Building Details

Year Built 1910

Listing Agency: William Pitt Sotheby's Int'l

Listed By: David Thommen Show Phone

Source: Homesbyshoshana

Added: Aug 18 Changed: Sep 12 Last Checked: Oct 7 at 2:09PM

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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 William Pitt Sotheby's Int'l

Investment Insights

Based on property information with market context.

Built in 1910, this mixed-use property combines three residential units with one commercial unit in a single building. Off-street parking and a two-car garage provide on-site vehicle accommodations. The property is being sold as-is, with future ownership responsible for evaluating conditions, updates, and intended use.

The property is located at 771 Madison Ave in Bridgeport, Connecticut, near shopping and dining described as having high foot traffic. Walk Score is 63, Bike Score is 47, and Transit Score is 36, reflecting somewhat walkable, somewhat bikeable, and some-transit conditions, respectively.

Key Highlights

• 3 residential units and 1 commercial unit
• Two‑car garage and off‑street parking
• Built in 1910

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$46,440

Cap Rate

7.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$928,800 $928.8K

Cap Rate 7%

$663,429 $663.4K

Cap Rate 9%

$516,000 $516.0K

Market Conditions

NOI Build-Up for 3,205 SF

Gross rent

$80.8K $25.20/SF

− Vacancy

−$6.5K −$2.02/SF

EGI

$74.3K $23.18/SF

− OpEx

−$27.9K −$8.69/SF

NOI

$46.4K $14.49/SF

Area

Bridgeport, CT

Vacancy

8.00%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$928,800

Cap Rate 7%

$663,429

Cap Rate 9%

$516,000

Alternative Uses

Best Use

Mixed Use

$663.4K

$580.5K – $774.0K (±1% cap)

NOI $46,440 @ 7.0% cap · market cap 7.26%

Second Best

Multifamily LT 5

$593.3K

$519.2K – $692.2K (±1% cap)

NOI $41,534 @ 7.0% cap · market cap 6.49%

Theoretical Best

Office A

$914.8K

$800.4K – $1.07M (±1% cap)

NOI $64,034 @ 7.0% cap · market cap 10.01%

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

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Gym & Fitness Center Skin Care Clinic Acupuncture Pharmacy

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

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

1,538

Businesses Nearby

Explore this area Business Placement

Demographics for 06606, CT

48,427

Population

19,002

Households

2.5

Avg Household Size

36

Median Age

23%

College-Educated

82%

High-School Grad

5.3 sq mi

ZIP Area

9,137

Density / Sq Mi

$68,538

Median Household Income

$35,128

Median Earnings

$1,434

Median Rent

$272,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 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 mixed-use properties 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?

Mixed-use property - Mixed-use building with residential and commercial space, off-street parking, and a two-car garage.

Where is this mixed-use property located?

The property is located at 771 Madison Ave Bridgeport, CT.

What is the asking price?

The asking price for this property is $639,900.

What are key features of this property?

This property features: 3 residential units and 1 commercial unit; Two‑car garage and off‑street parking; Built in 1910