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Property profile & analytics
OFF-MARKET
Estimated value
$920,000
Showrooms
3020-3024 Fairfield Ave Bridgeport, CT 06605
Individually Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US15-0680570
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
2018
Construction
FRAME
Total area
6,020 SF
Lot
0.34 ac (14,789 SF)
Zoning code
ORS
APN
BRID M:8 B:103 L:21
UPID
US15-0680570
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$982k
Blend (final)
Blend
$920k
Owner & transaction history
Joseph Formato · 8 yrs held
Joseph Formato
since 2017
6 recorded transactions
Zoning & alternative use
ORS · Bridgeport, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.4M
+90.7%
Retail stores
$1.1M
+51.7%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$735,000
Current use
AUTO REPAIR, GARAGE
$1,405,000
Change: +91% · Conversion: Difficult
RETAIL STORES
$1,120,000
Change: +52% · Conversion: Easy
OFFICE BUILDING
$725,000
Change: -2% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$700,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$920k
Range $828k – $1.01M · ±10%
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
$153 / SF
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
$33,633
Tax year 2023
Assessed value
$774,070
Assessed 2023
Previous assessed
$774,070
+0.0% YoY
Effective rate
4.34%
On assessed value
Assessed land
$256,430
Assessed improvement
$517,640
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
2018
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
9
Bathrooms
8
Total area
6,020 SF
Lot
0.34 ac (14,789 SF)
Zoning code
ORS
APN
BRID M:8 B:103 L:21
UPID
US15-0680570
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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$735,000
AUTO REPAIR, GARAGE
Est. value
$1.4M
RETAIL STORES
Est. value
$1.1M
OFFICE BUILDING
Est. value
$725,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$700,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2018
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
9
Bathrooms
8
Lot
0.34 ac
Current owner
From public records · entity-resolved
Joseph Formato
Individual
Mailing address
3870 BLACK ROCK TPKE, FAIRFIELD, CT 06825-7211
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2017
—
Joseph Formato
Joseph Formato
Quit Claim Deed
related
—
Oct 30, 2014
—
Deparle Properties INC
Mason Capital LLC
Quit Claim Deed
related
—
Jan 11, 2008
$1,450,000
Gilbreit Properties LLC
Deparle Properties INC
Warranty Deed
—
Feb 19, 2004
—
Deparle Properties INC
—
Deed Of Trust
related
$224,000 · Washington Mutual Bank
Apr 21, 1993
—
Richard Deparle
—
Deed Of Trust
related
$58,200 · Peoples Bank
Jan 19, 1990
—
David Chase
—
Deed Of Trust
related
$112,000 · Peoples Bank
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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