Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    229 Madison Ave Bridgeport, CT 06604

    • Showrooms
    • 5,400 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $390,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0154390
    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

    • Showrooms

    Property Details for 229 Madison Ave

    Year built
    1917
    Construction
    FRAME
    Lot size
    0.08 lot acres
    Property size
    5,400 SF
    Zone code
    RC
    Property type
    Showrooms
    APN
    BRID M:41 B:1023 L:7
    APU
    BRIDM41B1023L7

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $365,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $414,000
      Market price range: $414k - $971k
      AI Estimate
      $322,000
      Market price range: $298k - $809k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $600,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Bridgeport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.1974
    Latitude
    41.1869
    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
    $8,588
    $58,890
    $138,770
    $197,660
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $870,000
      232,964 SF

      314 Fairfield Ave, Unit 322

      SHOW ROOM, WAREHOUSE • 232,964 SF
      314 Fairfield Ave, Bridgeport, CT 06604-4208
      View Details
    • Value Estimation
      $985,000
      30,780 SF

      815 Lafayette Blvd

      SHOW ROOM, WAREHOUSE • 30,780 SF
      815 Lafayette Blvd, Bridgeport, CT 06604-4707
      View Details
    • Value Estimation
      $1,135,000
      116,802 SF

      855 Main St

      SHOW ROOM, WAREHOUSE • 116,802 SF
      855 Main St, Bridgeport, CT 06604-4915
      View Details
    • Value Estimation
      $1,215,000
      62,432 SF

      207 State St, Unit 215

      SHOW ROOM, WAREHOUSE • 62,432 SF
      207 State St, Bridgeport, CT 06604-4807
      View Details
    • Value Estimation
      $385,000
      2,736 SF

      160 Fairfield Ave

      SHOW ROOM, WAREHOUSE • 2,736 SF
      160 Fairfield Ave, Bridgeport, CT 06604-4205
      View Details
    • Value Estimation
      $555,000
      6,720 SF

      1342-1344 Park Ave

      SHOW ROOM, WAREHOUSE • 6,720 SF
      1342-1344 Park Ave, Bridgeport, CT 06604
      View Details

    Similar Nearby for Sale

    • $38,000,000
      98,000 SF

      Congress Street Mixed-Use Investment

      Brand-new Bridgeport mixed-use property.
      191 Congress St, Bridgeport, CT 06604
      View Details
    • $950,000
      3,492 SF

      Bridgeport Commercial Building For Sale

      Versatile 3,500 SF building in a high-demand mixed-use area.
      553 Center Street Ext, Bridgeport, CT 06604
      View Details
    • $625,000
      3,906 SF

      Established Grocery & Deli Business

      Long-standing business and property near Seaside Park for sale.
      160 Main St, Bridgeport, CT 06604
      View Details
    • $249,000

      Established Dry Cleaning Business For Sale

      Established dry cleaning business with loyal clientele in downtown Bridgeport.
      23 Lafayette Cir, Bridgeport, CT 06604
      View Details
    • $38,000,000
      74,000 SF

      Bridgeport Mixed-Use Investment

      Luxury apartments & retail, high NOI.
      199 Congress St, Bridgeport, CT 06604
      View Details
    • $449,900

      Victorian Office Building with Kitchen

      Victorian office building with commercial kitchen, residential conversion potential.
      880 Fairfield Ave, Bridgeport, CT 06604
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,450 SF

      Downtown Creative Office/Retail Space

      Showcase space in downtown Bridgeport near transportation.
      155-189 State St, Bridgeport, CT 06604
      View Details
    • Contact for pricing
      10,501 SF

      Prime Retail Space Available

      Retail space in business district, near transit, I-95.
      38-56 Fairfield Ave, Bridgeport, CT 06604
      View Details
    • Contact for pricing
      11,834 SF

      Retail Space with Drive-Thru Potential

      Retail space with parking and easy transportation access.
      35 John St, Bridgeport, CT 06604
      View Details
    • $3,200 /Mo
      660 SF

      Bridgeport Commercial Space For Lease

      High-visibility corner location ideal for retail, office, or restaurant.
      986 Main St, Bridgeport, CT 06604
      View Details
    • $18 SF/Yr
      1,550 SF

      Retail Space in Residential Conversion

      Newly renovated retail space with built-in customer base.
      855 Main St, Bridgeport, CT 06604
      View Details
    • $2,200 /Mo
      595 SF

      Downtown Bridgeport Commercial Space Available

      High-visibility commercial space in downtown Bridgeport, suitable for various businesses.
      84 John St, Bridgeport, CT 06604
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    229 Madison Ave
    Bridgeport, CT 06604
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.