30 Milbank AveGreenwich, CT 06830

Property Details for 30 Milbank Ave

Year built

1840

Construction

FRAME

Lot size

0.35 AC

Property size (Sq ft)

3,650 SF

Zone code

R-6

Property type

Office properties

Property subtype

Office buildings

APN

GREE M:01 B:1628/S

APU

GREEM01B1628S

Description

This exceptional three-story office building, known as the Robert Mead House, presents a unique investment opportunity in the heart of Greenwich, Connecticut. Spanning 3,975 square feet, this historic building, constructed in 1854 and extensively renovated in 2015, boasts high-quality finishes and significant character. Located at 30 Milbank Avenue, it benefits from a superb location just two blocks from Greenwich Avenue's vibrant retail scene, offering high visibility and accessibility. The property includes 16 parking spaces and sits on a 0.35-acre lot. Currently operating at 100% occupancy with a single tenant under a net lease expiring April 30, 2026 (1.4 years remaining), this building offers multiple paths to upside potential. The building's flexible layout is suitable for single or multi-tenant occupancy, catering to diverse needs. The property is zoned HRO (Historic Residential Overlay), allowing for a variety of professional and medical office uses. Significant capital expenditures exceeding $500,000 have been invested in recent years to restore and modernize the property, ensuring its continued appeal. The asking price is $4,500,000. This presents a rare chance to acquire a landmark property in one of the wealthiest communities in the United States, with a strong tenant base and significant upside potential. The building's elegant features, including large rooms, high ceilings, numerous fireplaces, and beautiful millwork, contribute to its unique charm and appeal. The building's Class B designation reflects its high-quality renovation and desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $603,454

  6.5%

  $557,034

  7%

  $517,246

• Comparable approach

  Method

  Valuation

  Relative Method

  $476,909

  Geo Method

  $476,909

• Alternative Use

  Use

  Valuation

  Residential

  $690,723

  Hospitality

  $632,698

  Educational

  $526,398

  Medical

  $544,501

  Retail

  $818,841

Location Insight

City

Greenwich

County

Fairfield

State

Connecticut

Latitude

41.0334

Longitude

-73.623

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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