360 Tunxis Hill RdFairfield, CT 06825

Property Details for 360 Tunxis Hill Rd

Year built

1984

Construction

STEEL FRAME

Lot size

0.85 AC

Property size (Sq ft)

10,245 SF

Zone code

DCD

Property type

Other commercial real estate

Property subtype

Showrooms

APN

FAIR M:40 B:331

APU

FAIRM40B331

Description

This 20,273 square foot, three-story flex building in Fairfield, CT, presents a significant redevelopment opportunity. Situated on 0.85 acres in the Designed Commercial District (DCD) Zone, the property boasts 253 linear feet of frontage on Route 58, offering excellent visibility and accessibility. The building, constructed in 1984, includes a 10,028 square foot ground-level garage with 107 parking spaces, a 3,415 square foot first floor previously used as a car dealership, and a 6,830 square foot upper two floors previously occupied by a mixed-use tenant. The property features full HVAC, a wet sprinkler system, an elevator, and two curb cuts on Route 58, plus a side entrance to the upper-level garage on Berkeley Road. Its strategic location near I-95 (1.2 miles), the Fairfield Metro Train Station (1.6 miles), and a Greater Bridgeport Transit Bus Stop, combined with proximity to Fairfield University (less than two miles) and neighboring businesses like TJ Maxx, Stop & Shop, Aldi, and Floor & Decor, makes it an attractive investment. The asking price is $3,600,000, translating to $177.58 per square foot. The property is currently vacant and available for immediate occupancy. Zoning permits a variety of uses, including retail, mixed-use, or residential projects, subject to approval. This offering presents a rare chance to acquire prime real estate with substantial redevelopment potential in a high-traffic area.

• CAP approach

  CAP return

  Valuation

  6%

  $2,489,893

  6.5%

  $2,298,362

  7%

  $2,134,194

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,373,302

  Geo Method

  $3,373,302

• Alternative Use

  Use

  Valuation

  Residential

  $1,938,755

  Hospitality

  $1,775,889

  Educational

  $1,477,519

  Medical

  $1,528,333

  Retail

  $2,298,362

Location Insight

City

Fairfield

County

Fairfield

State

Connecticut

Latitude

41.177

Longitude

-73.2296

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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