5-Unit New Construction Apartment
For Sale
Under Contract
$2,599,000
281 Greenwich Avenue, Stamford, CT 06902
Commercial For Sale, Stamford, CT
Property Size5,760 SF
Lot Size0.23 Acres
Price / SF$451.22
Days on Market300
Property Features for 281 Greenwich Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RMF
Bathrooms
15
Full bathrooms
15
Rooms
Bathroom 11, Bathroom 13, Bathroom 14, Bathroom 8, Bathroom 9, Bathroom 2, Bathroom 1, Bathroom 15, Bathroom 7, Bathroom 3, Bathroom 10, Bathroom 6, Bathroom 5, Bathroom 4, Bathroom 12
Parking
12
Lot features
Level Lot
Directions
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Subdivision
Waterside
Standard status
Active Under Contract
Size
5,760 SF
Lot size
0.23 Acres
Additional Details
Tenant in Place
Yes
Individually Metered Utilities
unspecified utilities
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
19472
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
washer/dryer
attic storage
Building Details
Year built
2024
Listing Agency:
BHGRE Shore & Country
(203) 504-5005
Listed By:
Silvana Orsaia · License #RES.0512945
(203) 249-1611
Added: Jan 8
Changed: Oct 28
Last Checked: Nov 3 at 5:06PM
MLS# 24148010
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This multifamily property contains five three-bedroom apartments, each with three bathrooms, central air, a washer and dryer, and attic storage. The 5,760-square-foot building occupies 0.23 acres and is served by public water and public sewer. Each residence has separate utilities, with tenants responsible for their own utility costs.
All five units are rented, providing an established occupancy profile. The property is zoned RMF and is positioned within walking distance of Stamford Train Station, with downtown Stamford and Harbor Point shopping, dining, and entertainment nearby.
All five units are rented, providing an established occupancy profile. The property is zoned RMF and is positioned within walking distance of Stamford Train Station, with downtown Stamford and Harbor Point shopping, dining, and entertainment nearby.
Key Highlights
- Five 3‑bedroom, 3‑bath apartment units
- 5,760 square feet on 0.23 acres
- All 5 units are rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$99,132
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,982,640
$2.0M
Cap Rate 7%
$1,416,171
$1.4M
Cap Rate 9%
$1,101,467
$1.1M
Market Conditions
NOI Build-Up for 5,760 SF
Gross rent
$192.2K $33.36/SF
− Vacancy
−$11.9K −$2.07/SF
EGI
$180.2K $31.29/SF
− OpEx
−$81.1K −$14.08/SF
NOI
$99.1K $17.21/SF
Area
Stamford, CT
Vacancy
6.20%
Lease Rate
$33.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,982,640
Cap Rate 7%
$1,416,171
Cap Rate 9%
$1,101,467
Alternative Uses
Best Use
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,132 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,787 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,051
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five three-bedroom residences offer three bathrooms, in-unit laundry, attic storage, and separate utility systems.
Where is this apartment building located?
The property is located at 281 Greenwich Avenue Stamford, CT.
What is the asking price?
The asking price for this property is $2,599,000.
What are key features of this property?
This property features: Five 3‑bedroom, 3‑bath apartment units; 5,760 square feet on 0.23 acres; All 5 units are rented
