Historic Mixed-Use Property with
For Sale
$349,000
394 VT Route 15, Jericho, VT 05465
Multi-Family, Jericho, VT
Property Size4,401 SF
Lot Size0.34 Acres
Price / SF$123.76
Days on Market141
Property Features for 394 VT Route 15
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
Mixed Use
Bedrooms
1
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Basement, Bedroom 1
Parking features
Driveway, Paved or Surfaced, Off Street
Exterior features
Building, Full Fence, Garden Space, Natural Shade, Outbuilding, Storage
Fencing
Fenced
Appliances
Owned Water Heater, Water Heater
Lot features
Corner, Curbing, Mountain View, Neighbor Business, Sidewalks, Street Lights, View, Near Paths, Near Shopping, Near Public Transport, Near School(s)
Elementary school
Jericho Elementary School
Middle school
Browns River Middle USD #17
High school
Mt. Mansfield USD #17
Elementary school district
Jericho Union Free School District
Middle school district
Jericho Union Free School District
High school district
Jericho Union Free School District
Directions
headed north on Route 15, property on the right side, sign in front of property, parking in parking lot in the rear of building.
Standard status
Active
Size
2,820 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7653
Utilities
Utilities
Cable Available
Heating system
Baseboard, Oil, Forced Air
Water source
Public
Amenities
cathedral ceilings
original stained glass
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Combination, Tile, Laminate, Hardwood, Carpet
Building materials
Wood Frame, Wood Exterior, Wood Siding
Roof type
Slate, Metal
Architectural style
Greek Revival, Ranch
Additional Structures
Outbuilding, Storage
Listing Agency:
KW Vermont · Keller Williams Realty
(802) 654-8500
Listed By:
idENTITY real estate group
(802) 999-8410
Added: Apr 17
Changed: Sep 2
Last Checked: Sep 4 at 6:06AM
MLS# 5084208
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.
Investment Insights
Based on property information with market context.
Built in 1920, this mixed-use property combines a principal building with a separate secondary structure on a 0.34-acre parcel. The main building includes 2,820 square feet of finished space, an open interior arrangement, cathedral ceilings, and original stained-glass features. Wood-frame construction, mixed flooring, forced-air and baseboard heating, and metal and slate roofing add to the property’s physical character. The additional building provides space for office, studio, storage, or other supported uses.
The property is located at 394 VT Route 15 in Jericho and includes 129 feet of frontage along the route. On-site features include paved off-street parking for 6+ vehicles, a 100-amp electrical service, a 1,000 gallon septic system, public water, fencing, garden space, natural shade, and storage. Mixed-use zoning supports a range of commercial and professional applications identified in the property information.
The property is located at 394 VT Route 15 in Jericho and includes 129 feet of frontage along the route. On-site features include paved off-street parking for 6+ vehicles, a 100-amp electrical service, a 1,000 gallon septic system, public water, fencing, garden space, natural shade, and storage. Mixed-use zoning supports a range of commercial and professional applications identified in the property information.
Key Highlights
- 2,820 finished square feet within a 4,401 total‑square‑foot property
- 129' of frontage on VT Route 15
- 0.34‑acre parcel with two buildings
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
$27,165
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
7.78%
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%
$543,300
$543.3K
Cap Rate 7%
$388,071
$388.1K
Cap Rate 9%
$301,833
$301.8K
Market Conditions
NOI Build-Up for 2,820 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
$44.0K $15.60/SF
− Vacancy
−$528 −$0.19/SF
EGI
$43.5K $15.41/SF
− OpEx
−$16.3K −$5.78/SF
NOI
$27.2K $9.63/SF
Area
Chittenden County, VT
Vacancy
1.20%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
37.50%
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%
$543,300
Cap Rate 7%
$388,071
Cap Rate 9%
$301,833
Alternative Uses
Best Use
Retail
$590.8K
$517.0K – $689.3K
NOI $41,359 @ 7.0% cap · market cap 11.85%
Second Best
Mixed Use
$388.1K
$339.6K – $452.8K
NOI $27,165 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$773.5K
$676.8K – $902.4K
NOI $54,144 @ 7.0% cap · market cap 15.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Explore this area
Business Placement
Demographics for 05465, VT
5,587
Population
2,292
Households
2.4
Avg Household Size
45
Median Age
65%
College-Educated
98%
High-School Grad
58.5 sq mi
ZIP Area
96
Density / Sq Mi
$116,786
Median Household Income
$56,870
Median Earnings
$1,721
Median Rent
$460,700
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.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building property with mixed-use zoning, open interiors, and distinctive historic details.
Where is this mixed-use property located?
The property is located at 394 VT Route 15 Jericho, VT.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,820 finished square feet within a 4,401 total‑square‑foot property; 129' of frontage on VT Route 15; 0.34‑acre parcel with two buildings
