Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Immaculate Duplex Near Greenwich Avenue Title is generated by Realmo AI

    240 Milbank Avenue #2, Greenwich, CT 06830

    View on Map
    Claim this Listing
    For Lease
    $5,250/Mo $20 SF/Yr (calc)

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

    Type:Multi-Family
    Property size:
    3,019 SF
    Added:
    Aug 21, 2025
    Days on Market:
    285
    Last Refresh:
    May 19 at 10:30 pm

    Property Features for 240 Milbank Avenue #2

    General Information

    Standard status
    Active
    Size
    3,019 SF
    Property subtype
    Multi-Family

    Building Details

    Year Built
    1897

    We can help!

    Listing Contact
    COLDWELL BANKER REALTY
    COLDWELL BANKER REALTY

    Listing agent COLDWELL BANKER REALTY License #0241299

    Listing office COLDWELL BANKER REALTY

    Listing date Aug 21, 2025

    Source Kw

    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 COLDWELL BANKER REALTY

    HighLights

    • Walk to train and Greenwich Avenue
    • Two bedroom, two bath duplex
    • Garage included
    • Hardwood floors throughout
    • Eat‑in kitchen
    • Washer/dryer in unit

    Overview

    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 Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Pharmacy

    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

    • Sponsored
      $129-$9,166/Mo
      11-1,292 SF

      CT, Greenwich - W Putnam Ave

      177 Putnam Ave, Greenwich, CT 06831
      View Details
    • $129-$6,967/Mo
      11-1,292 SF

      Greenwich

      500 Putnam Ave, Unit 400, Greenwich, CT 06831
      View Details
    • $1,638/Mo
      20,000 SF

      Professional Office Space for Rent

      20,000 sq ft of flexible office space for rent.
      200 pemberwick Rd, Greenwich, CT 06831
      View Details
    • $1,638/Mo
      40,000 SF

      Professional Office Space for Rent

      20,000 sq ft of flexible office rentals available.
      200 pemberwick Road, Greenwich, CT 06831
      View Details
    • $3,500/Mo

      Private Second Floor Office Space

      Second floor office space available for rent in Greenwich.
      1155 E Putnam Ave 1, Greenwich, CT 06878
      View Details
    • $8,000/Mo
      2,104 SF

      Retail Space in Byram Heart

      Flexible retail space ready for customization in central Byram.
      10 N Water Street #A, Greenwich, CT 06830
      View Details
    • $6,892/Mo
      2,363 SF

      Greenwich Medical Office Space Available

      Medical office space for lease in a thriving Greenwich community.
      7 Riversville Road, Greenwich, CT 06831
      View Details
    • $6,000/Mo
      1,279 SF

      Downtown Byram Retail Space

      1,279 SF storefront in a vibrant commercial corridor.
      13 N Water Street #1, Greenwich, CT 06830
      View Details
    • $6,000/Mo
      1,297 SF

      Downtown Byram Retail Space Available

      Prime retail space with high visibility and on-site parking.
      13 North Water Street #1, Greenwich, CT 06830
      View Details
    • Contact for pricing
      34,155 SF

      Greenwich Office Park Campus

      Eight-building office campus with amenities and convenient transportation access.
      2 Greenwich Office Park, Greenwich, CT, 06831
      View Details
    • $3,250/Mo

      First Floor Apartment Near Greenwich

      First-floor apartment near Greenwich Ave, available June 1, 2026.
      28 Locust St 1, Greenwich, CT 06830
      View Details
    • $3,500/Mo
      2,841 SF

      Greenwich Office Space For Rent

      Private 2nd floor office space available in Greenwich, Connecticut.
      1155 East Putnam Avenue #1, Greenwich, CT 06878
      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 Avenue #2 Greenwich, CT.
    What is the lease rate?
    The lease rate is $5,250 /Mo.
    What are key features of this property?
    This property features: Walk to train and Greenwich Avenue; Two bedroom, two bath duplex; Garage included
    (325) 695-8000
    We can help!
    Listing Contact
    COLDWELL BANKER REALTY
    COLDWELL BANKER REALTY
    Real Estate License ID: 0241299
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    240 Milbank Avenue #2, Greenwich, CT 06830
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!