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    1116 Putnam Ave Greenwich, CT 06878

    Sponsored
    For Sale
    $4,700,000

    Prime Greenwich location, mixed-use potential.

    Property size:
    9,592 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Greenwich, CT property, located at 1116-1130 East Putnam Avenue, presents a compelling investment opportunity. The 43,338 square foot lot boasts a prime corner location in the prestigious Riverside section, offering excellent visibility along Route 1. The property includes two commercial buildings and two residential buildings, totaling 9,592 square feet. The main commercial building, constructed between 1920 and 1950 and remodeled in 2006, comprises 6,036 square feet and features four storefronts, a six-bay garage, and a basement. Currently, Mavis Tire is the primary commercial tenant, along with three smaller stores. The two residential buildings, built in 1900 (2,164 sq ft) and 1936 (1,056 sq ft), each offer two stories over a basement, and there's also a separate two-car garage (336 sq ft). The property's zoning is a blend of LB (Local Business, 76%) and R-12 (Residential, 24%), allowing for a variety of commercial and/or multifamily uses. The rectangular lot shape and relatively flat topography further enhance its development potential. The asking price is $4,700,000. This property offers a unique blend of existing income and significant redevelopment potential in a highly desirable location. The year built for the main commercial building is 1950.

    Property Features for 1116 Putnam Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    9,592 SF

    Building Details

    Year Built/Renovated
    1950/2006
    Buildings
    2
    Stories
    3

    HighLights

    • Prime Greenwich, CT corner location at 1116‑1130 East Putnam Avenue, on Route 1.
    • 43,338 SF lot with 9,592 SF of buildings: two commercial and two residential.
    • Main commercial building (6,036 SF): 1950 construction, remodeled 2006, four storefronts, six‑bay garage, basement; anchored by Mavis Tire.
    • Two residential buildings: 2,164 SF (1900 construction) and 1,056 SF (1936 construction), each two stories over basement; plus a separate two‑car garage (336 SF).
    • LB (76%) and R‑12 (24%) zoning allows for diverse commercial and/or multifamily uses.
    • $4,700,000 asking price.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Greenwich
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.584644063542
    Latitude
    41.040680575771

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    FAQs

    What type of property is this?
    Multifamily property - Prime Greenwich location, mixed-use potential.
    Where is this multifamily property located?
    The property is located at 1116 Putnam Ave Greenwich, CT.
    What is the asking price?
    The asking price for this property is $4,700,000.
    What are key features of this property?
    This property features: Prime Greenwich, CT corner location at 1116-1130 East Putnam Avenue, on Route 1.; 43,338 SF lot with 9,592 SF of buildings: two commercial and two residential.; Main commercial building (6,036 SF): 1950 construction, remodeled 2006, four storefronts, six-bay garage, basement; anchored by Mavis Tire.
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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
    1116 Putnam Ave Greenwich, CT 06878
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