Triplex with Garage and Fenced
New
For Sale
$634,500
139 Lee Avenue, Bridgeport, CT 06605
Three legal residences include a partly finished lower level, covered patio, and private outdoor space.
Property Size4,000 SF
Days on Market4
Property Features for 139 Lee Avenue
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
2
Property subtype
3 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,623
Amenities
part finished lower level
private fenced yard
garage
covered patio
Building Details
Building Size
4,000 SF
Year Built
1899
Listing Agency:
William Raveis Real Estate
Listed By:
John Hackett · License #REB.0750283
(203) 543-2697
Source:
Higginsgroup
Added: Sep 24
Last Checked: Sep 26 at 2:52PM
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 Raveis Real Estate
Investment Insights
Based on property information with market context.
This 4,000-square-foot triplex, built in 1899, is configured as a legal three-family property. The building includes a partly finished lower level, a private fenced yard, a two-car garage, and a covered patio.
The property is at 139 Lee Avenue in Bridgeport, near Seaside Park, other parks and recreation, shopping, dining, and restaurants. Access to downtown, bus service, Metro-North, I-95, Route 25/8, and the Merritt Parkway is noted.
The property is at 139 Lee Avenue in Bridgeport, near Seaside Park, other parks and recreation, shopping, dining, and restaurants. Access to downtown, bus service, Metro-North, I-95, Route 25/8, and the Merritt Parkway is noted.
Key Highlights
- Legal three‑family property
- 4,000 square feet; built in 1899
- Partly finished lower level
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
$51,836
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
8.17%
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%
$1,036,720
$1.0M
Cap Rate 7%
$740,514
$740.5K
Cap Rate 9%
$575,956
$576.0K
Market Conditions
NOI Build-Up for 4,000 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
$79.2K $19.80/SF
− Vacancy
−$5.1K −$1.29/SF
EGI
$74.1K $18.51/SF
− OpEx
−$22.2K −$5.55/SF
NOI
$51.8K $12.96/SF
Area
Bridgeport, CT
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,036,720
Cap Rate 7%
$740,514
Cap Rate 9%
$575,956
Alternative Uses
Best Use
Multifamily LT 5
$740.5K
$648.0K – $863.9K
NOI $51,836 @ 7.0% cap · market cap 8.17%
Second Best
Apartment 5plus
$672.2K
$588.1K – $784.2K
NOI $47,051 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$1.14M
$999.0K – $1.33M
NOI $79,918 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,302
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three legal residences include a partly finished lower level, covered patio, and private outdoor space.
Where is this triplex located?
The property is located at 139 Lee Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $634,500.
What are key features of this property?
This property features: Legal three‑family property; 4,000 square feet; built in 1899; Partly finished lower level
