
$415.6K
Cap Rate 9%
$323,233
$323.2K
Market Conditions
NOI Build-Up for 2,072 SF
Gross rent
$49.7K $24.00/SF
− Vacancy
−$10.9K −$5.28/SF
EGI
$38.8K $18.72/SF
− OpEx
−$9.7K −$4.68/SF
NOI
$29.1K $14.04/SF
Area
Chittenden County, VT
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,820
Cap Rate 7%
$415,586
Cap Rate 9%
$323,233
Alternative Uses
Best Use
Office B
$415.6K
$363.6K – $484.9K
NOI $29,091 @ 7.0% cap · market cap 3.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$568.3K
$497.3K – $663.0K
NOI $39,782 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,665
Businesses Nearby
Explore this area
Business Placement
Demographics for 05401, VT
32,059
Population
13,898
Households
2.3
Avg Household Size
28
Median Age
63%
College-Educated
95%
High-School Grad
6.1 sq mi
ZIP Area
5,256
Density / Sq Mi
$60,532
Median Household Income
$23,422
Median Earnings
$1,614
Median Rent
$463,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office building - Burlington's only Prairie Style residence, currently configured as office space.
Where is this office building located?
The property is located at 308 College Street Burlington, VT.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Unique Prairie Style architecture inspired by Frank Lloyd Wright, Burlington's only residence of this kind.; Includes an adjacent, separate deeded 60x120 lot, offering significant flexibility.; Original architectural plans preserved, showcasing the home's history and craftsmanship.
