Single-Story Flex
For Sale
Contact for pricing
Pending
39 Lindeman Drive, Trumbull, CT 06611
Owner-occupied flex building offers fully air-conditioned space with 12' clear height and two loading docks.
Property Size22,188 SF
Lot Size2.00 Acres
Days on Market220
Property Features for 39 Lindeman Drive
General Information
Standard status
Pending
Size
22,188 SF
Total Parking Spaces
102
Lot size
2.00 Acres
Property subtype
Industrial
Zoning
IL-2
Investment Type
Owner/User
Warehouse & Industrial
Clear Height
12 ft
Dock-High Doors
2
Building Details
Year Built
1983
Stories
1
Tenancy
Single
Listing Agency:
Cushman & Wakefield - Stamford, Connecticut
Listed By:
Kevin Foley
(203) 326-5814
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Sep 1 at 10:50AM
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 Cushman & Wakefield - Stamford, Connecticut
Investment Insights
Based on property information with market context.
Owner-occupied single-story flex building totaling 22,189 square feet of fully air-conditioned multipurpose space. The property offers 12' clear height and includes two loading docks to support light operations. It sits on two level acres.
Zoned IL-2, the building accommodates a wide range of uses, including educational/clinics, production, and packaging operations. Special permits may further expand allowed uses to include self storage, day care, and customer services/business.
The overall configuration is designed to support flexible day-to-day use within an air-conditioned industrial flex environment.
Zoned IL-2, the building accommodates a wide range of uses, including educational/clinics, production, and packaging operations. Special permits may further expand allowed uses to include self storage, day care, and customer services/business.
The overall configuration is designed to support flexible day-to-day use within an air-conditioned industrial flex environment.
Key Highlights
- Owner‑occupied single‑story flex building built in 1983 with 22,189 SF of fully air‑conditioned multipurpose space
- 12' clear height with 2 loading docks for loading and distribution needs
- Zoned IL‑2, allowing a wide range of uses including educational/clinics, production, and packaging 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
$208,484
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
7.07%
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%
$4,169,680
$4.2M
Cap Rate 7%
$2,978,343
$3.0M
Cap Rate 9%
$2,316,489
$2.3M
Market Conditions
NOI Build-Up for 22,188 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
$316.8K $14.28/SF
− Vacancy
−$19.0K −$0.86/SF
EGI
$297.8K $13.42/SF
− OpEx
−$89.4K −$4.03/SF
NOI
$208.5K $9.40/SF
Area
Bridgeport, CT
Vacancy
6.00%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
30.00%
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%
$4,169,680
Cap Rate 7%
$2,978,343
Cap Rate 9%
$2,316,489
Alternative Uses
Best Use
Flex RnD
$4.02M
$3.52M – $4.69M
NOI $281,666 @ 7.0% cap · market cap 9.55%
Second Best
Industrial
$2.98M
$2.61M – $3.47M
NOI $208,484 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$6.33M
$5.54M – $7.39M
NOI $443,306 @ 7.0% cap · market cap 15.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12 ft
Clear height
2
Dock-high doors
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 06611, CT
36,835
Population
12,468
Households
3
Avg Household Size
43
Median Age
60%
College-Educated
95%
High-School Grad
23.3 sq mi
ZIP Area
1,581
Density / Sq Mi
$163,227
Median Household Income
$75,795
Median Earnings
$2,292
Median Rent
$495,300
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Soups & Such — 39 Lindeman Dr, Trumbull, CT 06611
Frequently Asked Questions
What type of property is this?
Flex space - Owner-occupied flex building offers fully air-conditioned space with 12' clear height and two loading docks.
Where is this flex space located?
The property is located at 39 Lindeman Drive Trumbull, CT.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: Owner‑occupied single‑story flex building built in 1983 with 22,189 SF of fully air‑conditioned multipurpose space; 12' clear height with 2 loading docks for loading and distribution needs; Zoned IL‑2, allowing a wide range of uses including educational/clinics, production, and packaging operations
