Renovated Triplex Near
For Sale
$1,999,000
225 Washington Boulevard, Stamford, CT 06902
Income-producing triplex with central air, basement space, porch, and laundry hookups in select units.
Property Size4,626 SF
Price / SF$432.12
Days on Market219
Property Features for 225 Washington Boulevard
General Information
Standard status
Active
Size
4,626 SF
Property subtype
Multi-Family / 3 Family
Zoning
RMF
Taxes and HOA fees
Annual Taxes
$15,400
Amenities
No
Baseboard
10
Central Air
Basement Hook-Up(s), Washer/Dryer Some Units
Basement
Porch
Walk to Water
Building Details
Year Built
1900
Listing Agency:
Serhant Connecticut, LLC
(203) 558-4798
Listed By:
Arian Hoxha · License #RES.0815860
(203) 558-4798
Source:
Compass
Added: Jan 24
Changed: Aug 30
Last Checked: Aug 31 at 12:21AM
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 Serhant Connecticut, LLC
Investment Insights
Based on property information with market context.
This triplex at 225 Washington Boulevard is an income-producing property with 4,626 SF and a recent renovation. Interior features include baseboard heating, central air, basement space, and basement washer/dryer hookups serving some units. A porch and walk-to-water setting add to the property’s physical appeal, while RMF zoning supports its multifamily classification. Built in 1900, the property is being offered as-is.
The location provides access to Harbor Point’s waterfront boardwalk, marinas, restaurants, parks, and entertainment options. Metro-North service is approximately 45 minutes from New York City by express train, with Downtown Stamford, Chelsea Piers, UConn Stamford, Stamford Hospital, and major corporate employers also identified nearby. Pro forma projections indicate an estimated 9+ cap rate at market rents.
The location provides access to Harbor Point’s waterfront boardwalk, marinas, restaurants, parks, and entertainment options. Metro-North service is approximately 45 minutes from New York City by express train, with Downtown Stamford, Chelsea Piers, UConn Stamford, Stamford Hospital, and major corporate employers also identified nearby. Pro forma projections indicate an estimated 9+ cap rate at market rents.
Key Highlights
- Triplex with 4,626 SF and recent renovation
- RMF zoning and income‑producing multifamily configuration
- Estimated 9+ cap rate in pro forma projections at market rents
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
$89,015
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
4.45%
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%
$1,780,300
$1.8M
Cap Rate 7%
$1,271,643
$1.3M
Cap Rate 9%
$989,056
$989.1K
Market Conditions
NOI Build-Up for 4,626 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
$136.0K $29.40/SF
− Vacancy
−$8.8K −$1.91/SF
EGI
$127.2K $27.49/SF
− OpEx
−$38.1K −$8.25/SF
NOI
$89.0K $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%
$1,780,300
Cap Rate 7%
$1,271,643
Cap Rate 9%
$989,056
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $89,015 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$1.14M
$995.2K – $1.33M
NOI $79,615 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,085 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 06902, CT
69,192
Population
30,142
Households
2.3
Avg Household Size
36
Median Age
44%
College-Educated
85%
High-School Grad
10.0 sq mi
ZIP Area
6,919
Density / Sq Mi
$92,527
Median Household Income
$48,285
Median Earnings
$2,139
Median Rent
$515,000
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?
Triplex - Income-producing triplex with central air, basement space, porch, and laundry hookups in select units.
Where is this triplex located?
The property is located at 225 Washington Boulevard Stamford, CT.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Triplex with 4,626 SF and recent renovation; RMF zoning and income‑producing multifamily configuration; Estimated 9+ cap rate in pro forma projections at market rents
