Light Industrial Garage
For Sale
$550,000
70 Elizabeth Street, Bridgeport, CT 06610
Masonry garage with two drive-in overhead doors and open-span shop space for automotive and service-related uses.
Property Size5,040 SF
Price / SF$109.13
Days on Market88
Property Features for 70 Elizabeth Street
General Information
Standard status
Active
Size
5,040 SF
Property subtype
Commercial
Building Details
Year Built
1980
Listing Agency:
BHGRE Gaetano Marra Homes
(646) 938-4879
Listed By:
Yasmina Delacruz-Bailey · License #RES.0802521
(646) 938-4879
Source:
Lockandkeyre
Added: Jun 6
Changed: Aug 31
Last Checked: Aug 31 at 1:42PM
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 BHGRE Gaetano Marra Homes
Investment Insights
Based on property information with market context.
This versatile light industrial/commercial garage building is constructed of solid masonry and totals approximately 5,040 square feet on a 0.17-acre lot. The current configuration supports two separate automotive-related businesses, with each side featuring its own entrance. The facility includes two oversized drive-in overhead doors and high-clearance ceilings, along with open-span shop space designed for practical vehicle, equipment, and workflow needs.
The property is located in Bridgeport’s East Side industrial corridor and is positioned with paved parking for vehicle access. Easy access to major transportation routes is noted, including I-95 and the Route 8/25 Connector, as well as the Port of Bridgeport and the Metro-North Train Station serving Fairfield and New Haven Counties.
For buyers, the layout offers flexibility for an owner-user who wants operational space in an established automotive-style setting, or for an investor interested in holding income while retaining future occupancy options. The building is currently occupied by two month-to-month tenants, and the sale is being made as-is. Buyers should conduct due diligence regarding zoning, permitted uses, and all property-related matters.
The property is located in Bridgeport’s East Side industrial corridor and is positioned with paved parking for vehicle access. Easy access to major transportation routes is noted, including I-95 and the Route 8/25 Connector, as well as the Port of Bridgeport and the Metro-North Train Station serving Fairfield and New Haven Counties.
For buyers, the layout offers flexibility for an owner-user who wants operational space in an established automotive-style setting, or for an investor interested in holding income while retaining future occupancy options. The building is currently occupied by two month-to-month tenants, and the sale is being made as-is. Buyers should conduct due diligence regarding zoning, permitted uses, and all property-related matters.
Key Highlights
- Approximately 5,040 SF solid masonry light industrial/commercial garage building on a 0.17‑acre lot (built 1980).
- Configured for two separate automotive‑related businesses, with separate entrances for flexible occupancy.
- Two oversized drive‑in overhead doors plus high‑clearance ceilings and open‑span shop 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
$47,357
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
8.61%
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%
$947,140
$947.1K
Cap Rate 7%
$676,529
$676.5K
Cap Rate 9%
$526,189
$526.2K
Market Conditions
NOI Build-Up for 5,040 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
$72.0K $14.28/SF
− Vacancy
−$4.3K −$0.86/SF
EGI
$67.7K $13.42/SF
− OpEx
−$20.3K −$4.03/SF
NOI
$47.4K $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%
$947,140
Cap Rate 7%
$676,529
Cap Rate 9%
$526,189
Alternative Uses
Best Use
Flex RnD
$914.0K
$799.8K – $1.07M
NOI $63,980 @ 7.0% cap · market cap 11.63%
Second Best
Retail
$866.4K
$758.1K – $1.01M
NOI $60,646 @ 7.0% cap · market cap 11.03%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,697 @ 7.0% cap · market cap 18.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,886
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 06610, CT
23,347
Population
9,292
Households
2.5
Avg Household Size
39
Median Age
17%
College-Educated
78%
High-School Grad
3.1 sq mi
ZIP Area
7,531
Density / Sq Mi
$50,836
Median Household Income
$36,698
Median Earnings
$1,364
Median Rent
$224,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pete's Discount Mufflers & Brakes — 961 Stratford Ave, Bridgeport, CT 06607
- Kovacs' Garage — 85 Davenport St, Bridgeport, CT 06607
- J P Tadduni LLC — 480 surf ave, stratford, ct 06615
- Detail Masters LLC — 255 Moffitt St, Stratford, CT 06615
- Post Parkway — 55 Browning St, Stratford, CT 06615
Frequently Asked Questions
What type of property is this?
Auto shop - Masonry garage with two drive-in overhead doors and open-span shop space for automotive and service-related uses.
Where is this auto shop located?
The property is located at 70 Elizabeth Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Approximately 5,040 SF solid masonry light industrial/commercial garage building on a 0.17‑acre lot (built 1980).; Configured for two separate automotive‑related businesses, with separate entrances for flexible occupancy.; Two oversized drive‑in overhead doors plus high‑clearance ceilings and open‑span shop space.
