Building Details

Year Built 1961

Listing Agency: Iron Gates Realty Y***@optonline.net Show Phone

Listed By: Yulka Markevich · License #REB.0755904 Show Phone

Source: Lockandkeyre

Added: Apr 22 Changed: Oct 13 Last Checked: Oct 12 at 8:21PM

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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 Iron Gates Realty

Investment Insights

Based on property information with market context.

This 590 square foot office condo presents a rare opportunity for ownership in a prime location. The well-appointed layout includes a conference room, kitchenette, and a full bath, along with two bright private offices and access to a private patio. The space is move-in ready and offers the flexibility to be redesigned to suit specific needs. The building is exceptionally well-maintained and provides amenities such as a fitness room, storage, and laundry facilities. The property benefits from two separate entrances: one through an updated lobby and charming courtyard, and another directly from the street via a private patio. The low common charges include heat, hot water, and cooking gas. The property can also be converted to residential use by obtaining a Certificate of Occupancy.

Key Highlights

• Prime location office condo with low common charges covering heat, hot water, and cooking gas.
• Move‑in ready with a conference room, kitchenette, full bath, and two private offices.
• Private patio with separate street entrance, in addition to lobby/courtyard access.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$9,072

Cap Rate

4.03%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

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 (±1% cap)

NOI $14,933 @ 7.0% cap · market cap 6.64%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Andersen David T ... Physician Trujillo Jeanette PHD Physician Caren E. Glickson, ... Counselor Certified Payroll Associates, ... Accounting Firm Branca Anthony CPA Accounting Firm

Suggested Use

Top Pick Butcher Tanning Salon (Bike/Boat/Book/etc) Store Bed & Breakfast Garden Center Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this office units located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Office units - Office condo with low common charges in a prime location.

Where is this office units located?

The property is located at 700 Summer #1F 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: Prime location office condo with low common charges covering heat, hot water, and cooking gas.; Move‑in ready with a conference room, kitchenette, full bath, and two private offices.; Private patio with separate street entrance, in addition to lobby/courtyard access.