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    229 Main St Vergennes, VT 05491
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    Property profile & analytics

    229 Main St, Vergennes, VT 05491

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    • Commercial real estate
    • 6,868 SF
    • 0.10 lot acres
    For Lease
    $17 SF/Yr
    View Listing →
    Second Floor Office Space For Lease
    $17 SF/Yr
    850 SF

    Second Floor Office Space

    Small office space with wood floors and ample windows.

    229 Main St, Vergennes, VT
    View Listing
    Property ID
    US89-0188810
    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
    $830,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 229 Main St

    Year built
    1880
    Lot size
    0.10 lot acres
    Property type
    Commercial real estate
    APN
    (210) 0000260235
    APU
    2100000260235

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $900,000
      ML approach
      $845,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $881,000
      Market price range: $717k - $1.35M
      AI Estimate
      $643,000
      Market price range: $377k - $1.11M

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

    Location Insight

    • Map
    • Local Demand
    City
    Vergennes
    County
    Addison
    State
    Vermont
    Longitude
    -73.2529
    Latitude
    44.1672

    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
    2019
    $13,842
    $84,000
    $466,200
    $550,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3,376 SF

      247 Main St

      COMMERCIAL (GENERAL)
      247 Main St, Vergennes, VT 05491-1001
      View Details
    • Value Estimation by Request
      880 SF

      268 Main St

      COMMERCIAL (GENERAL)
      268 Main St, Vergennes, VT 05491-1026
      View Details
    • Value Estimation by Request
      0.58 Acres

      76 Meigs Rd

      COMMERCIAL (GENERAL)
      76 Meigs Rd, Vergennes, VT 05491-8642
      View Details
    • Value Estimation by Request
      17.23 Acres

      Panton Rd

      COMMERCIAL (GENERAL)
      Panton Rd, Vergennes, VT 05491
      View Details
    • Value Estimation by Request
      2,688 SF

      3074 Jersey St

      COMMERCIAL (GENERAL)
      3074 Jersey St, Panton, VT 05491-9379
      View Details
    • Value Estimation by Request
      0.50 Acres

      865 Kimball Dock Rd

      COMMERCIAL (GENERAL)
      865 Kimball Dock Rd, Vergennes, VT 05491-9052
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      34,900 SF mixed-use property on 6 acres in Vermont.
      11 Main St, Vergennes, VT 05491
      View Details
    • $175,000
      Pending

      Otter Creek Waterfront Building Lot

      6-acre building lot with 600+- feet of Otter Creek frontage.
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    Similar Nearby for Lease

    • Contact for pricing
      17,010 SF

      Retail, Office & Warehouse Space

      Retail, office, and warehouse spaces available for lease.
      1 Main St, Vergennes, VT 05491
      View Details
    • Contact for pricing
      1,050 SF

      Vergennes Retail/Restaurant Space Available

      Retail or restaurant space available in busy Vergennes shopping center.
      2067 Monkton Rd, Vergennes, VT 05491
      View Details
    • Contact for pricing
      850 SF

      Second Floor Office Space

      Small office space with wood floors and ample windows.
      229 Main St, Vergennes, VT 05491
      View Details
    • Contact for pricing
      416 SF

      Main Street Office Suite

      Two-room office suite with private bath and natural light.
      179 Main St, Vergennes, VT 05491
      View Details
    View Listing
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    Vergennes, VT 05491
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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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