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

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

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

Current Use

Duplexes

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

Questions? Ask Rey

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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.