Mixed-Use Buildings on Main
For Sale
Contact for pricing
Pending
2038 Main Street, Bridgeport, CT 06604
Mixed-use buildings with residential and retail spaces in Bridgeport, CT.
Property Size9,373 SF
Days on Market104
Property Features for 2038 Main Street
General Information
Standard status
Pending
Size
9,373 SF
Total Parking Spaces
7
Property subtype
Retail, Multifamily
Occupancy
81%
Lease Type
Modified Gross
Investment Type
Value Add
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Baldwin Pearson & Company
(203) 335-5117
Listed By:
Daniel Shawah · License #RES.0829215
Source:
Crexi
Added: May 18
Changed: Aug 8
Last Checked: Jul 24 at 1:44PM
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 Baldwin Pearson & Company
Investment Insights
Based on property information with market context.
The offering includes two adjacent brick mixed-use buildings located on a high-visibility block along Bridgeport's Main Street corridor. Together, the properties comprise seven residential units and four occupied ground-floor retail spaces. The property provides a blend of residential upside and in-place commercial income. A rear parking lot is included.
Key Highlights
- Rare investment opportunity in a dynamic Connecticut real estate market.
- Consists of two adjacent brick mixed‑use buildings on a high‑visibility, heavily trafficked block.
- Offers a blend of value‑add residential upside and stable, in‑place commercial income.
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
$135,815
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
9.05%
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%
$2,716,300
$2.7M
Cap Rate 7%
$1,940,214
$1.9M
Cap Rate 9%
$1,509,056
$1.5M
Market Conditions
NOI Build-Up for 9,373 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
$236.2K $25.20/SF
− Vacancy
−$18.9K −$2.02/SF
EGI
$217.3K $23.18/SF
− OpEx
−$81.5K −$8.69/SF
NOI
$135.8K $14.49/SF
Area
Bridgeport, CT
Vacancy
8.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
37.50%
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%
$2,716,300
Cap Rate 7%
$1,940,214
Cap Rate 9%
$1,509,056
Alternative Uses
Best Use
Mixed Use
$1.94M
$1.70M – $2.26M
NOI $135,815 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$1.58M
$1.38M – $1.84M
NOI $110,253 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$2.68M
$2.34M – $3.12M
NOI $187,268 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,624
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 - Mixed-use buildings with residential and retail spaces in Bridgeport, CT.
Where is this mixed-use property located?
The property is located at 2038 Main Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Rare investment opportunity in a dynamic Connecticut real estate market.; Consists of two adjacent brick mixed‑use buildings on a high‑visibility, heavily trafficked block.; Offers a blend of value‑add residential upside and stable, in‑place commercial income.
