New Construction
For Sale
$999,000
62 PALMER Street, Bridgeport, CT 06606
Newly built two-family property with spacious apartments and separate residential layouts.
Property Size4,684 SF
Price / SF$213.28
Days on Market9
Property Features for 62 PALMER Street
General Information
Standard status
Active
Size
4,684 SF
Property subtype
2 Family
Building Details
Year Built
2026
Listing Agency:
Premium Realty, LLC
(203) 615-4766
Listed By:
Marcia Macedo
(203) 615-4766
Source:
Lockandkeyre
Added: Aug 17
Changed: Aug 25
Last Checked: Aug 25 at 6:58AM
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 Premium Realty, LLC
Investment Insights
Based on property information with market context.
This newly constructed duplex contains two residential apartments with a combined total of 13 bedrooms and 4 full bathrooms. The first apartment includes 8 bedrooms, 2 full bathrooms, and an extra-large living area, while the second offers 5 bedrooms and 2 full bathrooms. The property provides over 4,680 square feet of finished living space and was built in 2026.
The property is located at 62 Palmer St in Bridgeport’s North End, with access to major highways, shopping, schools, and everyday amenities. Walk Score is 63, Bike Score is 47, and Transit Score is 36.
The property is located at 62 Palmer St in Bridgeport’s North End, with access to major highways, shopping, schools, and everyday amenities. Walk Score is 63, Bike Score is 47, and Transit Score is 36.
Key Highlights
- Over 4,680 square feet of finished living space
- Two‑apartment duplex with 13 bedrooms and 4 full bathrooms
- Apartment 1: 8 bedrooms, 2 full bathrooms, and extra‑large living space
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
$60,700
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
6.08%
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%
$1,214,000
$1.2M
Cap Rate 7%
$867,143
$867.1K
Cap Rate 9%
$674,444
$674.4K
Market Conditions
NOI Build-Up for 4,684 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
$92.7K $19.80/SF
− Vacancy
−$6.0K −$1.29/SF
EGI
$86.7K $18.51/SF
− OpEx
−$26.0K −$5.55/SF
NOI
$60.7K $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%
$1,214,000
Cap Rate 7%
$867,143
Cap Rate 9%
$674,444
Alternative Uses
Best Use
Multifamily LT 5
$867.1K
$758.8K – $1.01M
NOI $60,700 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$787.1K
$688.7K – $918.3K
NOI $55,097 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,584 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
642
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
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?
Duplex - Newly built two-family property with spacious apartments and separate residential layouts.
Where is this duplex located?
The property is located at 62 PALMER Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Over 4,680 square feet of finished living space; Two‑apartment duplex with 13 bedrooms and 4 full bathrooms; Apartment 1: 8 bedrooms, 2 full bathrooms, and extra‑large living space
