Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    38 A Grove Street Ridgefield, CT 06877

    View on Map
    For Lease
    $19 SF/Yr

    COMMERCIAL - Ridgefield, CT

    Property size:
    21,000 SF
    Lot size:
    1.20 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    128
    Last Refresh:
    Apr 1 at 11:06 am

    Property Features for 38 A Grove Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    B2
    Exterior features
    Sidewalk
    Standard status
    Active
    Size
    21,000 SF
    Lot size
    1.20 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Heat Pump (Heating)
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1982
    Floors in Building
    3
    Flooring type
    Concrete

    We can help!

    Listing Contact
    Stephen Ozyck

    Listing agent Stephen Ozyck License #RES.0812354

    Listing office Higgins Group Real Estate 1499 Post Road, Fairfield, CT

    Listing date Nov 24, 2025

    MLS# 24142040

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Ridgefield Office/Medical Building For Rent

    This office and medical building, under new management, is available for rent. The property offers office space suitable for office professionals seeking natural light in a safe and clean location. The building is located in Ridgefield, CT, and has a B2 zoning designation. The property has a size of 21000 square feet and is situated on a 1.2-acre lot.
    Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Similar Places Nearby

    • Ridgefield Animal Hospital — 614 Main St, Ridgefield, CT 06877
    • Quarry Ridge Animal Hospital — 30 Old Quarry Rd, Ridgefield, CT 06877
    • Noah's Ark Animal Hospital — Ridgefield, CT 06877

    Map

    City
    Ridgefield
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.5024
    Latitude
    41.3064

    Nearby Similar for Lease

    • Contact for pricing

      Co-working Office Space Available

      Top-tier co-working space in downtown Ridgefield with various suite sizes.
      90 Grove Street unit: Ste 206 & 207, Ridgefield, CT 06877
      View Details
    • Contact for pricing

      Renovated Victorian Retail/Office Multi-Unit

      Renovated Victorian retail/office space near Ridgefield's Main Street.
      27 Catoonah Street unit: 1St & 2Nd Floor, Ridgefield, CT 06877
      View Details
    • Contact for pricing

      Renovated Victorian Retail/Office Unit

      First floor unit near Main Street with dedicated parking.
      27 Catoonah Street, Ridgefield, CT 06877
      View Details
    • $28/mo

      Executive Office Space in Ridgefield

      First-floor office space in downtown Ridgefield with premium amenities.
      90 Grove Street unit: Ste 108 & 109, Ridgefield, CT 06877
      View Details
    • $28/mo

      Downtown Ridgefield Office Space

      Professional office space in the heart of downtown Ridgefield.
      90 Grove Street unit: Ste 205, Ridgefield, CT 06877
      View Details
    • Sponsored
      Contact for pricing

      Lee Farm Corporate Park

      83 Wooster Heights Rd, Unit 125, Ridgefield, CT 06810
      View Details
    • Contact for pricing

      Renovated Victorian Retail/Office Multi-Unit

      Renovated Victorian retail/office space near Ridgefield's Main Street.
      27 Catoonah Street #1st & 2nd Floor, Ridgefield, CT 06877
      View Details
    • Contact for pricing

      Renovated Victorian Retail/Office Unit

      First floor unit near Main Street with parking and accessibility.
      27 Catoonah Street, Ridgefield, CT 06877
      View Details
    • $28/mo

      Downtown Ridgefield Office Space Available

      Professional office space in downtown Ridgefield with shared amenities.
      90 Grove Street #STE 205, Ridgefield, CT 06877
      View Details
    • Contact for pricing

      Multi-Use Office Space For Rent

      Office space suitable for retail or beauty services.
      38A Grove Street, Ridgefield, CT 06877
      View Details
    • Contact for pricing

      Downtown Ridgefield Co-Working Office

      Top-tier co-working space in downtown Ridgefield, steps from Main Street.
      90 Grove Street #STE 206 & 207, Ridgefield, CT 06877
      View Details
    • Contact for pricing

      Ideal office setting For Lease - $650 to $850/MO

      Well-located office space near Route 7 in Ridgefield, Connecticut.
      641 Danbury Road, Ridgefield, CT 06877
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Office/Medical building available in Ridgefield, CT with upgrades.
    Where is this medical office space located?
    The property is located at 38 A Grove Street Ridgefield, CT.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: New management with upgrades in place.; Suitable for medical/office professionals.; Abundant natural light fills the space.
    (203) 257-1519
    We can help!
    Listing Contact
    Stephen Ozyck
    Real Estate License ID: RES.0812354
    Learn More
    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.
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!