Office Condo with Private
For Sale
$230,000
700 Summer Street Ste 1c, Stamford, CT 06901
Office unit with reception, four private offices, and access to shared building amenities.
Property Size986 SF
Price / SF$233.27
Days on Market39
Property Features for 700 Summer Street Ste 1c
General Information
Standard status
Active
Size
986 SF
Total Parking Spaces
2
Additional Details
Public Transit
Yes
Amenities
Fitness room
laundry room
courtyard
Building Details
Year Built
1961
Listing Agency:
Century 21 AllPoints Realty
(203) 327-0021
Listed By:
Mikyung Jeung
Source:
Homesbyshoshana
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 30 at 7:38PM
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 Century 21 AllPoints Realty
Investment Insights
Based on property information with market context.
This 986-square-foot office condo is configured with a reception area and four private offices, while allowing for future redesign to suit the occupant’s requirements. The unit was built in 1961 and includes two dedicated parking spaces, along with a permit for an awning.
The property is situated in Stamford, CT, within walking distance of the train station, bus stops, restaurants, theaters, parks, and shopping. Common charges cover heat, gas, and hot water. Building amenities include a fitness room, laundry room, and centrally located courtyard.
The property is situated in Stamford, CT, within walking distance of the train station, bus stops, restaurants, theaters, parks, and shopping. Common charges cover heat, gas, and hot water. Building amenities include a fitness room, laundry room, and centrally located courtyard.
Key Highlights
- 986 SF office condo with reception area and four private offices
- Two dedicated parking spaces included with the unit
- Common charges include heat, gas, and hot water
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
$15,161
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
6.59%
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%
$303,220
$303.2K
Cap Rate 7%
$216,586
$216.6K
Cap Rate 9%
$168,456
$168.5K
Market Conditions
NOI Build-Up for 986 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
$27.8K $28.20/SF
− Vacancy
−$7.6K −$7.70/SF
EGI
$20.2K $20.50/SF
− OpEx
−$5.1K −$5.13/SF
NOI
$15.2K $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%
$303,220
Cap Rate 7%
$216,586
Cap Rate 9%
$168,456
Alternative Uses
Best Use
Office B
$216.6K
$189.5K – $252.7K
NOI $15,161 @ 7.0% cap · market cap 6.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$356.5K
$312.0K – $415.9K
NOI $24,956 @ 7.0% cap · market cap 10.85%
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 unit with reception, four private offices, and access to shared building amenities.
Where is this office units located?
The property is located at 700 Summer Street Ste 1c Stamford, CT.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 986 SF office condo with reception area and four private offices; Two dedicated parking spaces included with the unit; Common charges include heat, gas, and hot water
