Stamford Light Industrial Building For
For Sale
$999,000
34 Baxter Ave, Stamford, CT 06902
3,200 SF light industrial building with flexible space.
Property Size4,130 SF
Price / SF$312.19
Days on Market117
Property Features for 34 Baxter Ave
General Information
Standard status
Active
Size
4,130 SF
Property subtype
Commercial
Building Details
Building Size
4,130 SF
Year Built
1956
Listing Agency:
Nizzardo Real Estate Services
(203) 667-3122
Listed By:
Cody Nizzardo · License #REB.0790249
(203) 667-3122
Source:
Elliman
Added: Apr 15
Changed: Aug 8
Last Checked: Apr 11 at 6:33AM
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 Nizzardo Real Estate Services
Investment Insights
Based on property information with market context.
The property at 34 Baxter Avenue in Stamford, CT, presents an opportunity to acquire a standalone light industrial building. The building offers approximately 3,200 square feet above grade, complemented by an additional 1,000 square foot basement. The space is suitable for industrial, contractor, or flex users. Currently used as a custom cabinet shop, the layout accommodates manufacturing, storage, and workshop activities. The building includes a drive-in bay for loading, 3-phase power, and 12-foot ceilings. A finished rear section combines office space with a half bathroom and a one-bedroom, one-bathroom apartment setup with central air. This integrated space offers flexibility for owner use, employee housing, or supplemental office operations, with the rear portion currently built out as office space with a non-conforming apartment component. There is also potential for additional parking across the street. The property benefits from immediate access to I-95, allowing for regional connectivity throughout Fairfield. The location has a bike score of 76, indicating it is very bikeable, a walk score of 88, indicating it is very walkable, and a transit score of 71, indicating excellent transit.
Key Highlights
- Prime location with immediate access to I‑95 for seamless regional connectivity.
- 3,200 sq ft light industrial building with a 1,000 sq ft basement, suitable for various uses.
- Features a drive‑in bay and 3‑phase power, ideal for industrial or contractor operations.
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
$40,841
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
4.09%
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%
$816,820
$816.8K
Cap Rate 7%
$583,443
$583.4K
Cap Rate 9%
$453,789
$453.8K
Market Conditions
NOI Build-Up for 3,200 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
$67.2K $21.00/SF
− Vacancy
−$4.4K −$1.37/SF
EGI
$62.8K $19.64/SF
− OpEx
−$22.0K −$6.87/SF
NOI
$40.8K $12.76/SF
Area
Stamford, CT
Vacancy
6.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
35.00%
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%
$816,820
Cap Rate 7%
$583,443
Cap Rate 9%
$453,789
Alternative Uses
Best Use
Flex RnD
$583.4K
$510.5K – $680.7K
NOI $40,841 @ 7.0% cap · market cap 4.09%
Second Best
Industrial
$513.7K
$449.5K – $599.3K
NOI $35,956 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$1.16M
$1.01M – $1.35M
NOI $80,993 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,837
Businesses Nearby
Balanced
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Libby Cooke Catering — 49 Brown House Rd, Stamford, CT 06902
- Aux Delices (not a retail location) — 23 Acosta St, Stamford, CT 06902
- Susan Kane Catering — 90 Fairfield Ave, Stamford, CT 06902
- Upper Crust Bagel Co — 197 Sound Beach Ave, Old Greenwich, CT 06870
- A Dash of Salt Catering — 49 Brown House Rd, Stamford, CT 06902
Frequently Asked Questions
What type of property is this?
Flex space - 3,200 SF light industrial building with flexible space.
Where is this flex space located?
The property is located at 34 Baxter Ave Stamford, CT.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Prime location with immediate access to I‑95 for seamless regional connectivity.; 3,200 sq ft light industrial building with a 1,000 sq ft basement, suitable for various uses.; Features a drive‑in bay and 3‑phase power, ideal for industrial or contractor operations.
