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    147 Vt-15 Morristown, VT 05661
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    147 Vt-15 Morristown, VT 05661

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    • Office properties & Spaces
    • 6,000 SF
    • 1.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 147 Vt-15

    Lot size
    1.00 lot acres
    Property size
    6,000 SF
    Property type
    Office properties & Spaces

    Description

    This exceptional single-story office building in Morristown, Vermont, offers a variety of modern, efficient suites ideal for any professional or commercial use. Located at 147 VT-15, zip code 05661, the property boasts excellent visibility and convenient access from Route 15, ensuring high traffic and easy client access. The building's total square footage is 6,000 square feet, situated on one acre of land. Currently, there is one available space ranging from 3,000 to 6,000 square feet, offering flexibility for businesses of various sizes. The building's design prioritizes security and privacy, with suites directly accessible from the sidewalk. Modern aesthetics and efficient layouts make this a highly desirable location. The building's prominent signage on Route 15 ensures easy identification and high visibility for your business. This is a well-maintained, attractive property perfect for establishing a strong professional presence in Morristown. The traditional office space is perfect for a variety of businesses. Don't miss this opportunity to secure your ideal workspace in this highly visible and accessible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Morristown
    County
    Lamoille
    State
    Vermont
    Longitude
    -72.5854
    Latitude
    44.571

    Comparable in this City

    • Value Estimation
      $2,705,000
      9,354 SF

      555 Washington Hwy

      OFFICE (GENERAL) • 9,354 SF
      555 Washington Hwy, Morristown, VT 05661-8972
      View Details
    • Value Estimation by Request
      2,529 SF

      47 Uppr Munson Ave

      OFFICE (GENERAL) • 2,529 SF
      47 Uppr Munson Ave, Morristown, VT 05661
      View Details
    • Value Estimation
      $945,000
      8,100 SF

      530 Washington Hwy

      OFFICE (GENERAL) • 8,100 SF
      530 Washington Hwy, Morristown, VT 05661-8715
      View Details
    • Value Estimation by Request
      3,782 SF

      520 Washington Hwy

      OFFICE (GENERAL) • 3,782 SF
      520 Washington Hwy, Morristown, VT 05661-8973
      View Details
    • Value Estimation by Request
      2,505 SF

      439 Washington Hwy

      OFFICE (GENERAL) • 2,505 SF
      439 Washington Hwy, Morristown, VT 05661-8969
      View Details
    • Value Estimation by Request
      7,166 SF

      54 Farr Ave

      OFFICE (GENERAL) • 7,166 SF
      54 Farr Ave, Morristown, VT 05661-9181
      View Details

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    Morristown, VT 05661
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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