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    505 University Ave Bridgeport, CT 06604

    View on Map
    Sponsored
    For Lease
    $19 SF/Yr

    COMMERCIAL - Bridgeport, CT

    Property size:
    22,800 SF
    Lot size:
    2.19 Acres
    Days on Market:
    9
    Last Refresh:
    Mar 11 at 9:06 pm

    Property Features for 505 University Ave

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    Zoning
    MUEM
    Interior features
    Elevator,Public Restrooms
    Exterior features
    Sidewalk,Lighting
    Accessibility
    Accessible Elevator Installed
    Size
    22,800 SF
    Lot size
    2.19 Acres

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Zoned, Central Air
    Water source
    Public

    Building Details

    Year built
    1970

    We can help!

    Listing Contact
    Frank Amodio
    Frank Amodio

    Amodio & Co, LLC (860) 674-8908

    Listing agent Frank Amodio (860) 674-8908

    Listing date Mar 2, 2026

    MLS# 24077933

    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.

    Learn more

    Property Insight Report

    Overview

    Bridgeport Commercial Space for Lease

    This leasing opportunity is located adjacent to the 56-acre University of Bridgeport campus. The nine-story Bernhard tower building offers views of Long Island Sound and the downtown skyline. It is suitable for corporate, artistic, R&D, innovation, life sciences, biotech industries, healthcare research, education, energy, defense, aerospace, manufacturing, or technology companies. Modern offices with flexible sizes and layouts are available, ranging from 1,000 square feet suites to full 5,700 square feet floors, up to 22,800 square feet on 4 floors. The workspaces offer classrooms, conference rooms, open space for individual workstations, and private offices. An ample parking lot is available for tenants, visitors, and guests. The location provides easy access to I-95, Route 8/25, the Merritt Parkway, and the Port Jefferson Ferry to Long Island, NY. It is a short distance to the Metro North train station and Sikorsky Airport, near the Hartford Healthcare Amphitheater and Total Mortgage Arena, and next to Seaside Park with 325 acres of lawns and sports fields, beaches and coastline. Amenities include a conference facility and board room, 900 seat Mertens Theater, 198 seat Littlefield Auditorium, Schelfhaudt Gallery, Innovation Center at Bauer Hall, Co-working Center and networking events, and Marina Hall dining. The lot size is 2.19 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Paier College College

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Dental Office Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bridgeport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.1940101
    Latitude
    41.1637049

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    FAQs

    What type of property is this?
    Office units - Unique leasing opportunity near University of Bridgeport campus.
    Where is this office units located?
    The property is located at 505 University Ave Bridgeport, CT.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: - Flexible office spaces available, ranging from 1,000 sf suites to full 5,700 sf floors, up to 22,800 sf on 4 floors.; - Adjacent to the 56-acre University of Bridgeport campus with access to its amenities.; - Incredible views of Long Island Sound and the downtown skyline.
    (860) 674-8908
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    505 University Ave Bridgeport, CT 06604
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    Bridgeport, CT 06604
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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
    505 University Ave Bridgeport, CT 06604
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    We can help!
    Listing Contact
    Frank Amodio
    Frank Amodio
    Real Estate License ID: REB.0756053
    (860) 674-8908 (860) 996-1605
    Learn more
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