Versatile Commercial Building in
For Sale
$900,000
553-557 Center Street Ext, Bridgeport, CT 06604
3,500 SF building ideal for various business types.
Property Size3,492 SF
Lot Size0.18 Acres
Price / SF$257.14
Days on Market125
Property Features for 553-557 Center Street Ext
General Information
Standard status
Active
Size
3,492 SF
Lot size
0.18 Acres
Property subtype
Commercial
Building Details
Building Size
3,492 SF
Year Built
1981
Listing Agency:
US Asset Realty
(203) 383-9986
Listed By:
Alexia Andrade · License #RES.0815052
(203) 383-9986
Source:
Elliman
Added: Apr 24
Changed: Aug 25
Last Checked: Aug 26 at 9:00AM
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 US Asset Realty
Investment Insights
Based on property information with market context.
This 3,500 square foot single-story commercial building is situated on a 0.18-acre lot in Bridgeport. The property includes on-site parking and is suitable for office, medical, daycare, wellness/fitness, creative studios, or contractor use. It is currently configured as a community center, featuring large open areas and private rooms. The layout can be adapted for various business types. The property is located minutes from Downtown Bridgeport, Route 8/25, I-95, and transit, providing accessibility for clients and staff. It is located in a high-demand mixed-use area. The property has a walk score of 78, indicating it is very walkable, a bike score of 52, indicating it is bikeable, and a transit score of 37, indicating some transit options are available.
Key Highlights
- Prime location in Bridgeport's growing corridor, minutes from Downtown Bridgeport, Route 8/25, and I‑95.
- Versatile 3,500 SF single‑story building suitable for various uses.
- Flexible layout with large open areas and private rooms easily adaptable.
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
$50,715
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
5.64%
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%
$1,014,300
$1.0M
Cap Rate 7%
$724,500
$724.5K
Cap Rate 9%
$563,500
$563.5K
Market Conditions
NOI Build-Up for 3,500 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
$88.2K $25.20/SF
− Vacancy
−$7.1K −$2.02/SF
EGI
$81.1K $23.18/SF
− OpEx
−$30.4K −$8.69/SF
NOI
$50.7K $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%
$1,014,300
Cap Rate 7%
$724,500
Cap Rate 9%
$563,500
Alternative Uses
Best Use
Mixed Use
$724.5K
$633.9K – $845.3K
NOI $50,715 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$999.0K
$874.1K – $1.17M
NOI $69,928 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,761
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 3,500 SF building ideal for various business types.
Where is this mixed-use property located?
The property is located at 553-557 Center Street Ext Bridgeport, CT.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Prime location in Bridgeport's growing corridor, minutes from Downtown Bridgeport, Route 8/25, and I‑95.; Versatile 3,500 SF single‑story building suitable for various uses.; Flexible layout with large open areas and private rooms easily adaptable.
