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    1380 Putnam Ave Greenwich, CT 06870
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    1380 Putnam Ave, Greenwich, CT 06870

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    • Retail properties & Spaces
    • 4,834 SF
    • 0.28 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Salon Varcha LLC / Hair Salon / Nail Salon

    Property Details for 1380 Putnam Ave

    Lot size
    0.28 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This vacant 4,834 square foot storefront in Greenwich, CT, is offered at $2,950,000. Located on a 0.28-acre corner lot with 21 parking spaces, the property boasts high visibility on East Putnam Avenue (Route 1) and Ferris Drive, enjoying 120 feet of frontage on East Putnam Avenue and 140 feet on Ferris Drive. The building is a single-story Class B structure within a thriving retail corridor, benefiting from high traffic volume (14,900 vehicles per day on East Putnam Avenue). Its strategic location near Interstate 95 (Exit 5), the Old Greenwich Metro-North Train Station, and numerous national retailers (including Walgreens, Starbucks, and Chipotle) ensures strong consumer traffic. The property is zoned LB and presents a value-add opportunity for owner-occupancy or lease-up, offering significant potential for return on investment. The 4.34 parking spaces per 1,000 square feet provides ample parking for customers. This location is within a supply-constrained market with consistent tenant demand. The property is currently vacant, allowing for immediate occupancy or lease-up to generate significant net operating income. This presents a unique opportunity to capitalize on the strong retail environment in Old Greenwich.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenwich
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.5723
    Latitude
    41.0443

    Comparable in this City

    • Value Estimation by Request
      3,542 SF

      228 Sound Bch Ave

      RETAIL STORES (PERSONAL SERVICES)
      228 Sound Bch Ave, Old Greenwich, CT 06870-1626
      View Details
    • Value Estimation by Request
      4,834 SF

      1380 Putnam Ave

      RETAIL STORES (PERSONAL SERVICES)
      1380 Putnam Ave, Old Greenwich, CT 06870-1302
      View Details
    • Value Estimation
      $545,000
      5,247 SF

      268 Sound Bch Ave

      RETAIL STORES (PERSONAL SERVICES)
      268 Sound Bch Ave, Old Greenwich, CT 06870-1626
      View Details
    • Value Estimation
      $1,345,000
      8,324 SF

      1340 Putnam Ave

      RETAIL STORES (PERSONAL SERVICES)
      1340 Putnam Ave, Old Greenwich, CT 06870-1333
      View Details
    • Value Estimation
      $2,005,000
      13,190 SF

      1345 Putnam Ave

      RETAIL STORES (PERSONAL SERVICES)
      1345 Putnam Ave, Old Greenwich, CT 06870-1364
      View Details
    • Value Estimation
      $815,000
      7,960 SF

      225 Sound Bch Ave

      RETAIL STORES (PERSONAL SERVICES)
      225 Sound Bch Ave, Old Greenwich, CT 06870-1607
      View Details

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    Greenwich, CT 06870
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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