Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    240 Milbank Ave, Unit 2 Greenwich, CT 06830

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $5,450 /Mo ($21 SF/Yr)

    Duplex with hardwood floors, eat-in kitchen, and in-unit laundry.

    Property size:
    3,019 SF
    Lot size:
    3,019 SF

    Property Features for 240 Milbank Ave

    General Information

    Size
    3,019 SF

    Building Details

    Year built
    1897

    We can help!

    Listing Contact
    Patricia Galente
    Source: Kw

    Listing Agent: Patricia Galente

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Immaculate Duplex Near Greenwich Avenue

    This duplex features 2 bedrooms and 2 bathrooms. It includes hardwood floors, an eat-in kitchen, and a washer and dryer within the unit. A garage and deck are included. The property is located within walking distance of the train and Greenwich Avenue.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Food Market Grocery Store Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greenwich
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.623019
    Latitude
    41.0263506

    Nearby Similar for Lease

    • $105 SF/Yr
      7,125 SF

      Greenwich Office Space For Rent

      Prime Greenwich office space with flexible floor plans and modern amenities.
      33 Benedict Pl, Greenwich, CT 06830
      View Details
    • $6,950 /Mo

      Luxury Residences with Exclusive Amenities

      Exclusive residences with concierge, valet parking, and fitness center.
      1188 King St, Greenwich, CT 06831
      View Details
    • $8,000 /Mo

      New Townhouse Near Glenville Amenities

      Four-level, three-bedroom townhouse with modern amenities and convenient location.
      10 Highland Pl, Greenwich, CT 06831
      View Details
    • $7,400 /Mo

      New Luxury Residences in Greenwich

      Boutique-style residences with modern amenities in a convenient location.
      100 E Putnam Ave, Greenwich, CT 06807
      View Details
    • $6,910 /Mo

      Spacious Townhome with Resort-Style Amenities

      Three-bedroom townhome with pool, fitness center, and convenient location.
      251 Weaver St, Greenwich, CT 06831
      View Details
    • Contact for pricing
      80,784 SF

      Greenwich Ave Office/Retail Space

      Prime Greenwich location, 80K+ SF, divisible.
      3 Pickwick Plz, Greenwich, CT 06830
      View Details
    • $2,000 /Mo

      Renovated Studio Apartment in Greenwich

      Updated studio near transportation, shopping, and parks in Greenwich.
      79 Hamilton Ave, Greenwich, CT 06830
      View Details
    • $6,892 /Mo
      2,363 SF

      Greenwich Medical Office For Lease

      Medical office space in a thriving Greenwich community.
      7 Riversville Rd, Greenwich, CT 06831
      View Details
    • Contact for pricing
      551 SF

      Prime Greenwich Retail/Office Space

      Retail or office space in a prime downtown location.
      79 E Putnam Ave, Greenwich, CT 06830
      View Details
    • Contact for pricing
      3,557 SF

      Greenwich Ave Retail Space Available

      Prime Greenwich retail space, 3,557 sq ft.
      267 Greenwich Ave, Greenwich, CT 06830
      View Details
    • $2,500 /Mo

      Downtown Glenville Private Office Space

      Prime office space in downtown Glenville with easy access.
      263 Glenville Rd, Greenwich, CT 06831
      View Details
    • $1,750 /Mo

      Downtown Glenville Private Office Space

      Private office space in downtown Glenville with parking.
      263 Glenville Rd, Greenwich, CT 06831
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex with hardwood floors, eat-in kitchen, and in-unit laundry.
    Where is this duplex located?
    The property is located at 240 Milbank Ave, Unit 2 Greenwich, CT.
    What is the lease rate?
    The lease rate is $21 SF/Yr.
    What are key features of this property?
    This property features: - Walk to train and Greenwich Avenue; - Two bedroom, two bath duplex; - Garage included
    Request Owner's contact information
    240 Milbank Ave, Unit 2 Greenwich, CT 06830
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    240 Milbank Ave, Unit 2
    Greenwich, CT 06830
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    240 Milbank Ave, Unit 2 Greenwich, CT 06830
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Patricia Galente
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.