Prime Location Office
For Sale
$225,000
700 Summer Street Unit 1F, Stamford, CT 06901
Office condo with low common charges in a prime location.
Property Size590 SF
Price / SF$381.36
Days on Market126
Property Features for 700 Summer Street Unit 1F
General Information
Standard status
Active
Size
590 SF
Property subtype
Commercial
Building Details
Year Built
1961
Listing Agency:
Iron Gates Realty
(203) 253-0660
Listed By:
Yulka Markevich
(203) 253-0660
Source:
Lockandkeyre
Added: Apr 22
Changed: Aug 22
Last Checked: Aug 25 at 6:01AM
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 = 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 - Office condo with low common charges in a prime location.
Where is this office units located?
The property is located at 700 Summer Street Unit 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.
