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    Property profile & analytics

    2242 North Main St Londonderry, VT 05148

    • Commercial real estate
    • 15,874 SF
    • 2.40 lot acres
    For Sale
    View listing
    $250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US89-0200072
    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

    • Commercial real estate

    Property Details for 2242 North Main St

    Year built
    1840
    Lot size
    2.40 lot acres
    Property size
    15,874 SF
    Property type
    Commercial real estate
    APN
    (110) 102023
    APU
    110102023

    Description

    This iconic 1840 post-and-beam structure, the Mill Tavern, is available for purchase for the first time in decades. Located at 2242 North Main Street, Londonderry, VT, this 15,874 square foot building sits on a 2.4-acre lot at the intersection of Route 11 and scenic Route 100, a prime location benefiting from high traffic volume, especially during peak foliage season. Previously a 170-seat restaurant and lounge popular with second-home owners and tourists visiting nearby ski resorts, the Mill Tavern offers significant potential for redevelopment. While retaining its original charm, the property requires substantial repairs, including a new roof and interior renovations to address flood damage. The building's historical significance and location present a unique opportunity for an investor or entrepreneur with a vision to restore this landmark to its former glory. Historically operating only during winter months, the business could significantly increase revenue with year-round operation. This is a cash sale only

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $900,000
      Market price range: $900k - $3.04M
      AI Estimate
      $884,000
      Market price range: $884k - $2.55M

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

    Location Insight

    • Map
    • Local Demand
    City
    Londonderry
    County
    Windham
    State
    Vermont
    Longitude
    -72.8091
    Latitude
    43.227

    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
    2022
    $4,810
    $81,000
    $158,300
    $239,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      216 SF

      2212 Main St

      COMMERCIAL (GENERAL) • 216 SF
      2212 Main St, Londonderry, VT 05148
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    • Value Estimation by Request
      816 SF

      2296 Main St

      COMMERCIAL (GENERAL) • 816 SF
      2296 Main St, Londonderry, VT 05148
      View Details
    • Value Estimation by Request
      3,600 SF

      2102 Main St

      COMMERCIAL (GENERAL) • 3,600 SF
      2102 Main St, Londonderry, VT 05148
      View Details
    • Value Estimation by Request
      1,560 SF

      2826 Vt Rte 100

      COMMERCIAL (GENERAL) • 1,560 SF
      2826 Vt Rte 100, Londonderry, VT 05148
      View Details
    • Value Estimation by Request
      100.00 Acres

      3067 Hapgood Pond Rd

      COMMERCIAL (GENERAL) • 100.00 Acres
      3067 Hapgood Pond Rd, Londonderry, VT 05148
      View Details
    • Value Estimation by Request
      3,003 SF

      3928 Vt Rte 11

      COMMERCIAL (GENERAL) • 3,003 SF
      3928 Vt Rte 11, Londonderry, VT 05148
      View Details

    Similar Nearby for Sale

    • $2,099,000
      9,730 SF

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    • $395,000
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      Commercial Property with Historic Waterwheel

      Commercial property on 5 acres with endless possibilities in Vermont.
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    • $350,000
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      Completely rebuilt commercial building suitable for residential or live/work setup.
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    • $250,000
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      Commercial Land in Londonderry, VT

      Commercial land with potential for renovation in Londonderry, VT.
      2296 North Main St, Londonderry, VT 05148
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    • $250,000
      2.40 Acres

      Historic Mill Tavern Opportunity

      Charming restaurant space in need of repairs, great potential.
      2242 North Main St, Londonderry, VT 05148
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    2242 North Main St
    Londonderry, VT 05148
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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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