Quadplex with Office
For Sale
$1,365,000
1845 Summer St, Stamford, CT 06905
Mixed-use four-unit property with residential occupancy and an office configuration on Summer Street.
Property Size3,924 SF
Price / SF$347.86
Days on Market172
Property Features for 1845 Summer St
General Information
Standard status
Active
Size
3,924 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
1
Building Details
Year Built
1910
Buildings
1
Tenancy
Multi
Listing Agency:
Realty ONE Group Connect
(203) 590-1111
Listed By:
Monica Osorio · License #RES.0788735
Source:
Themialeteam
Added: Mar 13
Changed: Aug 29
Last Checked: Aug 30 at 8:26PM
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 Realty ONE Group Connect
Investment Insights
Based on property information with market context.
Built in 1910, this 3,924-square-foot building contains four units arranged for mixed-use occupancy. Three units are residential and income-producing, while the remaining unit is configured as office space. The property is positioned on a corner lot along Summer Street in Stamford, with access to downtown, shopping, and public transit. The roof was replaced this year, providing a recently completed capital improvement. Zoning is CL.
Key Highlights
- Four total units, including three residential units and one office unit
- 3,924 SF building constructed in 1910
- Mixed‑use configuration combines residential and office space
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
$75,507
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
5.53%
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%
$1,510,140
$1.5M
Cap Rate 7%
$1,078,671
$1.1M
Cap Rate 9%
$838,967
$839.0K
Market Conditions
NOI Build-Up for 3,924 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
$115.4K $29.40/SF
− Vacancy
−$7.5K −$1.91/SF
EGI
$107.9K $27.49/SF
− OpEx
−$32.4K −$8.25/SF
NOI
$75.5K $19.24/SF
Area
Stamford, CT
Vacancy
6.50%
Lease Rate
$29.40 /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%
$1,510,140
Cap Rate 7%
$1,078,671
Cap Rate 9%
$838,967
Alternative Uses
Best Use
Multifamily LT 5
$1.08M
$943.8K – $1.26M
NOI $75,507 @ 7.0% cap · market cap 5.53%
Second Best
Mixed Use
$977.5K
$855.3K – $1.14M
NOI $68,425 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,317 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,063
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?
Quadplex - Mixed-use four-unit property with residential occupancy and an office configuration on Summer Street.
Where is this quadplex located?
The property is located at 1845 Summer St Stamford, CT.
What is the asking price?
The asking price for this property is $1,365,000.
What are key features of this property?
This property features: Four total units, including three residential units and one office unit; 3,924 SF building constructed in 1910; Mixed‑use configuration combines residential and office space
