Three-Unit Triplex
For Sale
$699,900
53-55 Fremont Street, Bridgeport, CT 06605
Fully rented residential property with three units and established rental occupancy.
Property Size3,749 SF
Days on Market9
Property Features for 53-55 Fremont Street
General Information
Standard status
Active
Size
3,749 SF
Property subtype
3 Family
Taxes and HOA fees
Annual Taxes
$8,173
Building Details
Building Size
3,749 SF
Year Built
1892
Listing Agency:
Rosana Melo Realty
Listed By:
Rosania Melo · License #REB.0795867
(203) 374-9451
Source:
Higginsgroup
Added: Sep 19
Last Checked: Sep 26 at 2:48PM
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 Rosana Melo Realty
Investment Insights
Based on property information with market context.
This three-unit residential property was built in 1892 and provides approximately 3,749 square feet of living space. The configuration includes 12 rooms, 8 bedrooms, and 3 full bathrooms, with each unit offering a separate residential layout. The property is fully rented and located at 53-55 Fremont Street in Bridgeport, Connecticut.
Key Highlights
- Three‑unit residential property built in 1892
- Approximately 3,749 sq. ft. of living space
- 12 rooms, 8 bedrooms, and 3 full bathrooms
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
$48,584
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
6.94%
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%
$971,680
$971.7K
Cap Rate 7%
$694,057
$694.1K
Cap Rate 9%
$539,822
$539.8K
Market Conditions
NOI Build-Up for 3,749 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
$74.2K $19.80/SF
− Vacancy
−$4.8K −$1.29/SF
EGI
$69.4K $18.51/SF
− OpEx
−$20.8K −$5.55/SF
NOI
$48.6K $12.96/SF
Area
Bridgeport, CT
Vacancy
6.50%
Lease Rate
$19.80 /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%
$971,680
Cap Rate 7%
$694,057
Cap Rate 9%
$539,822
Alternative Uses
Best Use
Multifamily LT 5
$694.1K
$607.3K – $809.7K
NOI $48,584 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$630.0K
$551.2K – $735.0K
NOI $44,099 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$1.07M
$936.3K – $1.25M
NOI $74,903 @ 7.0% cap · market cap 10.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,705
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
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?
Triplex - Fully rented residential property with three units and established rental occupancy.
Where is this triplex located?
The property is located at 53-55 Fremont Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑unit residential property built in 1892; Approximately 3,749 sq. ft. of living space; 12 rooms, 8 bedrooms, and 3 full bathrooms
