Building Details

Year Built 1966

Listing Agency: Cannizzaro Real Estate

Listed By: Paul Cannizzaro Show Phone

Source: Vthomesonline

Added: Oct 30, 2025 Changed: Oct 16 Last Checked: Oct 16 at 9:01AM

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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 Cannizzaro Real Estate

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Investment Insights

Based on property information with market context.

This mixed-use property features ten bedrooms across six residential units and two commercial units. It presents an opportunity for investors and owner-users. Rental Housing Fire Safety inspections are complete. The property is positioned for a business owner seeking a visible location with signage, traffic, and self-management. Residential units are rented below market, with most tenants on month-to-month leases. A renovated 1,500-square-foot unit features new flooring, paint, and countertops. The property includes a 3,458-square-foot brick building with four apartments and a 4,672-square-foot wood-frame building with two upstairs apartments and two first-floor commercial spaces with a heated basement and garage door access. The commercial area is divided into offices but can be opened to create a showroom layout. The lot offers 148 feet of frontage on Shelburne Road and 128 feet of depth on Brewer Parkway. The investment package includes vacancy, making it attractive for an owner-user who can occupy approximately 2,334 square feet of commercial space while collecting rent from the six residential units. Onsite parking, visibility with 30,000 CPD, curb appeal, and a signalized intersection are additional features. The location has a bike score of 46, a walk score of 27, and a transit score of 23.

Key Highlights

• Exceptional owner‑user opportunity with 2,334 SF of commercial space available while generating income from six residential units.
• High‑visibility location on Shelburne Road with 148 feet of frontage and strong traffic counts (30,000 CPD).
• Significant income upside potential by increasing residential rents to market rates.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$79,580

Cap Rate

4.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,591,600 $1.6M

Cap Rate 7%

$1,136,857 $1.1M

Cap Rate 9%

$884,222 $884.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,136 SF

Gross rent

$146.4K $18.00/SF

− Vacancy

−$1.8K −$0.22/SF

EGI

$144.7K $17.78/SF

− OpEx

−$65.1K −$8.00/SF

NOI

$79.6K $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%

$1,591,600

Cap Rate 7%

$1,136,857

Cap Rate 9%

$884,222

Alternative Uses

Best Use

Apartment 5plus

$1.14M

$994.8K – $1.33M (±1% cap)

NOI $79,580 @ 7.0% cap · market cap 4.08%

Second Best

Mixed Use

$1.12M

$979.7K – $1.31M (±1% cap)

NOI $78,374 @ 7.0% cap · market cap 4.02%

Theoretical Best

Office A

$2.23M

$1.95M – $2.60M (±1% cap)

NOI $156,211 @ 7.0% cap · market cap 8.01%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Mixed-use properties

Suggested Use

Top Pick Dental Office Building Supply Nail Salon Electrical Service Hair Salon HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

568

Businesses Nearby

Explore this area Business Placement

Demographics for 05403, VT

20,166

Population

9,565

Households

2.1

Avg Household Size

41

Median Age

65%

College-Educated

98%

High-School Grad

16.4 sq mi

ZIP Area

1,230

Density / Sq Mi

$97,041

Median Household Income

$54,362

Median Earnings

$1,755

Median Rent

$399,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Rare mixed-use property with residential and commercial units.

Where is this mixed-use property located?

The property is located at 938-950 Shelburne Road South Burlington, VT.

What is the asking price?

The asking price for this property is $1,950,000.

What are key features of this property?

This property features: Exceptional owner‑user opportunity with **2,334 SF of commercial space available** while generating income from six residential units.; High‑visibility location on Shelburne Road with 148 feet of frontage and strong traffic counts (30,000 CPD).; Significant income upside potential by increasing residential rents to market rates.