132 Prospect StStamford, CT 06901

Property Details for 132 Prospect St

Year built

1928

Construction

STEEL FRAME

Lot size

0.62 AC

Property size (Sq ft)

23,816 SF

Zone code

RMF

Property type

Showrooms

APN

STAM M:002 B:6856

APU

STAMM002B6856

Description

This exceptional redevelopment opportunity presents a vacant, 30,774-square-foot building situated on a 0.62-acre lot in the heart of Stamford, Connecticut. Built in 1928, the property is currently zoned RMF (Multi-Family Residence Design District), allowing for a seamless conversion into a multifamily residential development. Its convenient location offers pedestrian access to Stamford's vibrant downtown, boasting an abundance of restaurants, bars, shops, and cafes. The property's Walk Score of 94 underscores its desirability. This as-is sale presents a unique chance to capitalize on the strong residential market in this sought-after area. The building's existing structure provides a solid foundation for a transformative project, offering significant potential for a high-return investment. The property is offered without a formal asking price, allowing for flexible negotiation. This is an exceptional opportunity for developers seeking a prime location and a substantial footprint for a multifamily project in a thriving Connecticut city. The property's history adds character and charm, while its zoning and location ensure a promising future. This is a truly unique opportunity to create a landmark residential development in downtown Stamford.

• CAP approach

  CAP return

  Valuation

  6%

  $5,788,120

  6.5%

  $5,342,880

  7%

  $4,961,245

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,841,732

  Geo Method

  $7,841,732

• Alternative Use

  Use

  Valuation

  Residential

  $4,506,918

  Hospitality

  $4,128,313

  Educational

  $3,434,708

  Medical

  $3,552,833

  Retail

  $5,342,880

Location Insight

City

Stamford

County

Fairfield

State

Connecticut

Latitude

41.06

Longitude

-73.5347

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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