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    360 Tunxis Hill Rd Fairfield, CT 06825
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    360 Tunxis Hill Rd, Fairfield, CT 06825

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    • Showrooms
    • 10,245 SF
    • 0.85 lot acres
    For Sale
    $3,100,000
    View Listing →
    Fairfield Redevelopment Opportunity on Route 58 For Sale
    $3,100,000
    20,273 SF

    Fairfield Redevelopment Opportunity on Route 58

    Versatile commercial property in a high-visibility location with redevelopment potential.

    360 Tunxis Hill Rd, Fairfield, CT 6825
    View Listing
    Property ID
    US15-0878160
    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

    • Photographic Research Org Inc / Corporate Office / Business Park
    • Scap Dodge / Car Dealership / Auto Repair Shop
    • Scap - Chrysler / Car Dealership / Auto Repair Shop
    • Chrysler at Scap / Car Dealership / Auto Repair Shop
    • Scap Jeep / Car Dealership / Auto Repair Shop

    Property Details for 360 Tunxis Hill Rd

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    0.85 lot acres
    Zone code
    DCD
    Property type
    Showrooms
    APN
    FAIR M:40 B:331
    APU
    FAIRM40B331

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 9, 2024 — 360 Tunxis Hill Rd LLC Scap Geza Est Executors Deed —

    Description

    This 20,273 square foot, three-story flex building in Fairfield, CT, presents a significant redevelopment opportunity. Situated on 0.85 acres in the Designed Commercial District (DCD) Zone, the property boasts 253 linear feet of frontage on Route 58, offering excellent visibility and accessibility. The building, constructed in 1984, includes a 10,028 square foot ground-level garage with 107 parking spaces, a 3,415 square foot first floor previously used as a car dealership, and a 6,830 square foot upper two floors previously occupied by a mixed-use tenant. The property features full HVAC, a wet sprinkler system, an elevator, and two curb cuts on Route 58, plus a side entrance to the upper-level garage on Berkeley Road. Its strategic location near I-95 (1.2 miles), the Fairfield Metro Train Station (1.6 miles), and a Greater Bridgeport Transit Bus Stop, combined with proximity to Fairfield University (less than two miles) and neighboring businesses like TJ Maxx, Stop & Shop, Aldi, and Floor & Decor, makes it an attractive investment. The asking price is $3,600,000, translating to $177.58 per square foot. The property is currently vacant and available for immediate occupancy. Zoning permits a variety of uses, including retail, mixed-use, or residential projects, subject to approval. This offering presents a rare chance to acquire prime real estate with substantial redevelopment potential in a high-traffic area.

    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
    Fairfield
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.2296
    Latitude
    41.177
    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
    $68,836
    $670,600
    $1,831,620
    $2,502,220
    -
    $0.00
    $0.00
    $0.00

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      Fairfield Redevelopment Opportunity on Route 58

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    View Listing
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    Fairfield, CT 06825
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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.

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    360 Tunxis Hill Rd, Fairfield, CT, 06825
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