90 Grove StRidgefield, CT 06877
- Land
- 3.01 AC
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
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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