Two Multifamily Properties With
For Sale
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39 Ann St, Stamford, CT 06902
Two adjacent multifamily properties with value-add opportunity in Stamford, CT.
Property Size1,888 SF
Price / SF$377.38
Days on Market204
Property Features for 39 Ann St
General Information
Standard status
Active
Size
1,888 SF
Property subtype
Multifamily
Zoning
RMF
Building Details
Year Built
1880
Listing Agency:
Aegis Realty
Listed By:
Ronald Czebiniak · License #CT REB.0758313
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 8 at 2:56PM
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 Aegis Realty
Investment Insights
Based on property information with market context.
Two adjacent properties, located at 125 Richmond Hill Avenue and 39 Ann Street, feature well-maintained exteriors and abundant on-site parking. The interiors are dated, largely because the current occupants have remained for nearly a decade with minimal turnover. Current rents are significantly below market, as the tenants include the owner’s employees and a family member. This creates a strong value-add opportunity through renovation and repositioning. The property at 39 Ann St, Stamford, CT 06902 has a size of 1888 square feet and is intended for multifamily residential income use.
Key Highlights
- Significant value‑add opportunity through renovation and repositioning due to below‑market rents.
- Two adjacent properties included in the sale: 125 Richmond Hill Avenue and 39 Ann Street.
- Abundant on‑site parking.
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
$32,493
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
4.56%
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%
$649,860
$649.9K
Cap Rate 7%
$464,186
$464.2K
Cap Rate 9%
$361,033
$361.0K
Market Conditions
NOI Build-Up for 1,888 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
$63.0K $33.36/SF
− Vacancy
−$3.9K −$2.07/SF
EGI
$59.1K $31.29/SF
− OpEx
−$26.6K −$14.08/SF
NOI
$32.5K $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 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%
$649,860
Cap Rate 7%
$464,186
Cap Rate 9%
$361,033
Alternative Uses
Best Use
Apartment 5plus
$464.2K
$406.2K – $541.6K
NOI $32,493 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$682.7K
$597.3K – $796.4K
NOI $47,786 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,540
Businesses Nearby
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two adjacent multifamily properties with value-add opportunity in Stamford, CT.
Where is this multifamily property located?
The property is located at 39 Ann St Stamford, CT.
What is the asking price?
The asking price for this property is $712,500.
What are key features of this property?
This property features: Significant value‑add opportunity through renovation and repositioning due to below‑market rents.; Two adjacent properties included in the sale: 125 Richmond Hill Avenue and 39 Ann Street.; Abundant on‑site parking.
