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    1111 Putnam Ave Greenwich, CT 06878
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    1111 Putnam Ave, Greenwich, CT 06878

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    • Office Spaces
    • 4,550 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office Spaces

    Property Details for 1111 Putnam Ave

    Property type
    Office Spaces

    Description

    This exceptional executive office space at 1111 East Putnam Avenue in Greenwich, Connecticut offers 4,550 square feet of fully vacant, modern office space. The property is ideally situated in Fairfield County, offering unparalleled convenience and accessibility. Suites are available in sizes ranging from a minimum of 250 square feet to a maximum contiguous space of 1,650 square feet, providing flexibility for businesses of various sizes. The building boasts recently renovated common areas, creating a professional and inviting atmosphere. High-speed internet access is readily available throughout the building, ensuring seamless connectivity for tenants. The location is a significant advantage, with easy access to I-95 for convenient commuting. Furthermore, the property is within walking distance of the Riverside Train Station, providing effortless access to public transportation. A variety of amenities are also within easy reach, including Balducci's, Aux Delices, banks, and numerous shops, enhancing the overall convenience and appeal of this location. Ample parking is provided, with a generous ratio of 3 parking spaces for every 1,000 square feet leased. This presents a unique opportunity to secure premium office space in a highly desirable Greenwich location.

    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
    -73.5842
    Latitude
    41.0411

    Comparable in this City

    • Value Estimation
      $1,500,000
      2,314 SF

      1171 Putnam Ave Ste 2b

      CONDOMINIUM OFFICES
      1171 Putnam Ave Ste 2b, Riverside, CT 06878-1426
      View Details
    • Value Estimation
      $700,000
      1,379 SF

      1171 Putnam Ave Ste 2a

      CONDOMINIUM OFFICES
      1171 Putnam Ave Ste 2a, Riverside, CT 06878-1426
      View Details
    • Value Estimation by Request
      1,811 SF

      1171 Putnam Ave Ste 1b

      CONDOMINIUM OFFICES
      1171 Putnam Ave Ste 1b, Riverside, CT 06878-1426
      View Details
    • Value Estimation
      $590,000
      2,379 SF

      1171 Putnam Ave Ste 2d

      CONDOMINIUM OFFICES
      1171 Putnam Ave Ste 2d, Riverside, CT 06878-1426
      View Details
    • Value Estimation
      $610,000
      2,459 SF

      1171 Putnam Ave Ste 1a

      CONDOMINIUM OFFICES
      1171 Putnam Ave Ste 1a, Riverside, CT 06878-1426
      View Details
    • Value Estimation by Request
      1,263 SF

      1171 Putnam Ave Ste 1e

      CONDOMINIUM OFFICES
      1171 Putnam Ave Ste 1e, Riverside, CT 06878-1426
      View Details

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      Prime Land on East Putnam

      Undeveloped land in Riverside section of Greenwich.
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      Riverside Waterfront Sanctuary Opportunity

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      Riverside Corner Mixed-Use Investment

      1.14 acre corner lot with mixed-use investment potential.
      1116-1130 E Putnam Ave, Greenwich, CT 06878
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    Similar Nearby for Lease

    • Contact for pricing
      1,575 SF

      Riverside Office Suite For Rent

      Bright office suite with flexible layout and convenient location.
      1155 E Putnam Ave, Riverside, CT 06878
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    • $3,500 /Mo
      2,841 SF

      Greenwich Office Space For Rent

      Private 2nd floor office space available in Greenwich, Connecticut.
      1155 East Putnam Ave, Greenwich, CT 06878
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    • $3,500 /Mo

      Private Second Floor Office Space

      Second floor office space available for rent in Greenwich.
      1155 E Putnam Ave, Greenwich, CT 06878
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    • Contact for pricing

      Office Space Near Riverside Station

      Office space with convenient access to transportation and amenities.
      1111 E Putnam Ave, Greenwich, CT 06878
      View Details
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    Greenwich, CT 06878
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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.

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