Office Unit with Private
For Sale
$225,000
700 Summer Street 1f, Stamford, CT 06901
Office condominium with two private offices, a conference room, kitchenette, full bath, and patio access.
Property Size590 SF
Price / SF$381.36
Days on Market37
Property Features for 700 Summer Street 1f
General Information
Standard status
Active
Size
590 SF
Amenities
fitness room
storage
laundry facilities
Building Details
Year Built
1961
Listing Agency:
Iron Gates Realty
(203) 253-0660
Listed By:
Yulka Markevich
Source:
Homesbyshoshana
Added: Jul 26
Changed: Aug 31
Last Checked: Aug 31 at 1:40AM
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 condominium offers a practical layout with two private offices, a conference room, kitchenette, and full bath. The unit also includes access to a private patio and can be reconfigured to accommodate different office requirements. Two separate entrances provide access through the updated lobby and courtyard or directly from the street via the patio.
Ownership includes access to building amenities such as a fitness room, storage facilities, and laundry facilities. Common charges include heat, hot water, and cooking gas. The property was built in 1961 and may be converted to residential use subject to obtaining a Certificate of Occupancy.
Ownership includes access to building amenities such as a fitness room, storage facilities, and laundry facilities. Common charges include heat, hot water, and cooking gas. The property was built in 1961 and may be converted to residential use subject to obtaining a Certificate of Occupancy.
Key Highlights
- 590‑square‑foot office condominium
- Two private offices plus conference room, kitchenette, and full bath
- Private patio with direct street 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 condominium with two private offices, a conference room, kitchenette, full bath, and patio access.
Where is this office units located?
The property is located at 700 Summer Street 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: 590‑square‑foot office condominium; Two private offices plus conference room, kitchenette, and full bath; Private patio with direct street access
