Two-Building Office
For Sale
Contact for pricing
478 Blair Park Rd, Williston, VT 05495
Remodeled office campus with flexible work areas, dedicated parking, and municipal utilities in place.
Property Size7,744 SF
Price / SF$219.52
Days on Market51
Property Features for 478 Blair Park Rd
General Information
Standard status
Active
Size
7,744 SF
Property subtype
OFFICE
Listing Agency:
V/T Commercial
(802) 864-2000
Listed By:
Tony Blake
(802) 343-0119
Source:
Moodyscre
Added: Jul 30
Changed: Sep 8
Last Checked: Sep 16 at 2:37PM
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.
This office property comprises two buildings totaling 7,744 square feet on a 1.75-acre lot. The primary structure is a three-story, 1984 wood-frame building updated with Hardy Board siding, Marvin windows, heat pumps in most rooms, and a standing-seam metal roof. Interior features include individual offices, conference space, administrative areas, a kitchenette with dishwasher, multiple bathrooms, and a shower. A front deck and rear patio provide additional staff and meeting areas.
The separate 1,344-square-foot, two-story building was designed for garage, dry-storage, and office use. The site has municipal water and sewer, parking for 25 vehicles, a ChargePoint dual-port DC charger, 240 V/600 amps of single-phase power, and a wet sprinkler system. The parcel provides 432 feet of frontage on Blair Park Rd and is near Interstate 89 Exit 12. The property is currently occupied under a lease extending through Feb 2027 and is offered in as-is condition; the garage-to-office conversion is not fully complete.
The separate 1,344-square-foot, two-story building was designed for garage, dry-storage, and office use. The site has municipal water and sewer, parking for 25 vehicles, a ChargePoint dual-port DC charger, 240 V/600 amps of single-phase power, and a wet sprinkler system. The parcel provides 432 feet of frontage on Blair Park Rd and is near Interstate 89 Exit 12. The property is currently occupied under a lease extending through Feb 2027 and is offered in as-is condition; the garage-to-office conversion is not fully complete.
Key Highlights
- Two buildings totaling 7,744 SF on a 1.75‑acre lot
- Primary three‑story office building constructed in 1984 and recently remodeled
- Separate 1,344 SF two‑story garage, dry‑storage, and office building
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
$108,726
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
6.40%
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%
$2,174,520
$2.2M
Cap Rate 7%
$1,553,229
$1.6M
Cap Rate 9%
$1,208,067
$1.2M
Market Conditions
NOI Build-Up for 7,744 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
$185.9K $24.00/SF
− Vacancy
−$40.9K −$5.28/SF
EGI
$145.0K $18.72/SF
− OpEx
−$36.2K −$4.68/SF
NOI
$108.7K $14.04/SF
Area
Chittenden County, VT
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$2,174,520
Cap Rate 7%
$1,553,229
Cap Rate 9%
$1,208,067
Alternative Uses
Best Use
Office B
$1.55M
$1.36M – $1.81M
NOI $108,726 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.12M
$1.86M – $2.48M
NOI $148,685 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
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Business Placement
Demographics for 05495, VT
10,897
Population
5,070
Households
2.1
Avg Household Size
44
Median Age
56%
College-Educated
96%
High-School Grad
34.3 sq mi
ZIP Area
318
Density / Sq Mi
$105,768
Median Household Income
$60,590
Median Earnings
$1,752
Median Rent
$431,600
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Remodeled office campus with flexible work areas, dedicated parking, and municipal utilities in place.
Where is this office building located?
The property is located at 478 Blair Park Rd Williston, VT.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Two buildings totaling 7,744 SF on a 1.75‑acre lot; Primary three‑story office building constructed in 1984 and recently remodeled; Separate 1,344 SF two‑story garage, dry‑storage, and office building
