90 Grove StRidgefield, CT 06877

  • Land
  • 3.01 AC
For Sale
$3,795,000 View listing

Property Details for 90 Grove St

Lot size
3.01 AC
Zone code
B-3
Property type
Land
Property subtype
Commercial land
APN
RIDG M:E14 B:1011
APU
RIDGME14B1011

Description

This exceptional investment opportunity presents a stabilized portfolio of thirteen Class A office condos located at 90 Grove Street, Ridgefield, Connecticut, 06877. The property encompasses 23,735 square feet across a three-story building on a three-acre lot, built in 1986 and boasting a 95% occupancy rate. The portfolio features a diverse tenancy of thirteen units, including notable tenants such as Morgan Stanley, Ridgefield Ophthalmology, Rowantree Law Group, and Quest Diagnostics. The asking price is $3,795,000, representing a price per square foot of $159.89 and a price per unit of $291,923.08. The property generates a substantial net operating income (NOI) of $268,473, yielding a 7.07% cap rate. The building is zoned B-3 and includes 300 parking spaces. Amenities include a welcoming lobby with a digital directory, a fitness center, and a shared conference room. Its prime location offers convenient access to I-84, Route 7, and I-684, providing excellent regional accessibility. The gross lease structure minimizes management responsibilities, making this a low-maintenance, high-return investment. This portfolio offers a stable income stream from high-quality tenants, making it an attractive addition to any real estate portfolio. The building is the only one in town with a shared conference room and fitness center. The lobby features floor-to-ceiling marble, a guest seating area, and shared common restrooms.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $24,812,276
    Hospitality
    $22,727,910
    Educational
    $18,909,356
    Medical
    $19,559,676
    Retail
    $29,414,552
90 Grove St, Ridgefield, Connecticut

Location Insight

City
Ridgefield
County
Fairfield
State
Connecticut
Latitude
41.2894
Longitude
-73.4958
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
$2
$70
-
$70
-
-
-
-

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].