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Historic Bridgeport Apartment Building Investment

357-359 Norman Street, Bridgeport, CT 06605

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For Sale

$995,000

Well-maintained 15-unit apartment building with on-site office.

Type:Commercial

Property size:

4,750 SF

Lot size:

0.11 Acres

Price / SF:

$209/SF

HighLights

High Cap Rate: Estimated 9.8% cap rate indicates strong potential for cash flow and investment returns.
Multiple Units: Features 15 residential units, offering diverse rental income streams.
Convenient Location: Located across from the Klein Memorial Auditorium, with easy access to I‑95, public transportation, shopping, parks, and beaches.
Individual HVAC Systems: Separate HVAC systems for each side of the building, offering energy efficiency and tenant comfort.
On‑Site Office: Includes an on‑site office for convenient property management.
Historic Charm with Modern Updates: Constructed in 1892, offering unique historical character combined with modern amenities.

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Contact an agent

CATHERINE AARON

Learn more

For Sale

$995,000

Well-maintained 15-unit apartment building with on-site office.

Type:Commercial

Property size:

4,750 SF

Lot size:

0.11 Acres

Price / SF:

$209/SF

Added:: Sep 24, 2025
Days on Market:: 277
Last Refresh:: Apr 5 at 9:04 pm

Property Features for 357-359 Norman Street

General Information

Standard status: Active
Size: 4,750 SF
Lot size: 0.11 Acres
Property subtype: Commercial

Building Details

Year Built: 1892

We can help!

Contact an agent

CATHERINE AARON

Listing office Berkshire Hathaway NE Prop.

Listing date Sep 24, 2025

Source Corcoran

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 Berkshire Hathaway NE Prop.

HighLights

High Cap Rate: Estimated 9.8% cap rate indicates strong potential for cash flow and investment returns.
Multiple Units: Features 15 residential units, offering diverse rental income streams.
Convenient Location: Located across from the Klein Memorial Auditorium, with easy access to I‑95, public transportation, shopping, parks, and beaches.
Individual HVAC Systems: Separate HVAC systems for each side of the building, offering energy efficiency and tenant comfort.
On‑Site Office: Includes an on‑site office for convenient property management.
Historic Charm with Modern Updates: Constructed in 1892, offering unique historical character combined with modern amenities.

Overview

This historic and well-maintained apartment building presents an investment opportunity. The property, spanning approximately 4,570 sqft, features 15 residential units and an on-site office. The building offers a varied floor plan of efficient studio units, each with a private bathroom and kitchenette. The property includes central air conditioning and gas heat, with separate HVAC systems for each side of the building. Security cameras and a centralized fire safety system are in place, along with a fire suppression system in the basement. Individual mail and key boxes are provided for residents. Originally constructed in 1892 as two duplex homes, the building carries historical charm with modern updates. It is located across from the Klein Memorial Auditorium (Performing Arts Center) and within close reach of I-95 and public transportation, shopping, parks, and beaches, providing convenience for tenants. The property size is 4,750 sqft.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$104.3k	$21.96
− Vacancy	−$16.7k	−$3.51
EGI	$87.6k	$18.45
− OpEx	−$21.9k	−$4.61
NOI	$65.7k	$13.83

4,750 SF · lease $21.96/SF/yr · vacancy 16.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$938.8K

$821.4K – $1.10M (±1% cap)

NOI $65,715 @ 7.0% cap · market cap 6.60%

Second Best

Apartment 5plus

$798.2K

$698.4K – $931.2K (±1% cap)

NOI $55,873 @ 7.0% cap · market cap 5.62%

Theoretical Best

Office A

$1.36M

$1.19M – $1.58M (±1% cap)

NOI $94,903 @ 7.0% cap · market cap 9.54%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Office Units

Suggested Use

Location Insight

Map
Local Demand

City: Bridgeport
County: Fairfield
State: Connecticut
Longitude: -73.215221
Latitude: 41.189584

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For sale
Apartment buildings
CT
Bridgeport
06605
357-359 Norman Street

What type of property is this?

Apartment building - Well-maintained 15-unit apartment building with on-site office.

Where is this apartment building located?

The property is located at 357-359 Norman Street Bridgeport, CT.

What is the asking price?

The asking price for this property is $995,000.

What are key features of this property?

This property features: High Cap Rate: Estimated 9.8% cap rate indicates strong potential for cash flow and investment returns.; Multiple Units: Features 15 residential units, offering diverse rental income streams.; Convenient Location: Located across from the Klein Memorial Auditorium, with easy access to I‑95, public transportation, shopping, parks, and beaches.