Triplex with Fenced
New
For Sale
$549,500
240 Sheridan Street, Bridgeport, CT 06610
Residents pay for heat, hot water, and electricity, while a lower level provides laundry and storage space.
Property Size2,940 SF
Price / SF$186.90
Days on Market4
Property Features for 240 Sheridan Street
General Information
Standard status
Active
Size
2,940 SF
Property subtype
3 Family
Additional Details
Multifamily Units
3
Amenities
private fenced yard
laundry
storage
Building Details
Year Built
1920
Buildings
1
Listing Agency:
William Raveis Real Estate
Listed By:
John Hackett · License #REB.0750283
(203) 543-2697
Source:
Lockandkeyre
Added: Sep 29
Changed: Sep 30
Last Checked: Oct 1 at 10:54AM
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 William Raveis Real Estate
Investment Insights
Based on property information with market context.
This 1920-built triplex contains three family units and includes a private fenced yard. The full lower level offers laundry and storage space. Tenants are responsible for heat, hot water, and electricity.
The property is near Bridgeport Hospital and Steelpointe Development, on the Stratford line. Nearby destinations and connections listed include schools, retail, restaurants, Beardsley Park, bus service, Metro-North, I-95, Routes 25/8, and the Merritt Parkway.
The property is near Bridgeport Hospital and Steelpointe Development, on the Stratford line. Nearby destinations and connections listed include schools, retail, restaurants, Beardsley Park, bus service, Metro-North, I-95, Routes 25/8, and the Merritt Parkway.
Key Highlights
- Legal three‑family property built in 1920
- Private fenced yard
- Full lower level with laundry and storage
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
$38,100
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
6.93%
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%
$762,000
$762.0K
Cap Rate 7%
$544,286
$544.3K
Cap Rate 9%
$423,333
$423.3K
Market Conditions
NOI Build-Up for 2,940 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
$58.2K $19.80/SF
− Vacancy
−$3.8K −$1.29/SF
EGI
$54.4K $18.51/SF
− OpEx
−$16.3K −$5.55/SF
NOI
$38.1K $12.96/SF
Area
Bridgeport, CT
Vacancy
6.50%
Lease Rate
$19.80 /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%
$762,000
Cap Rate 7%
$544,286
Cap Rate 9%
$423,333
Alternative Uses
Best Use
Multifamily LT 5
$544.3K
$476.3K – $635.0K
NOI $38,100 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$494.0K
$432.3K – $576.4K
NOI $34,583 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$839.1K
$734.3K – $979.0K
NOI $58,740 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,890
Businesses Nearby
Explore this area
Business Placement
Demographics for 06610, CT
23,347
Population
9,292
Households
2.5
Avg Household Size
39
Median Age
17%
College-Educated
78%
High-School Grad
3.1 sq mi
ZIP Area
7,531
Density / Sq Mi
$50,836
Median Household Income
$36,698
Median Earnings
$1,364
Median Rent
$224,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Residents pay for heat, hot water, and electricity, while a lower level provides laundry and storage space.
Where is this triplex located?
The property is located at 240 Sheridan Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $549,500.
What are key features of this property?
This property features: Legal three‑family property built in 1920; Private fenced yard; Full lower level with laundry and storage
