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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Investment properties
2974 Fairfield Ave 3018 Bridgeport, CT 06605-3216
Individually Owned
5-yr Hold
Property ID
US15-0409140
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Lot
0.34 ac (14,919 SF)
Zoning code
ORS
APN
BRID M:8 B:102 L:19-A
UPID
US15-0409140
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Timothy's Ice Cream Grocery & Convenience Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$995k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$850k
Owner & transaction history
Joseph M Formato · 5 yrs held
Joseph M Formato
since 2021
Last sale
$680,000
5 recorded transactions
Zoning & alternative use
ORS · Bridgeport, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Bridgeport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bridgeport submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,050,000
ML approach
$995,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $680k (Mar 5 2021)
Last sale anchor
$680k
Mar 5 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$30,921
Tax year 2023
Assessed value
$711,650
Assessed 2023
Previous assessed
$711,650
+0.0% YoY
Effective rate
4.34%
On assessed value
Assessed land
$245,240
Assessed improvement
$466,410
Applied tax rate
100.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Heating
NONE
Cooling
YES
Buildings
2
Units
17
Lot
0.34 ac (14,919 SF)
Zoning code
ORS
APN
BRID M:8 B:102 L:19-A
UPID
US15-0409140
Jurisdiction
BRIDGEPORT
Zoning & alternative use
ORS · Bridgeport, CT
Zoning ORS · permitted uses
ORS · Bridgeport, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bridgeport. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Cooling
Yes
Buildings
2
Units
17
Lot
0.34 ac
Current owner
From public records · entity-resolved
Joseph M Formato
Individual
Mailing address
3870 BLACK ROCK TPKE, FAIRFIELD, CT 06825-7211
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2021
—
Joseph M Formato
Joseph M Formato
Quit Claim Deed
related
—
Sep 28, 2020
—
Joseph M Formato
—
Deed
related
$254,174 · Connecticut Community Bank NA
Jun 10, 1996
—
Joseph M Formatu
—
Deed Of Trust
related
$200,000 · Angelo C Memoli
Feb 27, 1996
—
Joseph M Formato
—
Deed Of Trust
related
$200,000 · Peter Dinardo Tr
Jan 19, 1990
$680,000
David Chase
Formato,joseph
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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