Vacant Office Building in
For Sale
Contact for pricing
Pending
924 Noble Avenue, Bridgeport, CT 06608
Vacant 874 SF office building with partially finished basement.
Property Size874 SF
Lot Size0.21 Acres
Days on Market110
Property Features for 924 Noble Avenue
General Information
Standard status
Pending
Size
874 SF
Lot size
0.21 Acres
Property subtype
Office
Building Details
Year Built
1947
Buildings
1
Stories
1
Units
6
Listing Agency:
National Multifamily
Listed By:
Matt Cawley · License #REB.0791595
Source:
Crexi
Added: May 12
Changed: Aug 22
Last Checked: Aug 21 at 5:09PM
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 National Multifamily
Investment Insights
Based on property information with market context.
Located at 924 Noble Avenue in Bridgeport, Connecticut, this vacant 874 SF office building includes an additional 874 SF partially finished basement. Situated on a 0.21-acre lot, the property offers flexibility for an owner-user or investor to occupy, renovate, or reposition the asset. The property will be delivered fully vacant, allowing for immediate use or customization. It is well positioned in the East Side neighborhood of Bridgeport, less than 1.5 miles from Steelepointe Harbor, Downtown Bridgeport, and the Bridgeport Metro-North Station, which provides direct service to Grand Central Terminal in Midtown Manhattan. The surrounding area benefits from Bridgeport's ongoing revitalization, with new investment continuing to flow into the city's waterfront and commercial corridors. Seller financing is available with the property, providing an opportunity to structure acquisition terms. Ownership will consider offers with 25% down at a 6% interest rate, interest only, for a maximum term of two years.
Key Highlights
- Seller financing available: 25% down, 6% interest, interest‑only for up to two years.
- Vacant 874 SF office building with an additional 874 SF partially finished basement, allowing for immediate use or customization.
- Located less than 1.5 miles from Steelepointe Harbor, Downtown Bridgeport, and the Bridgeport Metro‑North Station (direct service to NYC).
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
$12,092
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
3.45%
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%
$241,840
$241.8K
Cap Rate 7%
$172,743
$172.7K
Cap Rate 9%
$134,356
$134.4K
Market Conditions
NOI Build-Up for 874 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
$19.2K $21.96/SF
− Vacancy
−$3.1K −$3.51/SF
EGI
$16.1K $18.45/SF
− OpEx
−$4.0K −$4.61/SF
NOI
$12.1K $13.83/SF
Area
Bridgeport, CT
Vacancy
16.00%
Lease Rate
$21.96 /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%
$241,840
Cap Rate 7%
$172,743
Cap Rate 9%
$134,356
Alternative Uses
Best Use
Office B
$172.7K
$151.2K – $201.5K
NOI $12,092 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$249.5K
$218.3K – $291.0K
NOI $17,462 @ 7.0% cap · market cap 4.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 06608, CT
14,312
Population
4,915
Households
2.9
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
1.0 sq mi
ZIP Area
14,312
Density / Sq Mi
$43,008
Median Household Income
$30,524
Median Earnings
$1,311
Median Rent
$222,900
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 building - Vacant 874 SF office building with partially finished basement.
Where is this office building located?
The property is located at 924 Noble Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Seller financing available: 25% down, 6% interest, interest‑only for up to two years.; Vacant 874 SF office building with an additional 874 SF partially finished basement, allowing for immediate use or customization.; Located less than 1.5 miles from Steelepointe Harbor, Downtown Bridgeport, and the Bridgeport Metro‑North Station (direct service to NYC).
