7-Unit Apartment Property with
For Sale
$1,650,000
76 Ethan Allen Pkwy, Burlington, VT 05408
Mixed residential configuration includes townhouse-style apartments, a separate home, updated interiors, and off-street parking.
Property Size5,798 SF
Price / SF$284.58
Days on Market15
Property Features for 76 Ethan Allen Pkwy
General Information
Standard status
Active
Size
5,798 SF
Building Details
Year Built
1988
Listing Agency:
KW Vermont
(802) 777-5941
Listed By:
Kassian R Prior
Source:
Carolslocum
Added: Aug 14
Changed: Aug 27
Last Checked: Aug 28 at 1:11PM
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 7-unit apartment property, built in 1988, combines six townhouse-style apartments with a separate single-family home. The 5,798-square-foot property includes four units that have received extensive updates over the past several years, including new flooring, kitchens, and paint. An expansive parking area provides off-street parking for residents and visitors.
The property is directly across from Ethan Allen Park, with access to walking trails, scenic overlooks, playgrounds, and open green space. Downtown Burlington, the University of Vermont, the University of Vermont Medical Center, restaurants, shopping, breweries, and the Burlington Bike Path along Lake Champlain are minutes away. Major roadways and public transportation are also readily accessible.
The property is located in the Neighborhood Activity Center Zoning District, which supports consideration of additional redevelopment possibilities. Specific redevelopment details are available upon request.
The property is directly across from Ethan Allen Park, with access to walking trails, scenic overlooks, playgrounds, and open green space. Downtown Burlington, the University of Vermont, the University of Vermont Medical Center, restaurants, shopping, breweries, and the Burlington Bike Path along Lake Champlain are minutes away. Major roadways and public transportation are also readily accessible.
The property is located in the Neighborhood Activity Center Zoning District, which supports consideration of additional redevelopment possibilities. Specific redevelopment details are available upon request.
Key Highlights
- 7‑unit configuration with six townhouse‑style apartments and one separate single‑family home
- 5,798 square feet on the property
- Four units updated with new flooring, kitchens, and paint over the past several years
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
$56,711
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
3.44%
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%
$1,134,220
$1.1M
Cap Rate 7%
$810,157
$810.2K
Cap Rate 9%
$630,122
$630.1K
Market Conditions
NOI Build-Up for 5,798 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
$104.4K $18.00/SF
− Vacancy
−$1.3K −$0.22/SF
EGI
$103.1K $17.78/SF
− OpEx
−$46.4K −$8.00/SF
NOI
$56.7K $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 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%
$1,134,220
Cap Rate 7%
$810,157
Cap Rate 9%
$630,122
Alternative Uses
Best Use
Apartment 5plus
$810.2K
$708.9K – $945.2K
NOI $56,711 @ 7.0% cap · market cap 3.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,322 @ 7.0% cap · market cap 6.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 05408, VT
10,425
Population
4,455
Households
2.3
Avg Household Size
44
Median Age
55%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,606
Density / Sq Mi
$98,656
Median Household Income
$52,934
Median Earnings
$1,573
Median Rent
$369,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed residential configuration includes townhouse-style apartments, a separate home, updated interiors, and off-street parking.
Where is this apartment building located?
The property is located at 76 Ethan Allen Pkwy Burlington, VT.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 7‑unit configuration with six townhouse‑style apartments and one separate single‑family home; 5,798 square feet on the property; Four units updated with new flooring, kitchens, and paint over the past several years
