Automotive Retail Building
For Sale
$1,176,103
1882 Main St, Bridgeport, CT 06601
Leased automotive parts retail facility converted in 2012 and occupied by Advance Auto Parts with a remaining base term.
Property Size7,784 SF
Days on Market31
Property Features for 1882 Main St
General Information
Standard status
Active
Size
7,784 SF
Property subtype
Commercial
Lease Term
±9.75 years
Site & Location
Traffic Count
91,500 vehicles/day
Highway Access
Yes
Building Details
Building Size
7,784 SF
Year Renovated
2012
Listing Agency:
Matthews Real Estate Investment Services | Dallas
(214) 692-2289
Listed By:
Josh Bishop · License #688810 (TX)
(214) 692-2289
Source:
Matthews
Added: Jul 18
Changed: Aug 15
Last Checked: Aug 17 at 3:36AM
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 Matthews Real Estate Investment Services | Dallas
Investment Insights
Based on property information with market context.
This automotive retail building was converted in 2012 from a CarQuest facility and is currently occupied by Advance Auto Parts. The property is positioned for automotive aftermarket retail and includes a lease structure designed to support long-term income visibility.
The site sits just off Hwy 8 with over 91,500 vehicles daily for strong drive-by traffic and visibility. A 5-mile radius includes a population of 282,736, with average household income of $123,839, supporting a sizable customer base for vehicle-related maintenance and aftermarket purchases.
The lease includes 19.75 years remaining on the base term, with two additional 5-year extension options. Advance Auto Parts recently extended the lease early, and the lease is fully guaranteed by Advance Stores Company, Inc. (S&P rated BB).
The site sits just off Hwy 8 with over 91,500 vehicles daily for strong drive-by traffic and visibility. A 5-mile radius includes a population of 282,736, with average household income of $123,839, supporting a sizable customer base for vehicle-related maintenance and aftermarket purchases.
The lease includes 19.75 years remaining on the base term, with two additional 5-year extension options. Advance Auto Parts recently extended the lease early, and the lease is fully guaranteed by Advance Stores Company, Inc. (S&P rated BB).
Key Highlights
- Automotive parts retail facility converted in 2012 for Advance Auto Parts; currently occupied by the tenant.
- Lease has ±9.75 years remaining on the base term with two additional 5‑year extension options.
- Advance Auto Parts recently extended the lease early, reflecting continued commitment to the location.
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
$93,665
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
7.96%
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%
$1,873,300
$1.9M
Cap Rate 7%
$1,338,071
$1.3M
Cap Rate 9%
$1,040,722
$1.0M
Market Conditions
NOI Build-Up for 7,784 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
$140.1K $18.00/SF
− Vacancy
−$6.3K −$0.81/SF
EGI
$133.8K $17.19/SF
− OpEx
−$40.1K −$5.16/SF
NOI
$93.7K $12.03/SF
Area
Bridgeport, CT
Vacancy
4.50%
Lease Rate
$18.00 /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%
$1,873,300
Cap Rate 7%
$1,338,071
Cap Rate 9%
$1,040,722
Alternative Uses
Best Use
Retail
$1.34M
$1.17M – $1.56M
NOI $93,665 @ 7.0% cap · market cap 7.96%
Second Best
Industrial
$1.04M
$914.3K – $1.22M
NOI $73,140 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,521 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
91,500 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,634
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Dunkin' Donuts
Dining
10,732 visits/mo
0.5 miles
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Cool Ride Taxi Cool Ride Transportation LLC — 100 Lorraine St, Bridgeport, CT 06604
- Mario's Auto Sales — 1860 Main St, Bridgeport, CT 06604
- Car service from CT to NYC Cruise- cape liberty — 169 calhoun ave apt.3, bridgeport, ct 06604
- Cars by Devane Gill & Company LLC — 2065 Main St, Bridgeport, CT 06604
- United Rentals — 552 Housatonic Ave, Bridgeport, CT 06604
Frequently Asked Questions
What type of property is this?
Automotive property - Leased automotive parts retail facility converted in 2012 and occupied by Advance Auto Parts with a remaining base term.
Where is this automotive property located?
The property is located at 1882 Main St Bridgeport, CT.
What is the asking price?
The asking price for this property is $1,176,103.
What are key features of this property?
This property features: Automotive parts retail facility converted in 2012 for Advance Auto Parts; currently occupied by the tenant.; Lease has ±9.75 years remaining on the base term with two additional 5‑year extension options.; Advance Auto Parts recently extended the lease early, reflecting continued commitment to the location.
