Multifamily Property with Floor-by-Floor
For Sale
$798,000
Pending
95-97 Savoy Street, Bridgeport, CT 06606
Multifamily property with RBB zoning, natural gas steam heat, and unfinished concrete storage space.
Property Size3,644 SF
Days on Market169
Property Features for 95-97 Savoy Street
General Information
Standard status
Pending
Size
3,644 SF
Property subtype
Residential Income
Zoning
RBB
Taxes and HOA fees
Annual Taxes
$10,213
Amenities
Natural Gas, Steam
Full, Storage Space, Unfinished, Concrete
Units on different Floors, 3updown - Unit(s) per Floor
Building Details
Building Size
3,644 SF
Year Built
1924
Listing Agency:
Alltyme Realty
(203) 330-9139
Listed By:
Jide Azeez · License #REB.0754359
Source:
Evrealestate
Added: Mar 16
Changed: Aug 30
Last Checked: Aug 30 at 1:01PM
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 Alltyme Realty
Investment Insights
Based on property information with market context.
This multifamily property contains 3,644 square feet and was built in 1924. The configuration places units on different floors, with a 3updown - Unit(s) per Floor arrangement. Interior features include natural gas steam heat, a full unfinished basement, storage space, and concrete construction elements.
The property is located at 95-97 Savoy Street in Bridgeport, Connecticut, within Fairfield County. RBB zoning applies to the property. Access is described from Main Street to Savoy Street, closer to Summit.
The property is located at 95-97 Savoy Street in Bridgeport, Connecticut, within Fairfield County. RBB zoning applies to the property. Access is described from Main Street to Savoy Street, closer to Summit.
Key Highlights
- 3,644‑square‑foot multifamily property built in 1924
- Units on different floors with 3updown - Unit(s) per Floor configuration
- RBB zoning
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
$42,864
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
5.37%
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%
$857,280
$857.3K
Cap Rate 7%
$612,343
$612.3K
Cap Rate 9%
$476,267
$476.3K
Market Conditions
NOI Build-Up for 3,644 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
$82.2K $22.56/SF
− Vacancy
−$4.3K −$1.17/SF
EGI
$77.9K $21.39/SF
− OpEx
−$35.1K −$9.62/SF
NOI
$42.9K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
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%
$857,280
Cap Rate 7%
$612,343
Cap Rate 9%
$476,267
Alternative Uses
Best Use
Apartment 5plus
$612.3K
$535.8K – $714.4K
NOI $42,864 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$910.1K – $1.21M
NOI $72,805 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,334
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property with RBB zoning, natural gas steam heat, and unfinished concrete storage space.
Where is this multifamily property located?
The property is located at 95-97 Savoy Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $798,000.
What are key features of this property?
This property features: 3,644‑square‑foot multifamily property built in 1924; Units on different floors with 3updown - Unit(s) per Floor configuration; RBB zoning
