Single-Story Office Building with On-Site
For Sale
$900,000
553-557 Center Street Extension, Bridgeport, CT 06604
COMMERCIAL - Bridgeport, CT
Property Size3,500 SF
Lot Size0.18 Acres
Price / SF$257.73
Days on Market242
Property Features for 553-557 Center Street Extension
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
ORN
Bathrooms
3
Half bathrooms
3
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Lot features
Level Lot
Directions
GPS Accessible
Standard status
Active
Size
3,492 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7819
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1981
Listing Agency:
US Asset Realty
(800) 913-1936
Listed By:
Alexia Andrade · License #RES.0815052
(203) 383-9986
Added: Dec 9, 2025
Changed: Aug 4
Last Checked: Aug 8 at 4:06PM
MLS# 24144099
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Single-story office building on a 0.18-acre lot with on-site parking. The property contains approximately 3,492 square feet and was built in 1981. It is served by public water and public sewer and includes central air cooling.
The existing layout is configured as a community center, with large open areas and private rooms, along with three bathrooms. The flexible plan can be adapted for office, medical, daycare, wellness/fitness, creative studios, contractor use, or continued community/institutional operations.
Convenient access is highlighted with proximity to Downtown Bridgeport, Route 8/25, I-95, and transit, supporting client and staff access for a variety of uses.
The existing layout is configured as a community center, with large open areas and private rooms, along with three bathrooms. The flexible plan can be adapted for office, medical, daycare, wellness/fitness, creative studios, contractor use, or continued community/institutional operations.
Convenient access is highlighted with proximity to Downtown Bridgeport, Route 8/25, I-95, and transit, supporting client and staff access for a variety of uses.
Key Highlights
- Approximately 3,492 SF single‑story office building built in 1981
- 0.18‑acre lot with on‑site parking
- ORN zoning
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
$52,328
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
5.81%
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%
$1,046,560
$1.0M
Cap Rate 7%
$747,543
$747.5K
Cap Rate 9%
$581,422
$581.4K
Market Conditions
NOI Build-Up for 3,492 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
$94.3K $27.00/SF
− Vacancy
−$7.1K −$2.03/SF
EGI
$87.2K $24.98/SF
− OpEx
−$34.9K −$9.99/SF
NOI
$52.3K $14.99/SF
Area
Bridgeport, CT
Vacancy
7.50%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
40.00%
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%
$1,046,560
Cap Rate 7%
$747,543
Cap Rate 9%
$581,422
Alternative Uses
Best Use
Healthcare Medical
$747.5K
$654.1K – $872.1K
NOI $52,328 @ 7.0% cap · market cap 5.81%
Second Best
Office B
$690.2K
$603.9K – $805.2K
NOI $48,311 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$996.7K
$872.1K – $1.16M
NOI $69,768 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
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?
Office building - Single-story office building on a 0.18-acre lot in ORN zoning, with on-site parking and central air.
Where is this office building located?
The property is located at 553-557 Center Street Extension 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: Approximately 3,492 SF single‑story office building built in 1981; 0.18‑acre lot with on‑site parking; ORN zoning
