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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2 Essex Way Essex Junction, VT 05452-3394

    • Medical offices
    • 12,424 SF
    • 5.87 lot acres
    OFF-MARKET
    Value Estimations
    $1,730,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US89-0321638
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Adult Primary Care - Essex, University of Vermont Medical Center / Physician
    • Alison M. Hall, PA-C, Adult Primary Care Internal Medicine Physician Assistant / Physician
    • Kimberly Swartz Doyle, RD, Registered Dietitian / Physician
    • Chanon Watters, LCMHC, Mental Health Clinician / Medical Clinic
    • Angie Oliver / Physician

    Property Details for 2 Essex Way

    Year built
    2020
    Lot size
    5.87 lot acres
    Property size
    12,424 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    (067) 2091006-001
    APU
    672091006001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,685,000
      Market price range: $813k - $2.52M

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $1,735,000
      Current use
      OFFICE BUILDING
      $1,845,000
      Change: +6% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,495,000
      Change: -14% Conversion: Difficult
      RESTAURANT
      $1,455,000
      Change: -16% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Essex Junction
    County
    Chittenden
    State
    Vermont
    Longitude
    -73.0769
    Latitude
    44.5097
    CBSA code
    15540
    CBSA name
    BURLINGTON-SOUTH BURLINGTON, VT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2021
    $50,277
    $439,800
    $1,689,700
    $2,129,500
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $695,000
      11,220 SF

      87 Main St

      MEDICAL BUILDING • 11,220 SF
      87 Main St, Essex Junction, VT 05452-3234
      View Details
    • Value Estimation by Request
      1,920 SF

      131 Pearl St

      MEDICAL BUILDING • 1,920 SF
      131 Pearl St, Essex Junction, VT 05452-3626
      View Details
    • Value Estimation
      $650,000
      2,842 SF

      68 Maple St

      MEDICAL BUILDING • 2,842 SF
      68 Maple St, Essex Junction, VT 05452-3772
      View Details
    • Value Estimation
      $540,000
      6,463 SF

      89 Main St

      MEDICAL BUILDING • 6,463 SF
      89 Main St, Essex Junction, VT 05452-3207
      View Details
    • Value Estimation
      $1,100,000
      6,380 SF

      15 Pinecrest Dr

      MEDICAL BUILDING • 6,380 SF
      15 Pinecrest Dr, Essex Junction, VT 05452-2935
      View Details
    • Value Estimation by Request
      1,000 SF

      1 Market Pl, Unit 14

      CONDOMINIUM OFFICES • 1,000 SF
      1 Market Pl, Essex Junction, VT 05452-2943
      View Details

    Similar Nearby for Sale

    • $450,000
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      Historic Building on Route 15

      Versatile property suitable for residential or commercial use.
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    • $2,650,000
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      Essex Junction Mixed-Use Investment

      Prime investment opportunity in Essex Junction's vibrant Five Corners.
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    • $1,950,000
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      Industrial Property with Long-Term Tenant

      23,000 SF industrial building with single tenant through 2034.
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    • $450,000
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      Two-Unit Property in Essex Junction

      Two-unit property near Maple Street Park, ideal for owner occupancy.
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    • $750,000
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      Development Opportunity in Essex, VT

      Buildable lot in Price Chopper Plaza with drive-through potential.
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    • New
      $649,000
      2,760 SF

      Mixed-Use Investment in Essex Junction

      Fully leased mixed-use property with redevelopment potential in central Essex Junction.
      50 Pearl St, Essex Junction, VT 05452
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    Similar Nearby for Lease

    • $8 SF/Yr
      38,800 SF

      Spacious Flex/Industrial Space Available

      Large floorplan office, flex, or industrial space for rent.
      19 Thompson Dr, Essex Junction, VT 05452
      View Details
    • $16 SF/Yr
      2,509 SF

      Office Suite Near Essex Experience

      Affordable office suite with eight offices and two conference rooms.
      5 Carmichael St, Essex Junction, VT 05452
      View Details
    • Contact for pricing
      1,500 SF

      Essex Junction Executive Office Suite

      1500 SF Flex Space Available Now
      20 Susie Wilson Rd, Essex Junction, VT 05452
      View Details
    • $12 SF/Yr
      2,800 SF

      Essex Junction Office/R&D Space

      2,800 SF space with AC, overhead door, natural light.
      5 David Dr, Essex Junction, VT 05452
      View Details
    • $22 SF/Yr
      4,861 SF

      New Retail/Office Space Available

      New construction retail/office space in Essex Five Corners.
      17 Park St, Essex, VT 05452
      View Details
    • $5,500 /Mo
      4,899 SF

      Essex Junction Office/Warehouse Space

      Stand-alone office with connected warehouse near Five Corners.
      24 Pearl St, Essex Junction, VT 05452
      View Details
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    2 Essex Way
    Essex Junction, VT 05452-3394
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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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