Trumbull Professional Center Office
For Sale
$649,900
115 Technology Dr A205, Trumbull, CT 06611
Custom-designed corner office condo in Trumbull Professional Center.
Property Size1,995 SF
Price / SF$325.76
Days on Market152
Property Features for 115 Technology Dr A205
General Information
Standard status
Active
Size
1,995 SF
Property subtype
Commercial
Building Details
Building Size
1,995 SF
Year Built
2005
Listing Agency:
William Raveis Real Estate
(203) 209-3615
Listed By:
Kenny Zerella
(203) 209-3615
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of William Raveis Real Estate
Investment Insights
Based on property information with market context.
This 1,995 square foot corner office condominium is available for sale in the Trumbull Professional Center. The unit features an open office area with plumbing, suitable for medical or dental use, and a flexible layout that can accommodate various professional uses. It includes a private exam room with a sink and cabinetry, an open lab area connected to a compact kitchen with a refrigerator and wall-mounted cabinets, and a private office with built-in cabinetry. A designated file area and pre-wiring for a sound system are also present. The reception area features granite countertops, cabinetry, and modern track lighting. The unit includes a private lavatory with a new toilet. Additional features include LED lighting, solid wood doors, a sprinkler system, and central air conditioning. The property is located minutes from Route 25 Expressway and Route 111, making it suitable for medical, dental, or professional office use.
Key Highlights
- Prime corner location in the prestigious Trumbull Professional Center offering high visibility and professional appeal.
- Versatile layout suitable for medical, dental, or general professional office use.
- Includes a private lavatory, a rare feature in the building.
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
$29,895
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
4.60%
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%
$597,900
$597.9K
Cap Rate 7%
$427,071
$427.1K
Cap Rate 9%
$332,167
$332.2K
Market Conditions
NOI Build-Up for 1,995 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
$53.9K $27.00/SF
− Vacancy
−$4.0K −$2.03/SF
EGI
$49.8K $24.98/SF
− OpEx
−$19.9K −$9.99/SF
NOI
$29.9K $14.99/SF
Area
Bridgeport, CT
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$597,900
Cap Rate 7%
$427,071
Cap Rate 9%
$332,167
Alternative Uses
Best Use
Healthcare Medical
$427.1K
$373.7K – $498.3K
NOI $29,895 @ 7.0% cap · market cap 4.60%
Second Best
Office B
$394.3K
$345.0K – $460.0K
NOI $27,600 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$569.4K
$498.2K – $664.3K
NOI $39,859 @ 7.0% cap · market cap 6.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
794
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 06611, CT
36,835
Population
12,468
Households
3
Avg Household Size
43
Median Age
60%
College-Educated
95%
High-School Grad
23.3 sq mi
ZIP Area
1,581
Density / Sq Mi
$163,227
Median Household Income
$75,795
Median Earnings
$2,292
Median Rent
$495,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Custom-designed corner office condo in Trumbull Professional Center.
Where is this medical office space located?
The property is located at 115 Technology Dr A205 Trumbull, CT.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Prime corner location in the prestigious Trumbull Professional Center offering high visibility and professional appeal.; Versatile layout suitable for medical, dental, or general professional office use.; Includes a private lavatory, a rare feature in the building.
