39 Esplanade, Richmond, VT 05477

Building Details

Year Built 2007 More

Buildings 1 More

Stories 2 More

Tenancy Multi More

Listing Agency: V/T Commercial Show Phone

Listed By: Tony Blake · License #081.0003300 Show Phone

Source: Moodyscre

Added: Sep 16 Changed: Oct 31 Last Checked: Nov 6 at 10:03AM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Located at 39 Esplanade in Richmond, this approximately 3,174 SF, two-story mixed-use building occupies a 0.46-acre site. The first floor contains a restaurant, while the second floor includes two residential units: one two-bedroom, one-bath unit and one one-bedroom, one-bath unit. Built in 2007, the property combines commercial and residential components within one building.

The restaurant is currently operated by the property owner, who is willing to execute a long-term leaseback at closing. This structure provides an established commercial tenancy alongside the two residential units. The combination of restaurant space and residential apartments creates a diversified property configuration for an investor or owner-operator.

Key Highlights

• Approximately 3,174 SF two‑story building
• 0.46 +/- acre site
• First‑floor restaurant space

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$51,648

Cap Rate

4.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,032,960 $1.0M

Cap Rate 7%

$737,829 $737.8K

Cap Rate 9%

$573,867 $573.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,174 SF

Gross rent

$69.7K $21.96/SF

− Vacancy

−$836 −$0.26/SF

EGI

$68.9K $21.70/SF

− OpEx

−$17.2K −$5.42/SF

NOI

$51.6K $16.27/SF

Area

Chittenden County, VT

Vacancy

1.20%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,032,960

Cap Rate 7%

$737,829

Cap Rate 9%

$573,867

Alternative Uses

Best Use

Specialty Retail

$737.8K

$645.6K – $860.8K (±1% cap)

NOI $51,648 @ 7.0% cap · market cap 4.49%

Second Best

Apartment 5plus

$443.5K

$388.1K – $517.4K (±1% cap)

NOI $31,046 @ 7.0% cap · market cap 2.70%

Theoretical Best

Office A

$870.6K

$761.8K – $1.02M (±1% cap)

NOI $60,941 @ 7.0% cap · market cap 5.30%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Conventional restaurants

Suggested Use

Top Pick Dental Office Big Box & Wholesale Store Furniture & Home Goods Building Supply Carpet & Flooring Store Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

197

Businesses Nearby

Explore this area Business Placement

Demographics for 05477, VT

4,551

Population

2,111

Households

2.2

Avg Household Size

42

Median Age

64%

College-Educated

98%

High-School Grad

33.4 sq mi

ZIP Area

136

Density / Sq Mi

$118,214

Median Household Income

$58,329

Median Earnings

$1,188

Median Rent

$403,800

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

Two-Story Side-by-Side Duplex

59-61 Church St Unit 2, Richmond, VT 05477

$675,000

2,560 SF

View details

Side-by-Side Duplex With Original Character

2-59-61 Church St, Richmond, VT 05477

$650,000

2,560 SF

View details

Medical Office with Vaulted Ceilings

61 Huntington Road, Richmond, VT 05477

$289,900

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Two-story mixed-use building combining a first-floor restaurant with two second-floor residential units.

Where is this mixed-use property located?

The property is located at 39 Esplanade Richmond, VT.

What is the asking price?

The asking price for this property is $1,150,000.

What are key features of this property?

This property features: Approximately 3,174 SF two‑story building; 0.46 +/- acre site; First‑floor restaurant space