Mixed-Use Corner Building with
For Sale
$975,000
2-10 West Avenue, Bridgeport, CT 06604
Corner mixed-use building with a bar and pool hall plus four occupied rental units.
Property Size6,488 SF
Days on Market45
Property Features for 2-10 West Avenue
General Information
Standard status
Active
Size
6,488 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$10,352
Building Details
Building Size
6,488 SF
Year Built
1907
Listing Agency:
Real Estate Two
(203) 522-2165
Listed By:
Sandra Ramalhete (203) 522-2165
Source:
Higginsgroup
Added: Jul 15
Changed: Aug 24
Last Checked: Aug 26 at 2:33PM
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 Real Estate Two
Investment Insights
Based on property information with market context.
This corner mixed-use property includes a first-floor bar and pool hall and four fully occupied rental units on the upper floors. The bar and pool hall space is described as an established, turnkey business opportunity, with a fully finished basement that can support operations and storage.
The residential component consists of four rental units: Units 1 and 2 are 3-bedroom, 1-bath apartments, and Units 3 and 4 are 2-bedroom, 1-bath apartments. The property also includes a detached 2-car garage and a private, fenced backyard. The building is located within a Federal Opportunity Zone and is noted as minutes from I-95, Route 8, the Bridgeport Train Station, and Steelpoint Harbor.
Additional nearby convenience factors noted in the materials include walkability and some transit access, along with bikeability.
The residential component consists of four rental units: Units 1 and 2 are 3-bedroom, 1-bath apartments, and Units 3 and 4 are 2-bedroom, 1-bath apartments. The property also includes a detached 2-car garage and a private, fenced backyard. The building is located within a Federal Opportunity Zone and is noted as minutes from I-95, Route 8, the Bridgeport Train Station, and Steelpoint Harbor.
Additional nearby convenience factors noted in the materials include walkability and some transit access, along with bikeability.
Key Highlights
- 4,800+ SF corner mixed‑use building built in 1907 with bar and pool hall on the first floor plus four occupied rental units
- First‑floor business space features an available bar and pool hall designed for low operational overhead and minimal maintenance (ready for lease)
- Upper floors include four fully occupied rental units: Units 1 & 2 are 3 bed / 1 bath; Units 3 & 4 are 2 bed / 1 bath
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
$89,690
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
9.20%
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%
$1,793,800
$1.8M
Cap Rate 7%
$1,281,286
$1.3M
Cap Rate 9%
$996,556
$996.6K
Market Conditions
NOI Build-Up for 6,488 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
$124.6K $19.20/SF
− Vacancy
−$5.0K −$0.77/SF
EGI
$119.6K $18.43/SF
− OpEx
−$29.9K −$4.61/SF
NOI
$89.7K $13.82/SF
Area
Bridgeport, CT
Vacancy
4.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$1,793,800
Cap Rate 7%
$1,281,286
Cap Rate 9%
$996,556
Alternative Uses
Best Use
Mixed Use
$1.34M
$1.18M – $1.57M
NOI $94,011 @ 7.0% cap · market cap 9.64%
Second Best
Specialty Retail
$1.28M
$1.12M – $1.49M
NOI $89,690 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,627 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,750
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner mixed-use building with a bar and pool hall plus four occupied rental units.
Where is this mixed-use property located?
The property is located at 2-10 West Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 4,800+ SF corner mixed‑use building built in 1907 with bar and pool hall on the first floor plus four occupied rental units; First‑floor business space features an available bar and pool hall designed for low operational overhead and minimal maintenance (ready for lease); Upper floors include four fully occupied rental units: Units 1 & 2 are 3 bed / 1 bath; Units 3 & 4 are 2 bed / 1 bath
