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    24 Bailey Ave Ridgefield, CT 06877-4555
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    Property profile & analytics

    24 Bailey Ave, Ridgefield, CT 06877-4555

    View on Map
    • Office buildings
    • 2,714 SF
    • 0.14 lot acres
    Off-Market
    Last Sale Jun 13, 2022
    Property ID
    US15-0894497
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Carol T. Mahlstedt, PSYD / Physician / Medical Clinic
    • Patrick Mcauliffe, PHD / Physician / Medical Clinic
    • Thomas Sturges Construction, llc / Construction Company
    • Finer Homes Inc / Construction Company
    • Thomas Belote / Law Firm

    Property Details for 24 Bailey Ave

    Year built
    1988
    Construction
    FRAME
    Lot size
    0.14 lot acres
    Zone code
    CBD
    Property type
    Office buildings
    APN
    RIDG M:E15 B:0188
    APU
    RIDGME15B0188

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jun 13, 2022 — 24 Bailey Avenue LLC D&j Of Ridgefield LLC Warranty Deed $558k · Fairfield County Bank
    Apr 27, 2009 $1 D&j Co Ridgefield LLC D&j Co Grant Deed · related —
    Feb 26, 2009 — D&j Ridgefield LLC — Deed Of Trust · related $420k · Union Savings Bank
    Feb 26, 2009 $1 D&j Ridgefield LLC Sturges,donald C Grant Deed · related —
    May 3, 2006 $550,000 Sturges Brothers INC Smith,crosby R Warranty Deed —
    Jan 31, 2006 $1,040,000 Sturges Bros INC Wasp,daniel C Warranty Deed $832k · Ffld County Bank Corp
    Jul 10, 1991 — Donald Sturges — Deed Of Trust · related $50k · Ridgefield Bank
    May 2, 1991 — Donald Sturges — Deed Of Trust · related $75k · Ridgefield Bank
    Sep 6, 1989 — Donald Sturges — Deed Of Trust · related $400k · Village Bank & Trust
    Apr 22, 1988 — James Sturges — Deed Of Trust · related $300k · Ridgefield Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ridgefield
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.4964
    Latitude
    41.2817
    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
    $13,010
    $308,000
    $196,070
    $504,070
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      5,293 SF

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    • Value Estimation
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      13,864 SF

      35 Copps Hl Rd

      OFFICE BUILDING
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    • Value Estimation by Request
      3,468 SF

      139 Ethan Allen Hwy

      OFFICE BUILDING
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    • Value Estimation by Request
      164 SF

      30 Bailey Ave

      OFFICE BUILDING
      30 Bailey Ave, Ridgefield, CT 06877-4512
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    • Value Estimation by Request
      1,306 SF

      40 Grv St

      OFFICE BUILDING
      40 Grv St, Ridgefield, CT 06877-4106
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    • Value Estimation
      $615,000
      2,615 SF

      27 Catoonah St

      OFFICE BUILDING
      27 Catoonah St, Ridgefield, CT 06877-4400
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    Similar Nearby for Sale

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      Ridgefield Office Building For Sale

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    • $289,400
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      Downtown Ridgefield Office Space

      Professional office space in downtown Ridgefield with shared amenities.
      90 Grove St, Ridgefield, CT 06877
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    • $410,200
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      Downtown Ridgefield Executive Office Space

      Executive office space in downtown Ridgefield with walkable access.
      90 Grv St #Ste, Ridgefield, CT 06877
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    Similar Nearby for Lease

    • $28 SF/Yr
      1,447 SF

      Downtown Ridgefield Office Space Available

      Professional office space in downtown Ridgefield with shared amenities.
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    • $28 SF/Yr
      2,344 SF

      Downtown Ridgefield Executive Office Space

      Executive office space in downtown Ridgefield with premium amenities.
      90 Grv St #Ste, Ridgefield, CT 06877
      View Details
    • $650 /Mo
      114 SF

      Downtown Ridgefield Co-Working Office

      Top-tier co-working space in downtown Ridgefield, steps from Main Street.
      90 Grv St #Ste, Ridgefield, CT 06877
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    • $3,000 /Mo
      1,200 SF

      Renovated Victorian Retail/Office Unit

      First floor unit near Main Street with parking and accessibility.
      27 Catoonah St, Ridgefield, CT 06877
      View Details
    • $700 /Mo
      150 SF

      Multi-Use Office Space For Rent

      Office space suitable for retail or beauty services.
      38A Grove St, Ridgefield, CT 06877
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    24 Bailey Ave
    Ridgefield, CT 06877-4555
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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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