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    191 Congress St Bridgeport, CT 06604

    Sponsored
    For Sale
    $38,000,000

    Brand-new Bridgeport mixed-use property.

    Property size:
    98,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use development in Bridgeport, Connecticut, presents a compelling investment opportunity. Located at 191 Congress St, 06604, this newly constructed property encompasses 98,000 square feet and features 97 units, comprising 92 residential apartments and 5 retail spaces. The apartments offer a diverse range of one, two, and three-bedroom layouts, catering to a broad tenant base. The property's strategic location near major highways, the Stratford train line, and universities ensures high occupancy rates and strong rental demand. A significant advantage is the existing 25 leased residential units, generating immediate income. All necessary town approvals are in place, eliminating potential delays. The building boasts modern amenities including underground parking, central air conditioning, and gas heating. Furthermore, a Temporary Certificate of Occupancy (TCO) has already been obtained, minimizing any potential hurdles. This turnkey investment requires no renovations, updates, or further inspections, offering a seamless transition for the new owner. Priced at $38,000,000, this property represents a rare opportunity to acquire a high-performing asset in a thriving Fairfield County location.

    Property Features for 191 Congress St

    General Information

    Property type
    Individual retail properties
    Square Feet
    98,000 SF

    Building Details

    Units
    97

    HighLights

    • $38,000,000 asking price.
    • 98,000 square foot mixed‑use building with retail and residential components.
    • 97 units total (92 residential, 5 retail).
    • $387.76 price per square foot.
    • Located at 191 Congress St, Bridgeport, CT 06604.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Bridgeport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.1910143
    Latitude
    41.1818176

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    FAQs

    What type of property is this?
    Individual retail property - Brand-new Bridgeport mixed-use property.
    Where is this individual retail property located?
    The property is located at 191 Congress St Bridgeport, CT.
    What is the asking price?
    The asking price for this property is $38,000,000.
    What are key features of this property?
    This property features: $38,000,000 asking price.; 98,000 square foot mixed-use building with retail and residential components.; 97 units total (92 residential, 5 retail).
    Request Owner's contact information
    191 Congress St Bridgeport, CT 06604
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    Realmo Value Estimation

    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.

    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.

    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
    191 Congress St Bridgeport, CT 06604
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