6 Benedict PlGreenwich, CT 06830

Property Details for 6 Benedict Pl

Year built

1930

Construction

STEEL FRAME

Lot size

0.20 AC

Property size (Sq ft)

2,495 SF

Zone code

CGB

Property type

Office properties

Property subtype

Office buildings

APN

GREE M:01 B:1844/S

APU

GREEM01B1844S

Description

This exceptional Class A office building, located at 6 Benedict Place in the heart of downtown Greenwich, Connecticut, presents a unique investment opportunity. The 3,400 square foot building, constructed in 1930, sits on a 0.2-acre lot and offers ample parking for ten vehicles. Currently vacant, this property is perfectly suited for an owner-user seeking a prestigious location. Its central Greenwich position provides immediate access to Greenwich Avenue, renowned for its upscale retail, dining, and service businesses. The building boasts two stories and benefits from CBG zoning, allowing for a variety of commercial uses, including small offices, residential, and public uses. The asking price is $4,250,000, translating to $1,250 per square foot. This represents a compelling investment, particularly considering that Class A office average asking rents in Downtown Greenwich reached over $100 per square foot in Q4 2022, a historic high. The property's prime location and flexible zoning make it an ideal choice for a discerning buyer seeking a high-value asset in a thriving market. The building is delivered vacant, allowing for immediate customization to suit the new owner's specific needs. This is a rare opportunity to acquire a well-situated, established property in one of Connecticut's most desirable locations.

• CAP approach

  CAP return

  Valuation

  6%

  $412,498

  6.5%

  $380,767

  7%

  $353,570

• Comparable approach

  Method

  Valuation

  Relative Method

  $325,997

  Geo Method

  $325,997

• Alternative Use

  Use

  Valuation

  Residential

  $472,152

  Hospitality

  $432,488

  Educational

  $359,825

  Medical

  $372,200

  Retail

  $559,728

Location Insight

City

Greenwich

County

Fairfield

State

Connecticut

Latitude

41.0272

Longitude

-73.6281

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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