Versatile Commercial Building in
For Sale
$900,000
553-557 Center Street Ext, Bridgeport, CT 06604
3,500 SF building on 0.18 acres, ideal for various uses.
Property Size3,492 SF
Lot Size0.18 Acres
Price / SF$257.14
Days on Market152
Property Features for 553-557 Center Street Ext
General Information
Standard status
Active
Size
3,492 SF
Lot size
0.18 Acres
Property subtype
Commercial
Building Details
Building Size
3,492 SF
Year Built
1981
Listing Agency:
Us Asset Realty
(203) 383-9986
Listed By:
Alexia Andrade · License #RES.0815052
(203) 383-9986
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 4:53AM
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 Us Asset Realty
Investment Insights
Based on property information with market context.
This 3,500 SF single-story building is situated on a 0.18-acre lot and offers flexible space suitable for office, medical, daycare, wellness/fitness, creative studios, contractor use, or continued community/institutional operations. Currently configured as a community center, the layout includes large open areas and private rooms that can be adapted to suit many business types. On-site parking is available. The property is located minutes from Downtown Bridgeport, Route 8/25, I-95, and transit, providing accessibility for clients and staff. This property is located in a high-demand mixed-use area.
Key Highlights
- 3,500 SF single‑story building in a growing commercial corridor.
- Flexible space suitable for various uses like office, medical, daycare, fitness, creative studios, etc.
- Excellent accessibility: minutes from Downtown Bridgeport, Route 8/25, I‑95, and transit.
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
$50,715
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
5.64%
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%
$1,014,300
$1.0M
Cap Rate 7%
$724,500
$724.5K
Cap Rate 9%
$563,500
$563.5K
Market Conditions
NOI Build-Up for 3,500 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
$88.2K $25.20/SF
− Vacancy
−$7.1K −$2.02/SF
EGI
$81.1K $23.18/SF
− OpEx
−$30.4K −$8.69/SF
NOI
$50.7K $14.49/SF
Area
Bridgeport, CT
Vacancy
8.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
37.50%
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%
$1,014,300
Cap Rate 7%
$724,500
Cap Rate 9%
$563,500
Alternative Uses
Best Use
Mixed Use
$724.5K
$633.9K – $845.3K
NOI $50,715 @ 7.0% cap · market cap 5.64%
Second Best
Office B
$691.7K
$605.3K – $807.0K
NOI $48,422 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$999.0K
$874.1K – $1.17M
NOI $69,928 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 3,500 SF building on 0.18 acres, ideal for various uses.
Where is this mixed-use property located?
The property is located at 553-557 Center Street Ext Bridgeport, CT.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 3,500 SF single‑story building in a growing commercial corridor.; Flexible space suitable for various uses like office, medical, daycare, fitness, creative studios, etc.; Excellent accessibility: minutes from Downtown Bridgeport, Route 8/25, I‑95, and transit.
