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    Fairfield Industrial Building For Sale Title is generated by Realmo AI

    387 Tunxis Hill Rd, Fairfield, CT

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    21,921 SF industrial building on 1.37 acres for sale.

    Type:RETAIL
    Property size:
    21,921 SF
    Lot size:
    1.40 Acres
    Price / SF:
    $187/SF
    Added:
    Mar 13, 2024
    Days on Market:
    815
    Last Refresh:
    May 20 at 8:46 pm

    Property Features for 387 Tunxis Hill Rd

    General Information

    Standard status
    Active
    Size
    21,921 SF
    Lot size
    1.40 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Jon Angel
    Jon Angel

    Listing agent Jon Angel License #REB.0755898

    Listing office Angel Commercial LLC

    Listing date Mar 13, 2024

    Source Moodyscre

    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 Angel Commercial LLC

    HighLights

    • Prime 1.37‑acre property with a 21,921 SF industrial building in a high‑traffic location.
    • Significant redevelopment potential for retail, mixed‑use, or residential projects (subject to zoning approval).
    • Excellent frontage (407 linear feet on Route 58) and accessibility with three curb cuts.
    • Strategic location near I‑95, Fairfield Metro Train Station, and a bus stop, with proximity to major retailers.
    • Existing two‑story building features a climate‑controlled display room, office space, a service center with high ceilings and drive‑in doors, and ample parking.
    • Zoning in Neighborhood Design District (NDD), Design Commercial District (DCD), and Residential B (B) Zones, offering various use opportunities.

    Overview

    Located at 387 Tunxis Hill Road in Fairfield, CT, this property features a 21,921 SF industrial building on three parcels totaling 1.37 acres. The site is situated along a busy shopping route near a residential area, less than two miles from Fairfield University. The property offers redevelopment potential for retail, mixed-use, or residential projects, subject to zoning approval. It has 407 linear feet of frontage on Route 58 and three curb cuts. Currently used as a car dealership and service center on 1.03 acres, the two-story building includes 87 parking spaces. The first floor features a 2,653 SF climate-controlled display room with floor-to-ceiling windows, 2,128 SF of office space, and an 11,360 SF service center with a 24’ ceiling height and four drive-in doors with drive-through access. It also has an overhead storage platform and a conveyor system. The second floor provides 5,780 SF of space. Two additional parcels at 24 and 42 Soundview Avenue, totaling 0.34 acres, offer parking for 52 vehicles and can be sold separately. The property is located in the Neighborhood Design District (NDD), Design Commercial District (DCD), and Residential B (B) Zones, offering various use opportunities. It is near I-95 (1.2 miles), the Fairfield Metro Train Station (1.6 miles), and a Greater Bridgeport Transit Bus Stop. Nearby neighbors include TJ Maxx, Stop & Shop, Aldi, and Floor & Décor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Scap Auto Group Car Dealership

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairfield
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2304
    Latitude
    41.1764

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    FAQs

    What type of property is this?
    Car wash - 21,921 SF industrial building on 1.37 acres for sale.
    Where is this car wash located?
    The property is located at 387 Tunxis Hill Rd Fairfield, CT.
    What is the asking price?
    The asking price for this property is $4,100,000.
    What are key features of this property?
    This property features: Prime 1.37‑acre property with a 21,921 SF industrial building in a high‑traffic location.; Significant redevelopment potential for retail, mixed‑use, or residential projects (subject to zoning approval).; Excellent frontage (407 linear feet on Route 58) and accessibility with three curb cuts.
    (203) 335-6600 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jon Angel
    Jon Angel
    Real Estate License ID: REB.0755898
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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.

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