Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    21 Jesup Rd Westport, CT 06880

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Unique 1,454 SF office space in downtown Westport.

    Type:Office
    Property size:
    1,454 SF
    Added:
    Sep 23, 2023
    Days on Market:
    957
    Last Refresh:
    Mar 17 at 1:20 pm

    Property Features for 21 Jesup Rd

    General Information

    Standard status
    Active
    Size
    1,454 SF
    Property subtype
    Office

    Spaces For Lease

    at 21 Jesup Rd Contact us

    We can help!

    Listing Contact
    Christopher Maglione

    Listing agent Christopher Maglione License #CT

    Listing office Hastings Real Estate

    Listing date Sep 23, 2023

    Source Crexi

    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 Hastings Real Estate

    Overview

    Downtown Westport Creative Office Space

    This 1,454 square foot office space is located on the second floor and includes a 1,107 square foot area with an additional 347 square foot mezzanine. The space features a private entrance. The open and bright space includes high ceilings and hardwood floors. It is located in the heart of the Downtown area, overlooking the Jesup Green, directly across from the Westport Public Library and Police Station, and in close proximity to all shops, amenities and all day parking. The property also has river views. This space is suitable for creative uses such as photographers, architects, and artists, and is also ideal for a home office business.
    Location Intelligence

    Current Use by Public Records

    Pause + Purpose Studio: ... Gym & Fitness Center

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Dental Office Real Estate Agency Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Westport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.36053
    Latitude
    41.140507

    Nearby Similar for Lease

    • $2,200/Mo

      Westport Office Space For Rent

      Bright office space with private entrance and dedicated parking.
      6 E Main St 2 FL, Westport, CT 06880
      View Details
    • Sponsored
      Contact for pricing

      CT, Westport - Wright Street

      8 Wright St, Westport, CT 06880
      View Details
    • $2,300/Mo

      Westport Office Space For Rent

      Bright, spacious office with private entrance and dedicated parking.
      6 East Main Street #2 FL, Westport, CT 06880
      View Details
    • $1,650/Mo

      Charming Office Space in Westport

      Lower level office with kitchenette near downtown Westport Main.
      27 Imperial Ave, Westport, CT
      View Details
    • $27 SF/Yr

      Office Space on Post Road

      Office building with flexible spaces and attractive pricing.
      991 Post Road East, Westport, Connecticut 06880
      View Details
    • $5,500/Mo

      Westport Office Space For Rent

      Luxurious office space available in high-end mixed-use Westport property.
      1330 Post Rd E, Westport, CT
      View Details
    • Contact for pricing

      Retail Building on Post Road

      Freestanding retail building with frontage and ample parking.
      1495 Post Road East, Westport, Connecticut 06880
      View Details
    • $1,600/Mo

      Westport Office Space for Rent

      Single office in a corporate suite with shared waiting area.
      1465 Post Rd E , Westport, CT
      View Details
    • $1,450/Mo

      Office Space with Skylights

      24,000 sq ft office complex near I-95.
      1720 Post Rd E, Westport, CT
      View Details
    • $32 SF/Yr

      Prime Retail/Medical Westport Location

      Freestanding building on Post Road with high visibility and ample parking.
      345 Post Rd W, Westport, CT
      View Details
    • Contact for pricing

      Furnished Office Space with Terrace

      Fully furnished office space featuring a private terrace and natural light.
      1221 Post Rd E , Westport, CT
      View Details
    • $3,800/Mo

      Downtown Creative Space with Mezzanine

      Unique 1,454 SF creative space in downtown Westport.
      21-23 Jesup Rd, Westport, CT
      View Details

    FAQs

    What type of property is this?
    Creative space - Unique 1,454 SF office space in downtown Westport.
    Where is this creative space located?
    The property is located at 21 Jesup Rd Westport, CT.
    What are key features of this property?
    This property features: Prime Downtown location overlooking Jesup Green, across from the Westport Public Library & Police Station, and near shops/amenities/parking.; Unique office space with a mezzanine level (1,454 SF total: 1,107 SF + 347 SF mezzanine).; Ideal for creative professionals or a home/office business.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Christopher Maglione
    Real Estate License ID: CT
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    21 Jesup Rd, Westport, CT 06880
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!