Mixed-Use Office and Residential
For Sale
$625,000
63 Main St, Essex Junction, VT 05452
Well-preserved mixed-use property with PT treatment space below and a separately entered, two-bedroom rental unit above.
Property Size2,694 SF
Days on Market94
Property Features for 63 Main St
General Information
Standard status
Active
Size
2,694 SF
Total Parking Spaces
2
Property subtype
Commercial
Additional Details
Multifamily Units
2
Building Details
Building Size
2,694 SF
Year Built
1900
Units
2
Listing Agency:
Berkshire Hathaway HomeServices Vermont Realty Group
Listed By:
Warren Palm
(802) 658-5555
Source:
Elliman
Added: Jul 4
Changed: Oct 4
Last Checked: Oct 4 at 11:20AM
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 Berkshire Hathaway HomeServices Vermont Realty Group
Investment Insights
Based on property information with market context.
This stately, well preserved mixed-use building has a thoughtfully updated interior and offers multiple entrances with covered porches and a large green area for frontage. The lower level is currently configured for PT services, including three treatment rooms, a large reception area, and a bright workspace for workout equipment, office and break room use, plus two half bathrooms. The space is in excellent condition and is described as easily amenable to a range of service uses or professional offices.
The property is centrally located just passed 5 corners in an area characterized by a mix of businesses, churches, services, and residential uses. It includes over three entrances and provides off-street parking for two vehicles associated with the upper unit.
On the upper level, there is a large two-bedroom rented apartment with a private entrance, large bright living room, and bedrooms. The setup supports an owner-user concept where the lower level is used for professional or business purposes while the apartment provides rental income, or an owner-occupant option to convert the lower level back to residence by adding a kitchen and a full bathroom. Zoning regulations are described as allowing many different uses for the lower-level area, which may support flexible operating scenarios.
The property is centrally located just passed 5 corners in an area characterized by a mix of businesses, churches, services, and residential uses. It includes over three entrances and provides off-street parking for two vehicles associated with the upper unit.
On the upper level, there is a large two-bedroom rented apartment with a private entrance, large bright living room, and bedrooms. The setup supports an owner-user concept where the lower level is used for professional or business purposes while the apartment provides rental income, or an owner-occupant option to convert the lower level back to residence by adding a kitchen and a full bathroom. Zoning regulations are described as allowing many different uses for the lower-level area, which may support flexible operating scenarios.
Key Highlights
- 1900‑built mixed‑use property with PT treatment space on the lower level and a separately entered 2‑bedroom rental apartment on the upper level
- Lower level includes 3 treatment rooms, a large reception area, a bright work/fitness equipment room, office and break room space, and 2 half bathrooms
- Upper level features a 2‑bedroom rented apartment with a private entrance and off‑street parking for 2 vehicles
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
$43,119
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
6.90%
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%
$862,380
$862.4K
Cap Rate 7%
$615,986
$616.0K
Cap Rate 9%
$479,100
$479.1K
Market Conditions
NOI Build-Up for 2,694 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
$72.7K $27.00/SF
− Vacancy
−$873 −$0.32/SF
EGI
$71.9K $26.68/SF
− OpEx
−$28.7K −$10.67/SF
NOI
$43.1K $16.01/SF
Area
Chittenden County, VT
Vacancy
1.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$862,380
Cap Rate 7%
$615,986
Cap Rate 9%
$479,100
Alternative Uses
Best Use
Healthcare Medical
$616.0K
$539.0K – $718.7K
NOI $43,119 @ 7.0% cap · market cap 6.90%
Second Best
Office B
$540.3K
$472.8K – $630.4K
NOI $37,824 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$738.9K
$646.6K – $862.1K
NOI $51,725 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
605
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Medical Office Space - Well-preserved mixed-use property with PT treatment space below and a separately entered, two-bedroom rental unit above.
Where is this medical office space located?
The property is located at 63 Main St Essex Junction, VT.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 1900‑built mixed‑use property with PT treatment space on the lower level and a separately entered 2‑bedroom rental apartment on the upper level; Lower level includes 3 treatment rooms, a large reception area, a bright work/fitness equipment room, office and break room space, and 2 half bathrooms; Upper level features a 2‑bedroom rented apartment with a private entrance and off‑street parking for 2 vehicles
