Four-Bay Auto
For Sale
Contact for pricing
38 Jericho Rd, Essex Junction, VT 05452
Automotive service bays are paired with office space in a commercial property.
Property Size2,500 SF
Price / SF$276
Days on Market17
Property Features for 38 Jericho Rd
General Information
Standard status
Active
Size
2,500 SF
Property subtype
INDUSTRIAL
Listing Agency:
V/T Commercial
(802) 343-0119
Listed By:
Tony Blake
(802) 343-0119
Source:
Moodyscre
Added: Aug 14
Changed: Aug 29
Last Checked: Aug 29 at 9:02PM
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 V/T Commercial
Investment Insights
Based on property information with market context.
Located at 38 Jericho Rd in Essex Junction, Vermont, the property includes a 2,500-square-foot automotive building configured with four service bays and office space. The layout supports continued automotive use and provides a defined commercial structure for an owner-occupant.
The site is subject to active environmental testing and management associated with its prior use as a gas station. Any future plans should account for that ongoing process and the property’s documented site history.
The site is subject to active environmental testing and management associated with its prior use as a gas station. Any future plans should account for that ongoing process and the property’s documented site history.
Key Highlights
- 2,500‑square‑foot automotive property
- Four service bays with office space
- Active environmental testing and management currently in place
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
$36,666
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
5.31%
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%
$733,320
$733.3K
Cap Rate 7%
$523,800
$523.8K
Cap Rate 9%
$407,400
$407.4K
Market Conditions
NOI Build-Up for 2,500 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
$54.0K $21.60/SF
− Vacancy
−$1.6K −$0.65/SF
EGI
$52.4K $20.95/SF
− OpEx
−$15.7K −$6.29/SF
NOI
$36.7K $14.67/SF
Area
Chittenden County, VT
Vacancy
3.00%
Lease Rate
$21.60 /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%
$733,320
Cap Rate 7%
$523,800
Cap Rate 9%
$407,400
Alternative Uses
Best Use
Retail
$523.8K
$458.3K – $611.1K
NOI $36,666 @ 7.0% cap · market cap 5.31%
Second Best
Industrial
$326.0K
$285.3K – $380.4K
NOI $22,823 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 05452, VT
22,153
Population
9,808
Households
2.3
Avg Household Size
41
Median Age
54%
College-Educated
95%
High-School Grad
40.4 sq mi
ZIP Area
548
Density / Sq Mi
$97,697
Median Household Income
$55,997
Median Earnings
$1,463
Median Rent
$404,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Maverick — 38 Jericho Rd, Essex Junction, VT 05452
- Classic Bike Experience — 104 Center Rd, Essex Junction, VT 05452
- Jeff Potvin Automotive — 104 Center Rd, Essex Junction, VT 05452
- Frank's Motorcycle Sales & Services — 120 Center Rd, Essex Junction, VT 05452
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service bays are paired with office space in a commercial property.
Where is this auto shop located?
The property is located at 38 Jericho Rd Essex Junction, VT.
What is the asking price?
The asking price for this property is $690,000.
What are key features of this property?
This property features: 2,500‑square‑foot automotive property; Four service bays with office space; Active environmental testing and management currently in place
