Office Condo with Private
For Sale
$225,000
700 Summer Street, Stamford, CT 06901
Commercial For Sale, Stamford, CT
Property Size590 SF
Price / SF$381.36
Days on Market131
Property Features for 700 Summer Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MZN
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Exterior features
Sidewalk,Lighting
Lot features
Level Lot
Directions
Summer street to 700. park in front of the building and use small gate on the left
Subdivision
Mid City
Standard status
Active
Size
590 SF
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2416
HOA Fee
$431 Monthly
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Amenities
fitness room
storage
laundry facilities
courtyard
Building Details
Year built
1961
Floors in Building
1
Flooring type
Wood
Listing Agency:
Iron Gates Realty
(203) 355-9536
Listed By:
Yulka Markevich
(203) 253-0660
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 31 at 9:06AM
MLS# 24169584
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.
This 590-square-foot office condo offers two private offices, a conference room, kitchenette, full bath, wood flooring, and a private patio. Two separate entrances provide access through the updated lobby and courtyard or directly from the street. The building was constructed in 1961 and includes a fitness room, storage facilities, and laundry facilities. Heating is provided by a hot water system, with window-unit cooling.
Building services include heat, hot water, and cooking gas within the common charges. The property also has public water and public sewer, with cable available. Residential conversion is possible subject to obtaining a Certificate of Occupancy. The property is located in Stamford, Connecticut, and carries MZN zoning.
Building services include heat, hot water, and cooking gas within the common charges. The property also has public water and public sewer, with cable available. Residential conversion is possible subject to obtaining a Certificate of Occupancy. The property is located in Stamford, Connecticut, and carries MZN zoning.
Key Highlights
- 590 square feet of office condominium space
- Two private offices, conference room, kitchenette, and full bath
- Private patio with a separate street‑level entrance
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
$9,072
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
4.03%
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%
$181,440
$181.4K
Cap Rate 7%
$129,600
$129.6K
Cap Rate 9%
$100,800
$100.8K
Market Conditions
NOI Build-Up for 590 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
$16.6K $28.20/SF
− Vacancy
−$4.5K −$7.70/SF
EGI
$12.1K $20.50/SF
− OpEx
−$3.0K −$5.13/SF
NOI
$9.1K $15.38/SF
Area
Stamford, CT
Vacancy
27.30%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
25.00%
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%
$181,440
Cap Rate 7%
$129,600
Cap Rate 9%
$100,800
Alternative Uses
Best Use
Office B
$129.6K
$113.4K – $151.2K
NOI $9,072 @ 7.0% cap · market cap 4.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$213.3K
$186.7K – $248.9K
NOI $14,933 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,146
Businesses Nearby
Explore this area
Business Placement
Demographics for 06901, CT
10,595
Population
6,440
Households
1.6
Avg Household Size
33
Median Age
66%
College-Educated
93%
High-School Grad
0.5 sq mi
ZIP Area
21,190
Density / Sq Mi
$87,524
Median Household Income
$70,562
Median Earnings
$2,266
Median Rent
$446,200
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 units - Two private offices, a conference room, kitchenette, and full bath create a functional professional layout.
Where is this office units located?
The property is located at 700 Summer Street Stamford, CT.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 590 square feet of office condominium space; Two private offices, conference room, kitchenette, and full bath; Private patio with a separate street‑level entrance
