Corner-Lot Multifamily
For Sale
$639,000
44-46 Sherman Street, Burlington, VT 05401
Multi-unit property with long-term tenants and views toward Lake Champlain and the Adirondack Mountains.
Property Size2,976 SF
Price / SF$214.72
Days on Market80
Property Features for 44-46 Sherman Street
General Information
Standard status
Active
Size
2,976 SF
Property subtype
Multi-Family
Zoning
Residential- Medium Dens
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$12,413
Building Details
Year Built
1899
Stories
2
Listing Agency:
KW Vermont
(802) 760-9815
Listed By:
Louise Johnson
(802) 373-0759
Source:
Churchillprop
Added: Jul 27
Changed: Oct 10
Last Checked: Oct 12 at 6:18PM
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 KW Vermont
Investment Insights
Based on property information with market context.
This multifamily property contains 2,976 square feet and was built in 1899. The multi-unit configuration includes long-term tenants, while the corner-lot setting provides views of Lake Champlain and the New York Adirondack Mountains.
The property is positioned in downtown Burlington with public transportation, sidewalks, a recreational path, and waterfront events outside the door. Shopping, dining, the University of Vermont, and the UVM Medical Center are also readily accessible from the property.
The property is positioned in downtown Burlington with public transportation, sidewalks, a recreational path, and waterfront events outside the door. Shopping, dining, the University of Vermont, and the UVM Medical Center are also readily accessible from the property.
Key Highlights
- 2,976‑square‑foot multifamily property
- Built in 1899
- Corner‑lot setting with views of Lake Champlain and the New York Adirondack Mountains
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,109
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,180
$582.2K
Cap Rate 7%
$415,843
$415.8K
Cap Rate 9%
$323,433
$323.4K
Market Conditions
NOI Build-Up for 2,976 SF
Gross rent
$53.6K $18.00/SF
− Vacancy
−$643 −$0.22/SF
EGI
$52.9K $17.78/SF
− OpEx
−$23.8K −$8.00/SF
NOI
$29.1K $9.78/SF
Area
Chittenden County, VT
Vacancy
1.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,180
Cap Rate 7%
$415,843
Cap Rate 9%
$323,433
Alternative Uses
Best Use
Apartment 5plus
$415.8K
$363.9K – $485.2K
NOI $29,109 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$816.3K
$714.2K – $952.3K
NOI $57,139 @ 7.0% cap · market cap 8.94%
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
3,201
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 Multifamily 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?
Multifamily property - Multi-unit property with long-term tenants and views toward Lake Champlain and the Adirondack Mountains.
Where is this multifamily property located?
The property is located at 44-46 Sherman Street Burlington, VT.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: 2,976‑square‑foot multifamily property; Built in 1899; Corner‑lot setting with views of Lake Champlain and the New York Adirondack Mountains
