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    1698 Post Rd Westport, CT 06880

    Sponsored
    For Sale
    $1,999,000

    Westport CT office building, high ROI potential.

    Property size:
    9,771 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Westport, Connecticut office building, known as Peppermill Place, presents a compelling investment opportunity. Located at 1698 Post Rd E, this three-story, Class B property boasts 9,771 square feet of space, with 9,402 net rentable square feet across seven units. Built in 1982 and renovated in 2012, the property features a desirable mix of creative, executive, and medical office spaces, making it highly versatile. The current occupancy is 66%, generating a NOI of $171,100, with a pro-forma NOI of $171,000 and a 7.10% cap rate (7.20% pro-forma). The asking price is $1,999,000, translating to $204.58 per square foot. The property sits on a 22,500 square foot lot and includes 38 parking spaces. The building is zoned B2 and offers an elevator and ADA compliance. The lease type is NN+, with a vacancy rate allowing for immediate income generation or flexible tenant customization. Annual rent bumps are set at 2.5%. The property's location offers a quiet and discreet entrance off Post Road, providing excellent visibility and accessibility. Its adaptable layout is ideal for various uses, including medical practices (physical therapy, med spa, chiropractic, wellness), traditional offices, and creative lofts. The significant upside potential includes the possibility of conversion to residential use. This owner/user investment opportunity offers strong cash flow and significant long-term growth potential.

    Property Features for 1698 Post Rd

    General Information

    Property type
    Medical offices
    Square Feet
    9,771 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1982/2012
    Buildings
    3
    Stories
    3
    Units
    7

    HighLights

    • Strong current cash flow with significant upside potential.
    • 66% occupancy with flexible lease terms.
    • High potential for conversion to residential use.
    Property Profile Location Intelligence

    Current Use by Public Records

    AMG Development LLC Business Management Consultant Dr. Lindsey Diamond Sexologist Randi Cohen, MD, ... Psychiatrist Danute Kuncas, MA, ... Psychotherapist Sofia Frank, LCSW-R Psychotherapist

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Westport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.304388388813
    Latitude
    41.138452731945

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    FAQs

    What type of property is this?
    Medical office - Westport CT office building, high ROI potential.
    Where is this medical office located?
    The property is located at 1698 Post Rd Westport, CT.
    What is the asking price?
    The asking price for this property is $1,999,000.
    What are key features of this property?
    This property features: Strong current cash flow with significant upside potential.; 66% occupancy with flexible lease terms.; High potential for conversion to residential use.
    Request Owner's contact information
    1698 Post Rd Westport, CT 06880
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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
    1698 Post Rd Westport, CT 06880
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