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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    383 Greenwich Ave Greenwich, CT 06830-6569

    • Investment properties
    • 7,827 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    $585,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0953930
    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

    • St Moritz Pastry Shop / Bakery / Specialty Food Shop
    • S&NwaterDamage / Hardware & Home Improvement / Construction Company

    Property Details for 383 Greenwich Ave

    Year built
    1910
    Construction
    FRAME
    Lot size
    0.07 lot acres
    Property size
    7,827 SF
    Zone code
    CGBR
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    GREE M:01 B:1661/S
    APU
    GREEM01B1661S

    Description

    This exceptional redevelopment opportunity presents a unique chance to acquire a prominent 7,347 square foot storefront located at 383 Greenwich Avenue in Greenwich, Connecticut, 06830. Currently operating as the St. Moritz Bakery, a landmark establishment for over 80 years, the property offers significant potential for a modern, high-impact development. The existing structure requires demolition, aligning perfectly with the ongoing revitalization efforts along this section of Greenwich Avenue. The property is zoned CGBR and comprises two buildings across three stories, with a total of seven units. The asking price is $5,900,000, translating to $803.05 per square foot. Currently boasting 100% occupancy, this investment presents a compelling proposition. Furthermore, an adjacent property on Mason Street, also available for purchase, expands the potential development footprint to approximately 8,200 square feet. This adjacent lot offers the possibility of utilizing Mason Street for convenient upper-floor access and parking, adding significant value and functionality to the overall project. The current lot size is 2,975 square feet. This is a rare chance to create a landmark property in a thriving Greenwich location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $637,000
      Market price range: $477k - $1.09M

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenwich
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.6244
    Latitude
    41.0225
    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
    $33,882
    $1,666,350
    $1,245,440
    $2,911,790
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $545,000
      7,275 SF

      96 Greenwich Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,275 SF
      96 Greenwich Ave, Greenwich, CT 06830-5522
      View Details
    • Value Estimation by Request
      4,500 SF

      333 Greenwich Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,500 SF
      333 Greenwich Ave, Greenwich, CT 06830-2522
      View Details
    • Value Estimation
      $580,000
      12,381 SF

      199 Hamilton Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 12,381 SF
      199 Hamilton Ave, Greenwich, CT 06830-6167
      View Details
    • Value Estimation
      $1,215,000
      17,600 SF

      39 Lewis St

      OFFICE/RESIDENTIAL (MIXED USE) • 17,600 SF
      39 Lewis St, Greenwich, CT 06830-5553
      View Details
    • Value Estimation by Request
      7,448 SF

      10 Lewis St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,448 SF
      10 Lewis St, Greenwich, CT 06830-5552
      View Details
    • Value Estimation by Request
      4,802 SF

      55 Lewis St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,802 SF
      55 Lewis St, Greenwich, CT 06830-5528
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      80,784 SF

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      View Details
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      Greenwich Ave Retail Space Available

      Prime Greenwich retail space, 3,557 sq ft.
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      Updated studio near transportation, shopping, and parks in Greenwich.
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      View Details
    • $8,250 /Mo

      Downtown Greenwich Townhouse For Rent

      Three-bedroom townhouse with private patio and attached garage.
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      View Details
    • $9,317 /Mo
      5,230 SF

      Renovated Warehouse/Retail Space Available

      Unique space in historic Greenwich building with high visibility.
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      View Details
    • Contact for pricing
      37,602 SF

      Renovated Office Building Near Greenwich

      Boutique office building undergoing complete renovation, near Greenwich Avenue.
      145 Mason St, Greenwich, CT 06830
      View Details
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    383 Greenwich Ave
    Greenwich, CT 06830-6569
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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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