Listed by Baldwin Pearson & Company
$1,500,000
2032- 2038 Main Street Bridgeport, CT
Details
Property Type Retail, Multifamily
Sub Type Apartment Building, Storefront
Square Footage 9,373
Cap Rate 4.09%
NOI $61,393
Occupancy 81%
Tenancy Multi
Lease Type Modified
Pro-Forma Cap Rate 10.63%
Pro-Forma NOI $159,405
Price per SqFt $160
Buildings 2
Parking Spaces 7 spaces
Parking Per SqFt 0.75
Investment Type Value Add
Ground Lease No
Adjacent Value Add Brick Mixed use Package
Marketing description
Baldwin Pearson & Co., Inc. is pleased to present 2032–2038 Main Street, Bridgeport, CT — a rare and compelling investment opportunity in one of Connecticut's most dynamic real estate markets. The offering consists of two adjacent brick mixed-use buildings situated on a high-visibility, heavily trafficked block along Bridgeport's Main Street corridor. Together, the properties comprise seven residential units and four occupied ground-floor retail spaces, delivering an exceptional blend of value-add residential upside and stable, in-place commercial income from day one. Completing the offering is a rear parking lot — an exceptionally rare amenity in this section of Bridgeport.
Investment highlights
- Significant Value-Add Upside: All seven residential units are currently occupied on month-to-month leases at rents meaningfully below prevailing market rates, presenting an immediate opportunity to substantially increase cash flow through light renovation and strategic lease-up. Two of the apartments are currently vacant allowing for immediate upside potential. One of the vacant apartments is a 1,500 square foot three bed room unit with tremendous value
- Stable, Proven Retail Income: All four ground-floor commercial spaces are occupied by long-standing tenants, providing a reliable retail income stream with meaningful path forward for future rent growth
- Versatile Residential Configuration: The residential component features a diverse mix of efficiency, one-, two-, and three-bedroom units, appealing to a broad spectrum of tenant profiles and maximizing long-term occupancy potential
- Prime Location: Situated along Main Street just off North Avenue, the property enjoys convenient access to Bridgeport's full complement of dining, retail, transit, and cultural amenities
- Separately Metered Utilities & Private Parking: The property is individually metered for both electricity and heat, with all utility costs passed directly to tenants. The property also features a private rear parking lot for tenants
Listing Contacts
Listed by Baldwin Pearson & Company
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$61,393.00
$5,116.08/mo
Valuation Metrics
0
DSCR
4.09%
Cap Rate
4.09%
ROI
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