Office Building with 6
For Sale
$949,000
Pending
17 Hoyt Street, Stamford, CT 06905
Configured with conference rooms, reception space, bathrooms, central air, and on-site parking.
Property Size3,287 SF
Days on Market1726
Property Features for 17 Hoyt Street
General Information
Standard status
Pending
Size
3,287 SF
Property subtype
General Commercial
Amenities
6 offices
2 conference rooms
reception desk
3 bathrooms
Central Air
3
Asphalt
Building Details
Year Built
1897
Listing Agency:
Sotheby's International Realty
(203) 618-3168
Listed By:
James Lacerenza
(203) 618-3168
Source:
Xome
Added: Nov 17, 2021
Changed: Aug 9
Last Checked: Aug 9 at 4:51PM
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 Sotheby's International Realty
Investment Insights
Based on property information with market context.
This office building provides 3,287 square feet of commercial space arranged with six private offices, two conference rooms, a reception desk, and three bathrooms. Central air supports the interior, while asphalt on-site parking serves the property. Built in 1897, the building offers an established office setting with a practical mix of work areas and shared spaces.
The property is positioned between Summer Street and Bedford Street in Stamford, Connecticut. Its existing configuration supports office operations, with the source information also identifying the possibility of expanding or rebuilding to three stories to suit future plans.
The property is positioned between Summer Street and Bedford Street in Stamford, Connecticut. Its existing configuration supports office operations, with the source information also identifying the possibility of expanding or rebuilding to three stories to suit future plans.
Key Highlights
- 3,287‑square‑foot office building constructed in 1897
- Six offices and two conference rooms
- Reception desk and three bathrooms
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
$50,541
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
5.33%
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%
$1,010,820
$1.0M
Cap Rate 7%
$722,014
$722.0K
Cap Rate 9%
$561,567
$561.6K
Market Conditions
NOI Build-Up for 3,287 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
$92.7K $28.20/SF
− Vacancy
−$25.3K −$7.70/SF
EGI
$67.4K $20.50/SF
− OpEx
−$16.8K −$5.13/SF
NOI
$50.5K $15.38/SF
Area
Stamford, CT
Vacancy
27.30%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,010,820
Cap Rate 7%
$722,014
Cap Rate 9%
$561,567
Alternative Uses
Best Use
Office B
$722.0K
$631.8K – $842.4K
NOI $50,541 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,195 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
5,405
Businesses Nearby
Explore this area
Business Placement
Demographics for 06905, CT
21,809
Population
8,726
Households
2.5
Avg Household Size
39
Median Age
62%
College-Educated
95%
High-School Grad
5.1 sq mi
ZIP Area
4,276
Density / Sq Mi
$132,730
Median Household Income
$70,273
Median Earnings
$2,330
Median Rent
$608,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Configured with conference rooms, reception space, bathrooms, central air, and on-site parking.
Where is this office building located?
The property is located at 17 Hoyt Street Stamford, CT.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 3,287‑square‑foot office building constructed in 1897; Six offices and two conference rooms; Reception desk and three bathrooms
