1705 Fairfield AveBridgeport, CT 06605

Property Details for 1705 Fairfield Ave

Year built

2022

Lot size

1.29 AC

Property size (Sq ft)

9,499 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents two newly constructed (2022 & 2023), freestanding retail buildings totaling 9,499 square feet on a 1.29-acre lot in Bridgeport, Connecticut. The property boasts 100% occupancy with investment-grade tenants, Starbucks and O'Reilly Auto Parts, both operating under long-term, net leases. O'Reilly Auto Parts' lease has 13+ years remaining with four 5-year options, while Starbucks' lease has 9+ years remaining with three 5-year options. Both leases include attractive, fixed rent increases, providing a hedge against inflation. The property benefits from a 5.35% cap rate and a strong NOI of $283,610. Situated on a high-traffic corner lot along Fairfield Avenue and State Street, the property enjoys excellent visibility and proximity to major roadways (I-95, CT Route 8, US Route 1), public transportation, and significant educational institutions (University of Bridgeport, Housatonic Community College). The surrounding area features a dense population with high average household incomes, numerous retailers, and the developing Steelpointe Harbor mixed-use project. This fee-simple ownership offers a compelling combination of strong tenants, favorable lease terms, and a prime location, making it an ideal investment for passive investors seeking stable, long-term returns. The property's strategic location within a thriving commercial corridor, coupled with the strength of its tenants and the built-in rent increases, ensures a secure and profitable investment. Daily traffic counts exceed 16,100 vehicles along Fairfield Avenue & State Street, with an additional 130,400 vehicles passing nearby on Interstate 95. The property's proximity to a large population base (148,100 within 3 miles, 251,000 within 5 miles) and a significant workforce (105,700 within 5 miles) further enhances its investment potential. The property's location is also convenient to the Bridgeport and Fairfield Metro North Train Stations, the Bridgeport Ferry, the Total Mortgage Arena, the Hartford Healthcare Amphitheater, Seaside Park and Steelpointe Harbor.

Location Insight

City

Bridgeport

County

Fairfield

State

Connecticut

Latitude

41.1696

Longitude

-73.2134

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