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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    135 Rennell Dr Southport, CT 06890

    • Showrooms
    • 8,165 SF
    • 0.36 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0454973
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Splinter Construction / General Contractor
    • Pappas MacDonnell / Advertising Agency / Marketing & Advertising

    Property Details for 135 Rennell Dr

    Year built
    1990
    Construction
    FRAME
    Lot size
    0.36 lot acres
    Property size
    8,165 SF
    Zone code
    B1
    Property type
    Showrooms
    APN
    FAIR M:243 B:27-A
    APU
    FAIRM243B27A

    Description

    This exceptional 7,500 square foot, three-story Class B office building, constructed in 1990 and renovated in 2020, presents a unique opportunity in Fairfield, Connecticut. Located at 135 Rennell Drive, this property boasts a prime location, less than three blocks from I-95, the Southport Train Station, Southport Center, and Route 1/Post Road, offering easy access to numerous retail and dining options. The building features two suites, with one suite currently vacant, totaling 3,750 square feet of immediately available space. This minimum divisible space is also the maximum contiguous space available. The building sits on a 0.36-acre lot and includes 30 parking spaces and an elevator for convenient access to all three floors. The B1 zoning allows for a variety of commercial uses. Meticulously maintained, this property offers a blend of convenience and charm, situated in the picturesque Southport neighborhood, just a short walk from Southport Harbor. The building's pristine condition reflects the owner-occupier's commitment to quality. This is an ideal location for businesses seeking a well-maintained, conveniently located office space in a desirable Fairfield setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,085,000
      Market price range: $471k - $1.84M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Southport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2889
    Latitude
    41.1372
    CBSA code
    14860
    CBSA name
    BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $49,951
    $956,620
    $859,110
    $1,815,730
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $605,000
      3,156 SF

      411 Old Post Rd

      SHOW ROOM, WAREHOUSE • 3,156 SF
      411 Old Post Rd, Southport, CT 06890-1355
      View Details
    • Value Estimation
      $845,000
      7,598 SF

      130 Old Post Rd

      SHOW ROOM, WAREHOUSE • 7,598 SF
      130 Old Post Rd, Southport, CT 06890-1302
      View Details
    • Value Estimation
      $930,000
      4,724 SF

      3377 Post Rd

      SHOW ROOM, WAREHOUSE • 4,724 SF
      3377 Post Rd, Southport, CT 06890
      View Details
    • Value Estimation
      $515,000
      4,329 SF

      2500 Post Rd

      SHOW ROOM, WAREHOUSE • 4,329 SF
      2500 Post Rd, Southport, CT 06890
      View Details
    • Value Estimation
      $975,000
      5,262 SF

      105 Woodrow Ave

      SHOW ROOM, WAREHOUSE • 5,262 SF
      105 Woodrow Ave, Southport, CT 06890-1121
      View Details
    • Value Estimation by Request
      1,462 SF

      5 Pease Ave

      SHOW ROOM, WAREHOUSE • 1,462 SF
      5 Pease Ave, Southport, CT 06890
      View Details

    Similar Nearby for Sale

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      Fairfield Commercial Investment Opportunity

      Prime Fairfield location, dual-use building.
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      View Details
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      Fairfield Specialty Property For Sale

      Specialty property available for purchase in Fairfield, Connecticut.
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      Fairfield Specialty Property For Sale

      Specialty property available for purchase in Fairfield, Connecticut.
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    • $950,000
      2,644 SF

      Southport Colonial with Water Views

      Classic colonial in Southport with in-law suite and water views.
      647 Bronson Rd, Fairfield, CT 06890
      View Details

    Similar Nearby for Lease

    • $28 SF/Yr
      2,130 SF

      Professional Office Suites For Lease

      Office suites available in Southport Crossing, ranging from 1,800-4,400 SF.
      3530 Post Rd, Southport, CT 06890
      View Details
    • Contact for pricing
      3,750 SF

      Southport Office Space For Rent

      Prestigious Southport office space with unique architect-designed interior.
      135 Rennell Dr, Southport, CT 06890
      View Details
    • New
      $7,950 /Mo
      1,535 SF

      Charming Southport Harbor Office Space

      Charming 1535 SF office space with harbor views.
      656 Harbor Rd, Fairfield, CT 06890
      View Details
    Request Owner's contact information
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    135 Rennell Dr
    Southport, CT 06890
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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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