Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    228-230 Elmwood Ave Burlington, VT 05401
    Back to Search
    Property profile & analytics

    228-230 Elmwood Ave, Burlington, VT 05401

    View on Map
    • Investment properties
    • 0.06 lot acres
    Off-Market
    Last Sale Jun 25, 2021
    $247,075
    Property ID
    US89-0162554
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 228-230 Elmwood Ave

    Lot size
    0.06 lot acres
    Zone code
    RM
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    (035) 044-3-026-000
    APU
    350443026000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Burlington
    County
    Chittenden
    State
    Vermont
    Longitude
    -73.2138
    Latitude
    44.4869
    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
    2022
    $6,838
    $233,200
    $90,400
    $323,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $910,000
      6,760 SF

      100 Nn St, Unit 110

      OFFICE/RESIDENTIAL (MIXED USE)
      100 Nn St, Burlington, VT 05401-5153
      View Details
    • Value Estimation
      $955,000
      7,277 SF

      131 Bank St, Unit 137

      OFFICE/RESIDENTIAL (MIXED USE)
      131 Bank St, Burlington, VT 05401-5886
      View Details
    • Value Estimation
      $1,550,000
      10,783 SF

      71-75 Church St

      OFFICE/RESIDENTIAL (MIXED USE)
      71-75 Church St, Burlington, VT 05401
      View Details
    • Value Estimation
      $750,000
      6,530 SF

      86-88 Church St

      OFFICE/RESIDENTIAL (MIXED USE)
      86-88 Church St, Burlington, VT 05401
      View Details
    • Value Estimation
      $3,875,000
      43,975 SF

      80 Pearl St, Unit 90

      OFFICE/RESIDENTIAL (MIXED USE)
      80 Pearl St, Burlington, VT 05401-4332
      View Details
    • Value Estimation by Request
      2,323 SF

      292 Pearl St

      OFFICE/RESIDENTIAL (MIXED USE)
      292 Pearl St, Burlington, VT 05401-8531
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Mixed-Use Property in Burlington, VT

      Commercial and residential investment property in Burlington's Old North End.
      197-203 North Winooski Ave, Burlington, VT 05401
      View Details
    • $1,180,000

      Renovated Burlington Triplex Near UVM

      Renovated triplex with 11 bedrooms near UVM and downtown.
      6-8 Chase St, Burlington, VT 05401
      View Details
    • $489,000
      2,914 SF

      Downtown Burlington Four-Unit Multifamily Property

      Four-unit multifamily property in downtown Burlington with value-add potential.
      27-29 Lafountain St, Burlington, VT 05401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,412 SF

      Burlington Retail Space For Rent

      Three retail spaces available in a mixed-use facility.
      150 Bank St, Burlington, VT 05401
      View Details
    • Contact for pricing
      1,600 SF

      Historic Office Suite For Rent

      Two-office suite with waiting room near Burlington's waterfront.
      35 King St, Burlington, VT 05401
      View Details
    • Contact for pricing
      2,226 SF

      Downtown Burlington Office Space Available

      Class A office space with lake views in Burlington, VT.
      30 Main St, Burlington, VT 05401
      View Details
    • Contact for pricing
      55,696 SF

      Retail Spaces in New U Mall

      Retail and restaurant spaces available in a busy shopping mall.
      155 Dorset St, Burlington, VT 05401
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    228-230 Elmwood Ave
    Burlington, VT 05401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    228-230 Elmwood Ave, Burlington, VT, 05401
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!