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    Subdividable Residential Development Land Title is generated by Realmo AI

    33 Willys Lane, Milton, VT 05468

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    Claim this Listing
    For Sale
    $300,000

    LAND - Milton, VT

    Lot size:
    3.16 Acres
    Added:
    May 29, 2025
    Days on Market:
    371
    Last Refresh:
    Jun 3 at 10:06 pm

    Property Features for 33 Willys Lane

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    M4-R
    Standard status
    Active
    Lot size
    3.16 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    We can help!

    Listing Contact
    Warren Palm

    Listing agent Warren Palm

    Listing office BHHS Vermont Realty Group/S Burlington 1161 Williston Rd., South Burlington, VT

    Listing date May 29, 2025

    MLS# 5043836 Listing URL

    Copyright © 2026 PrimeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3.16‑acre surveyed parcel not yet subdivided from an existing 18‑acre larger parcel
    • Sketch plan approval from the Town of Milton for 6 lots or 12 units (with conditions)
    • Planned Willys Lane Extension will bisect the acreage into 1.49‑acre and 1.67‑acre lots
    • Wetlands on the property have been delineated, including the buffer area
    • Town water, town sewer, and natural gas are nearby
    • Willys Lane Extension is planned to connect to an existing road south of the property that connects to Rte 7

    Overview

    This surveyed land parcel totals 3.16 acres and is currently part of a larger 18-acre tract, with no subdivision completed yet. The property is planned to be bisected by a future Willys Lane Extension that is intended to become a town road, dividing the acreage into approximately 1.49-acre and 1.67-acre lots. The owner has obtained a town of Milton sketch plan approval for 6 lots or 12 units, subject to conditions. Wetlands are present and have been delineated, including the buffer area around the wetlands, and the delineation is reflected in the available plats.

    Access and servicing are supported by nearby utilities, including town water, town sewer, and natural gas. The Willys Lane Extension is described as connecting to a road on an adjacent property south of this parcel, with that adjacent connection tying into Route 7. The listing materials include plats showing existing and future roads and surrounding new subdivisions.

    For buyers, this site offers a documented development framework, including sketch plan approval and an existing wetlands delineation, while still allowing for different subdivision configurations after purchase. The seller indicates the Willys Lane Extension timing and funding details are available through the agent, and owner financing may be considered depending on the terms.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop 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
    -73.130257
    Latitude
    44.619796

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    FAQs

    What type of property is this?
    Residential land & home lot - A surveyed 3.16-acre parcel with delineated wetlands and sketch plan approval for up to six lots.
    Where is this residential land & home lot located?
    The property is located at 33 Willys Lane Milton, VT.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: 3.16‑acre surveyed parcel not yet subdivided from an existing 18‑acre larger parcel; Sketch plan approval from the Town of Milton for 6 lots or 12 units (with conditions); Planned Willys Lane Extension will bisect the acreage into 1.49‑acre and 1.67‑acre lots
    (802) 658-5555
    We can help!
    Listing Contact
    Warren Palm
    Request Owner's contact information
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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.

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