Spacious Multifamily Property on
For Sale
$599,900
1211 Park Avenue, Bridgeport, CT 06604
Multifamily property featuring spacious units, hardwood floors, and high ceilings.
Property Size4,348 SF
Price / SF$137.97
Days on Market117
Property Features for 1211 Park Avenue
General Information
Standard status
Active
Size
4,348 SF
Property subtype
2 Family
Building Details
Year Built
1914
Listing Agency:
Houlihan Lawrence WD
(203) 494-7324
Listed By:
Robert Fischer
(203) 494-7324
Source:
Lockandkeyre
Added: May 1
Changed: Aug 25
Last Checked: Aug 25 at 5:44AM
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 Houlihan Lawrence WD
Investment Insights
Based on property information with market context.
The multifamily property at 1211 Park Ave offers an investment opportunity with over 3500 square feet above grade. The property includes over 8 bedrooms across multiple 3-bedroom units. Each unit features large bedrooms, hardwood floors, and high ceilings. Recent updates have enhanced the property's functionality and appeal. Gas heat and gas hot water systems are in place. Commuters benefit from convenient access to I-95, Route 25/8 Connector, and the Merritt Parkway (Route 15). The property size is 4348 square feet.
Key Highlights
- Spacious 3‑bedroom units in this multi‑family property.
- Over 3500 above‑grade SqFt with 8+ bedrooms.
- Recent updates enhance functionality and appeal.
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
$51,145
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
8.53%
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%
$1,022,900
$1.0M
Cap Rate 7%
$730,643
$730.6K
Cap Rate 9%
$568,278
$568.3K
Market Conditions
NOI Build-Up for 4,348 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
$98.1K $22.56/SF
− Vacancy
−$5.1K −$1.17/SF
EGI
$93.0K $21.39/SF
− OpEx
−$41.8K −$9.62/SF
NOI
$51.1K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,022,900
Cap Rate 7%
$730,643
Cap Rate 9%
$568,278
Alternative Uses
Best Use
Multifamily LT 5
$804.9K
$704.3K – $939.1K
NOI $56,346 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$730.6K
$639.3K – $852.4K
NOI $51,145 @ 7.0% cap · market cap 8.53%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,871 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,457
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
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?
Duplex - Multifamily property featuring spacious units, hardwood floors, and high ceilings.
Where is this duplex located?
The property is located at 1211 Park Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Spacious 3‑bedroom units in this multi‑family property.; Over 3500 above‑grade SqFt with 8+ bedrooms.; Recent updates enhance functionality and appeal.
