Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    48 Reef Rd Fairfield, CT 06824

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,050 /Mo

    Office space in the heart of Fairfield center, utilities included.

    Lot size:
    0.12 Acres

    Property Features for 48 Reef Rd

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.12 Acres

    Building Details

    Year built
    1908

    We can help!

    Listing Contact
    Douglas Munson
    Source: Elliman

    Listing Agency: Munson Real Estate Listing Agent: Douglas Munson

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Office Space in Fairfield Center

    This office space is located in the heart of Fairfield center, convenient to the train station, public transportation, and I-95. The location offers proximity to summer concerts. The office features a large room, a full bath, and a kitchenette. Utilities are included. One parking space may be available. This space is suitable for a small business.
    Location Intelligence

    Current Use by Public Records

    Demetri's Barber Shop Barber Shop Munson Real Estate Real Estate Agency Initial Reaction LLC Professional Services No. 299 Design ... Home Decor Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Fairfield
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2573884
    Latitude
    41.1403087

    Nearby Similar for Lease

    • $7,950 /Mo
      1,535 SF

      Charming Southport Harbor Office Space

      Charming 1535 SF office space with harbor views.
      656 Harbor Rd, Fairfield, CT 06890
      View Details
    • $1,800 /Mo
      1,030 SF

      Fairfield Commercial Space For Lease

      Open floor plan in the heart of Fairfield, Connecticut.
      61 Sherman St Unit, Fairfield, CT 06824
      View Details
    • New
      $1,450 /Mo
      800 SF

      Fairfield Center Office Space

      Second floor office unit in high-traffic Fairfield Center location.
      25 South Benson Rd, Fairfield, CT 06824
      View Details
    • $35 SF/Yr
      2,700 SF

      Greenfield Hill Medical/Professional Space

      Customizable medical/professional space in desirable Fairfield location with ample parking.
      186 Hillside Rd, Fairfield, CT 06824
      View Details
    • $3,000 /Mo
      1,008 SF

      Luxury Office Space in Fairfield

      In-town luxury office space near downtown Fairfield's amenities.
      45 Sherman St, Fairfield, CT 06824
      View Details
    • $825 /Mo
      320 SF

      Light Filled Office Near Station

      Office space near Fairfield Center, train station, and restaurants.
      51 Sherman St, Fairfield, CT 06824
      View Details
    • $2,000 /Mo

      Fairfield Office Suite For Lease

      Professional office suite in well-kept building with recent upgrades.
      1100 Kings Hwy, Fairfield, CT 06825
      View Details
    • $6,000 /Mo
      3,315 SF

      Fairfield Retail Space Available

      Turnkey retail space suitable for various business ventures.
      1342 Kings Highway Cutoff, Fairfield, CT 06824
      View Details
    • $3,000 /Mo

      Tudor Style Office Space

      Office space in Tudor-style house, close to transportation.
      433 Meadow St, Fairfield, CT 06824
      View Details
    • $1,700 /Mo

      Renovated Office Suite For Rent

      Renovated 3-room office suite with high visibility and traffic.
      1511 Black Rock Tpke, Fairfield, CT 06825
      View Details
    • $1,200 /Mo

      Three-Room Office Space Available

      Office space with reception, two offices, parking, and accessibility.
      433 Meadow St, Fairfield, CT 06824
      View Details
    • $775 /Mo

      Professional Office Space Available

      Premier office suites for rent in high-traffic Fairfield location.
      883 Black Rock Tpke, Fairfield, CT 06825
      View Details

    FAQs

    What type of property is this?
    Office units - Office space in the heart of Fairfield center, utilities included.
    Where is this office units located?
    The property is located at 48 Reef Rd Fairfield, CT.
    What is the lease rate?
    The lease rate is $1,050 /Mo.
    What are key features of this property?
    This property features: - Prime location in the heart of Fairfield center, steps away from summer concerts.; - Convenient access to the train station, public transportation, and I-95.; - Full bath and kitchenette included.
    (203) 255-0700
    Request Owner's contact information
    48 Reef Rd Fairfield, CT 06824
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    48 Reef Rd
    Fairfield, CT 06824
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    48 Reef Rd Fairfield, CT 06824
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Douglas Munson
    (203) 255-0700
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!