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

    38th Grv St Ridgefield, CT 06877-4676

    • Office buildings
    • 21,471 SF
    • 1.12 lot acres
    OFF-MARKET
    Last Sale
    Jun 04, 2025
    $1,575,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0130888
    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

    • Office buildings

    Property Details for 38th Grv St

    Year built
    1978
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    1.12 lot acres
    Property size
    21,471 SF
    Zone code
    B-2
    Property type
    Office buildings
    APN
    RIDG M:E14 B:0199
    APU
    RIDGME14B0199

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Ridgefield
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.493
    Latitude
    41.2871
    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
    $49,137
    $296,800
    $1,606,990
    $1,903,790
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $430,000
      5,293 SF

      35 Danbury Rd

      OFFICE BUILDING • 5,293 SF
      35 Danbury Rd, Ridgefield, CT 06877-4046
      View Details
    • Value Estimation
      $355,000
      2,615 SF

      27 Catoonah St

      OFFICE BUILDING • 2,615 SF
      27 Catoonah St, Ridgefield, CT 06877-4400
      View Details
    • Value Estimation
      $435,000
      13,864 SF

      35 Copps Hl Rd

      OFFICE BUILDING • 13,864 SF
      35 Copps Hl Rd, Ridgefield, CT 06877-4041
      View Details
    • Value Estimation
      $375,000
      3,468 SF

      139 Ethan Allen Hwy

      OFFICE BUILDING • 3,468 SF
      139 Ethan Allen Hwy, Ridgefield, CT 06877-6207
      View Details
    • Value Estimation
      $305,000
      164 SF

      30 Bailey Ave

      OFFICE BUILDING • 164 SF
      30 Bailey Ave, Ridgefield, CT 06877-4512
      View Details
    • Value Estimation
      $340,000
      1,306 SF

      40 Grv St

      OFFICE BUILDING • 1,306 SF
      40 Grv St, Ridgefield, CT 06877-4106
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      18,000 SF

      Ridgefield Office Building For Sale

      18,000 SF Office, Vacant, Prime Location
      650 Danbury Rd, Ridgefield, CT 06877
      View Details
    • $1,200,000
      11,253 SF

      Ridgefield Office Building For Sale

      Medical & Traditional Office Space, Great Investment
      871 Ethan Allen Hwy, Ridgefield, CT 06877
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    • $475,000
      2,605 SF

      Class A Office Condominium

      Two contiguous office condominiums in the heart of the business district.
      90 Grove St, Ridgefield, CT 06877
      View Details
    • $4,300,000

      Ridgefield Specialty Property For Sale

      Specialty property available for purchase in Ridgefield, Connecticut.
      88 Main St, Ridgefield, CT 06877
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    • $399,000

      Ridgefield Specialty Property For Sale

      Specialty property available for purchase in Ridgefield, Connecticut.
      213 Mamanasco Rd, Ridgefield, CT 06877
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    • $1,565,000

      Ridgefield Specialty Property For Sale

      Specialty property available for purchase in Ridgefield, Connecticut.
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      View Details

    Similar Nearby for Lease

    • $850 /Mo
      200 SF

      Ideal office setting For Lease - $650 to $850/MO

      Ideal office setting For Lease - $650 to $850/MO
      641 Danbury Road, Ridgefield, CT 06877
      View Details
    • $19 SF/Yr
      21,000 SF

      Ridgefield Commercial Space For Lease

      Medical/Office building with upgrades, natural light, and a clean location.
      38 A Grv St, Ridgefield, CT 06877
      View Details
    • $16 SF/Yr
      11,000 SF

      Ridgefield Office Space for Lease

      Executive & Traditional Office Suites Available
      871 Ethan Allen Hwy, Ridgefield, CT 06877
      View Details
    • $19 SF/Yr
      2,850 SF

      Spacious Office on Route 7

      Bright 2,850 sq ft office space with ample parking.
      679 Danbury Rd, Ridgefield, CT 06877
      View Details
    • $600 /Mo

      Move-in Ready Private Office Suites

      All-inclusive private office suites near downtown Ridgefield, Connecticut.
      898 Ethan Allen Hwy Hwy, Ridgefield, CT 06877
      View Details
    • New
      $6,000 /Mo
      2,315 SF

      Renovated Victorian Retail/Office Multi-Unit

      Renovated Victorian retail/office space near Ridgefield's Main Street.
      27 Catoonah St, Ridgefield, CT 06877
      View Details
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    38th Grv St
    Ridgefield, CT 06877-4676
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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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