Mixed-Use Property With
For Sale
$639,900
Pending
771 Madison Avenue, Bridgeport, CT 06606
Mixed-use building with residential and commercial space, off-street parking, and a two-car garage.
Property Size3,205 SF
Days on Market12
Property Features for 771 Madison Avenue
General Information
Standard status
Pending
Size
3,205 SF
Property subtype
3 Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,784
Building Details
Building Size
3,205 SF
Year Built
1910
Listing Agency:
William Pitt Sotheby's Int'l
(203) 856-8864
Listed By:
David Thommen
(203) 856-8864
Source:
Higginsgroup
Added: Aug 18
Changed: Aug 25
Last Checked: Aug 24 at 3:10PM
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 William Pitt Sotheby's Int'l
Investment Insights
Based on property information with market context.
Built in 1910, this mixed-use property combines three residential units with one commercial unit in a single building. Off-street parking and a two-car garage provide on-site vehicle accommodations. The property is being sold as-is, with future ownership responsible for evaluating conditions, updates, and intended use.
The property is located at 771 Madison Ave in Bridgeport, Connecticut, near shopping and dining described as having high foot traffic. Walk Score is 63, Bike Score is 47, and Transit Score is 36, reflecting somewhat walkable, somewhat bikeable, and some-transit conditions, respectively.
The property is located at 771 Madison Ave in Bridgeport, Connecticut, near shopping and dining described as having high foot traffic. Walk Score is 63, Bike Score is 47, and Transit Score is 36, reflecting somewhat walkable, somewhat bikeable, and some-transit conditions, respectively.
Key Highlights
- 3 residential units and 1 commercial unit
- Two‑car garage and off‑street parking
- Built in 1910
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
$46,440
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
7.26%
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%
$928,800
$928.8K
Cap Rate 7%
$663,429
$663.4K
Cap Rate 9%
$516,000
$516.0K
Market Conditions
NOI Build-Up for 3,205 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
$80.8K $25.20/SF
− Vacancy
−$6.5K −$2.02/SF
EGI
$74.3K $23.18/SF
− OpEx
−$27.9K −$8.69/SF
NOI
$46.4K $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%
$928,800
Cap Rate 7%
$663,429
Cap Rate 9%
$516,000
Alternative Uses
Best Use
Mixed Use
$663.4K
$580.5K – $774.0K
NOI $46,440 @ 7.0% cap · market cap 7.26%
Second Best
Multifamily LT 5
$593.3K
$519.2K – $692.2K
NOI $41,534 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$914.8K
$800.4K – $1.07M
NOI $64,034 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,538
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
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?
Mixed-use property - Mixed-use building with residential and commercial space, off-street parking, and a two-car garage.
Where is this mixed-use property located?
The property is located at 771 Madison Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $639,900.
What are key features of this property?
This property features: 3 residential units and 1 commercial unit; Two‑car garage and off‑street parking; Built in 1910
