Mixed-Use Property with
For Sale
$639,900
Pending
771 Madison Avenue, Bridgeport, CT 06606
Multi-Family For Sale, Units on different Floors, Bridgeport, CT
Property Size3,205 SF
Lot Size0.11 Acres
Days on Market13
Property Features for 771 Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MX1
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 4, Bedroom 5, Basement, Bathroom 2, Bathroom 4, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 3
Parking
4
Basement
Unfinished, Full
Lot features
Level Lot
Elementary school
Geraldine Johnson
High school
Central
Directions
Madison Avenue, Bridgeport between Taft Avenue and McKinley Avenue.
Subdivision
Brooklawn
Standard status
Pending
Size
3,205 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
8784
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
off-street parking
2-car garage
Building Details
Year built
1910
Architectural style
Other
Listing Agency:
William Pitt Sotheby's Int'l · Sotheby's International Realty
(203) 255-9900
Listed By:
David Thommen
(203) 856-8864
Added: Aug 17
Changed: Aug 23
Last Checked: Aug 29 at 8:06AM
MLS# 24198426
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.
Investment Insights
Based on property information with market context.
Located at 771 Madison Avenue in Bridgeport, this mixed-use property contains 3,205 square feet on a 0.11-acre lot. Built in 1910, the building includes residential and commercial space, along with a basement, four bathrooms, and multiple bedrooms. The property is being sold as-is, providing an opportunity for the next owner to evaluate updates and configuration independently.
Off-street parking and a 2-car garage add practical site functionality. Public water and public sewer serve the property, which is positioned near shopping and dining. MX1 zoning applies. The property is in Fairfield County, within the 06606 postal area.
Off-street parking and a 2-car garage add practical site functionality. Public water and public sewer serve the property, which is positioned near shopping and dining. MX1 zoning applies. The property is in Fairfield County, within the 06606 postal area.
Key Highlights
- 3,205 square feet on a 0.11‑acre lot
- Mixed‑use building with residential and commercial space
- 2‑car garage and off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,440
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$928,800
$928.8K
Cap Rate 7%
$663,429
$663.4K
Cap Rate 9%
$516,000
$516.0K
Market Conditions
NOI Build-Up for 3,205 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$80.8K $25.20/SF
− Vacancy
−$6.5K −$2.02/SF
EGI
$74.3K $23.18/SF
− OpEx
−$27.9K −$8.69/SF
NOI
$46.4K $14.49/SF
Area
Bridgeport, CT
Vacancy
8.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$928,800
Cap Rate 7%
$663,429
Cap Rate 9%
$516,000
Alternative Uses
Best Use
Mixed Use
$663.4K
$580.5K – $774.0K
NOI $46,440 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$538.6K
$471.3K – $628.3K
NOI $37,700 @ 7.0% cap · market cap 5.89%
Theoretical Best
Office A
$914.8K
$800.4K – $1.07M
NOI $64,034 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,538
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-use building with off-street parking, a two-car garage, and MX1 zoning.
Where is this mixed-use property located?
The property is located at 771 Madison Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: 3,205 square feet on a 0.11‑acre lot; Mixed‑use building with residential and commercial space; 2‑car garage and off‑street parking
