Mixed-Use Multifamily
For Sale
$650,000
Pending
3193 Main Street, Bridgeport, CT 06606
1913 mixed-use building with refreshed interiors and a ground-level dental office history, suited for flexible income options.
Property Size3,601 SF
Lot Size0.11 Acres
Days on Market102
Property Features for 3193 Main Street
General Information
Standard status
Pending
Size
3,601 SF
Lot size
0.11 Acres
Property subtype
Commercial
Additional Details
Multifamily Units
2
Building Details
Year Built
1913
Tenancy
Multi
Listing Agency:
Higgins Group Real Estate
(203) 218-1548
Listed By:
Daniel Martin
(203) 218-1548
Source:
Lockandkeyre
Added: May 22
Changed: Aug 23
Last Checked: Jul 24 at 2:49PM
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 Higgins Group Real Estate
Investment Insights
Based on property information with market context.
Built in 1913, this mixed-use multifamily property offers a versatile layout that can support multi-generational living or a reimagined two-family configuration with additional rental units. The building includes a ground level that has been used as a dental office for many years, while the overall layout lends itself to creating multiple comfortable living spaces. Recent updates include new paint, new windows, and gleaming hardwood floors that retain historic character.
Set on a small lot with excellent street presence along Main Street, the property benefits from foot traffic in a convenient, growing neighborhood in Bridgeport’s North End. It’s positioned near shopping, restaurants, medical facilities, and everyday commuter amenities.
For buyers seeking flexibility, the combination of residential potential and a historically professional-use ground level makes this property well-suited for investors or owner-occupants who want to generate income while keeping living space close together. It’s also a strong candidate for anyone looking to refresh and configure a classic building into a modern mixed-use or multi-unit arrangement.
Set on a small lot with excellent street presence along Main Street, the property benefits from foot traffic in a convenient, growing neighborhood in Bridgeport’s North End. It’s positioned near shopping, restaurants, medical facilities, and everyday commuter amenities.
For buyers seeking flexibility, the combination of residential potential and a historically professional-use ground level makes this property well-suited for investors or owner-occupants who want to generate income while keeping living space close together. It’s also a strong candidate for anyone looking to refresh and configure a classic building into a modern mixed-use or multi-unit arrangement.
Key Highlights
- 1913 mixed‑use multifamily building with 3,601 sq ft of space
- Ground level was used as a dental office for many years, supporting mixed‑use or residential flexibility
- Recently refreshed interiors including new paint, new windows, and gleaming hardwood floors
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
$53,961
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
8.30%
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%
$1,079,220
$1.1M
Cap Rate 7%
$770,871
$770.9K
Cap Rate 9%
$599,567
$599.6K
Market Conditions
NOI Build-Up for 3,601 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
$97.2K $27.00/SF
− Vacancy
−$7.3K −$2.03/SF
EGI
$89.9K $24.98/SF
− OpEx
−$36.0K −$9.99/SF
NOI
$54.0K $14.99/SF
Area
Bridgeport, CT
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,079,220
Cap Rate 7%
$770,871
Cap Rate 9%
$599,567
Alternative Uses
Best Use
Healthcare Medical
$770.9K
$674.5K – $899.4K
NOI $53,961 @ 7.0% cap · market cap 8.30%
Second Best
Office B
$711.7K
$622.7K – $830.3K
NOI $49,819 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$1.03M
$899.3K – $1.20M
NOI $71,946 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,314
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - 1913 mixed-use building with refreshed interiors and a ground-level dental office history, suited for flexible income options.
Where is this duplex located?
The property is located at 3193 Main Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 1913 mixed‑use multifamily building with 3,601 sq ft of space; Ground level was used as a dental office for many years, supporting mixed‑use or residential flexibility; Recently refreshed interiors including new paint, new windows, and gleaming hardwood floors
