Multifamily Property with
For Sale
$1,000,000
23-27 Bishop Avenue, Bridgeport, CT 06607
ORS zoning, a paved driveway, and natural gas baseboard heat are among the property’s documented features.
Property Size5,274 SF
Price / SF$189.61
Days on Market79
Property Features for 23-27 Bishop Avenue
General Information
Standard status
Active
Size
5,274 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
ORS
Taxes and HOA fees
Annual Taxes
$11,932
Amenities
Natural Gas, Baseboard
Full, Partially Finished
Gas Water Heater
Paved, Driveway
Balcony
Units on different Floors
Building Details
Building Size
5,274 SF
Year Built
1913
Listing Agency:
US Asset Realty
Listed By:
Alexia Andrade · License #RES.0815052
(203) 383-9986
Source:
Evrealestate
Added: Jul 27
Changed: Oct 10
Last Checked: Oct 12 at 7:33PM
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 US Asset Realty
Investment Insights
Based on property information with market context.
The multifamily property contains 5,274 square feet and dates to 1913. Interior features include natural gas baseboard heat, a gas water heater, and a full basement that is partially finished. A balcony and units on different floors are also noted.
The property has ORS zoning and a paved driveway.
The property has ORS zoning and a paved driveway.
Key Highlights
- 5,274 square feet; built in 1913
- ORS zoning
- Full basement, partially finished
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,037
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,240,740
$1.2M
Cap Rate 7%
$886,243
$886.2K
Cap Rate 9%
$689,300
$689.3K
Market Conditions
NOI Build-Up for 5,274 SF
Gross rent
$119.0K $22.56/SF
− Vacancy
−$6.2K −$1.17/SF
EGI
$112.8K $21.39/SF
− OpEx
−$50.8K −$9.62/SF
NOI
$62.0K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,240,740
Cap Rate 7%
$886,243
Cap Rate 9%
$689,300
Alternative Uses
Best Use
Apartment 5plus
$886.2K
$775.5K – $1.03M
NOI $62,037 @ 7.0% cap · market cap 6.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,372 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,844
Businesses Nearby
Explore this area
Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - ORS zoning, a paved driveway, and natural gas baseboard heat are among the property’s documented features.
Where is this multifamily property located?
The property is located at 23-27 Bishop Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: 5,274 square feet; built in 1913; ORS zoning; Full basement, partially finished
