Building Details

Year Built 1917

Listing Agency: William Raveis Real Estate

Listed By: Ed Perez Show Phone

Source: Themialeteam

Added: Jul 20 Changed: Oct 3 Last Checked: Oct 5 at 10:33PM

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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

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,190

Cap Rate

8.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$643,800 $643.8K

Cap Rate 7%

$459,857 $459.9K

Cap Rate 9%

$357,667 $357.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,484 SF

Gross rent

$49.2K $19.80/SF

− Vacancy

−$3.2K −$1.29/SF

EGI

$46.0K $18.51/SF

− OpEx

−$13.8K −$5.55/SF

NOI

$32.2K $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 Rate 5%

$643,800

Cap Rate 7%

$459,857

Cap Rate 9%

$357,667

Alternative Uses

Best Use

Multifamily LT 5

$459.9K

$402.4K – $536.5K (±1% cap)

NOI $32,190 @ 7.0% cap · market cap 8.05%

Second Best

Apartment 5plus

$417.4K

$365.2K – $487.0K (±1% cap)

NOI $29,219 @ 7.0% cap · market cap 7.31%

Theoretical Best

Office A

$709.0K

$620.4K – $827.2K (±1% cap)

NOI $49,629 @ 7.0% cap · market cap 12.41%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Parking Lot & Garage Cafe & Coffee Shop Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

907

Businesses Nearby

Explore this area Business Placement

Demographics for 06607, CT

8,690

Population

2,696

Households

3.2

Avg Household Size

33

Median Age

7%

College-Educated

75%

High-School Grad

1.2 sq mi

ZIP Area

7,242

Density / Sq Mi

$49,555

Median Household Income

$32,000

Median Earnings

$1,398

Median Rent

$218,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 161-163 & 179 Wilmot Ave Bridgeport, CT.

What is the asking price?

The asking price for this property is $399,900.