1 Lafayette Cir Bridgeport, CT 06604-6021

Property Details for 1 Lafayette Cir

Year built

1905

Construction

CONCRETE

Lot size

0.88 lot acres

Property size

49,246 SF

Zone code

DCB

Property type

Showrooms

APN

BRID M:35 B:927 L:5

APU

BRIDM35B927L5

Description

This exceptional investment opportunity presents a four-story, approximately 40,000 square foot Class B office building located at 1 Lafayette Cir, Bridgeport, CT 06604. The property, built in 1905 and renovated in 2003, boasts a desirable 9% cap rate and a strong NOI of $408,332. Currently, 82% of the building is occupied by the Connecticut State Judicial Branch, a highly creditworthy tenant (AA+ rating) under a long-term lease. This "sticky" tenant provides significant stability and predictable income. The building sits on a 0.88-acre lot and includes 53 parking spaces, supplemented by ample on-street and adjacent lot parking. Additional features include a two-bay bank drive-through and roof billboards with potential for monetization. The property benefits from a convenient location with a Walk Score of 91 ("Walkers Paradise") and a Transit Score of 62 ("Good Transit"). The permitted zoning is DX1. The asking price is $4,500,000, translating to $112.50 per square foot. In-place professional management is available. This is a rare opportunity to acquire a stable, high-yielding investment property with a strong anchor tenant in a prime location. The property's APN is 0927--05.

Location Insight

City

Bridgeport

County

Fairfield

State

Connecticut

Longitude

-73.1933

Latitude

41.1775

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments