1241 E Main St | Stamford, CT 06902
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1241 E Main St
Stamford, CT 06902
Titan Towers · Office Property For Sale
Executive Summary
OFFICE BUILDING TO BE DELIVERED VACANT WITH MULTIPLE AVENUES TO UPSIDE
• 90,675-square-foot office building that was formerly the world headquarters of WWE, presenting potential for re-leasing or redevelopment
• Set on 1.19 acres, the existing improvements include high-quality office space with 11’ finished ceiling heights, a rooftop patio with unobstructed views of Long Island Sound, a fitness center, a cafeteria and 300 parking spaces
• The property is zoned CN which is one of the most flexible zones in Stamford. Permitted uses include residential multifamily, research and development, educational uses, health clubs, etc.
PRIME LOCATION ON THE STAMFORD / DARIEN LINE
• Immediately accessible to Interstate 95 and Route 1, just one mile from two Metro-North railroad stations and one hour from New York City
• Directly west of Darien, an affluent community that is consistently ranked among the wealthiest towns in the United States; surrounded by three-, five- and 10-mile population counts of 129,000 people, 192,800 people and 401,600 people, respectively, with corresponding average household incomes of $156,200, $186,200 and $193,600
• Two miles east of Downtown Stamford, which has experienced 80%+ residential population growth in the past decade, driven by the delivery of more than 6,000 new apartment units, 200,000 square feet of new retail space and one million square feet of new office space
• The Stamford / Darien line is active with mixed-use developments including Heights Crossing, which comprises 65 apartment units with complementary retail and commercial space adjacent to the Noroton Heights Metro-North station, and The Corbin District, which encompasses 11 new apartment, retail and office buildings in the heart of Downtown Darien
MARKET SNAPSHOT: OFFICE & MULTI-FAMILY
• Office: There is a lack of high-quality availabilities in the immediate East Main Street micromarket and competitive local office supply is rapidly shrinking due to residential redevelopment
• Multi-Family: The Stamford apartment market reports an average rental rate of $2,891 per month with a vacancy rate of 5.8%, and the surrounding area is currently the subject of extensive office-to-residential conversions
• 90,675-square-foot office building that was formerly the world headquarters of WWE, presenting potential for re-leasing or redevelopment
• Set on 1.19 acres, the existing improvements include high-quality office space with 11’ finished ceiling heights, a rooftop patio with unobstructed views of Long Island Sound, a fitness center, a cafeteria and 300 parking spaces
• The property is zoned CN which is one of the most flexible zones in Stamford. Permitted uses include residential multifamily, research and development, educational uses, health clubs, etc.
PRIME LOCATION ON THE STAMFORD / DARIEN LINE
• Immediately accessible to Interstate 95 and Route 1, just one mile from two Metro-North railroad stations and one hour from New York City
• Directly west of Darien, an affluent community that is consistently ranked among the wealthiest towns in the United States; surrounded by three-, five- and 10-mile population counts of 129,000 people, 192,800 people and 401,600 people, respectively, with corresponding average household incomes of $156,200, $186,200 and $193,600
• Two miles east of Downtown Stamford, which has experienced 80%+ residential population growth in the past decade, driven by the delivery of more than 6,000 new apartment units, 200,000 square feet of new retail space and one million square feet of new office space
• The Stamford / Darien line is active with mixed-use developments including Heights Crossing, which comprises 65 apartment units with complementary retail and commercial space adjacent to the Noroton Heights Metro-North station, and The Corbin District, which encompasses 11 new apartment, retail and office buildings in the heart of Downtown Darien
MARKET SNAPSHOT: OFFICE & MULTI-FAMILY
• Office: There is a lack of high-quality availabilities in the immediate East Main Street micromarket and competitive local office supply is rapidly shrinking due to residential redevelopment
• Multi-Family: The Stamford apartment market reports an average rental rate of $2,891 per month with a vacancy rate of 5.8%, and the surrounding area is currently the subject of extensive office-to-residential conversions
PROPERTY FACTS
Sale Type
Investment
Sale Condition
High Vacancy Property
Property Type
Office
Building Size
90,675 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
1981
Tenancy
Single
Building Height
6 Stories
Typical Floor Size
15,113 SF
Slab To Slab
11’
Building FAR
1.75
Lot Size
1.19 AC
Zoning
CN - Neighborhood Business
Parking
300 Spaces (3.31 Spaces per 1,000 SF Leased)
Amenities
- Conferencing Facility
- Central Heating
- Air Conditioning
PROPERTY TAXES
| Parcel Number | STAM-000000-000000-006856 | Improvements Assessment | $10,576,090 |
| Land Assessment | $2,078,230 | Total Assessment | $12,654,320 |
PROPERTY TAXES
Parcel Number
STAM-000000-000000-006856
Land Assessment
$2,078,230
Improvements Assessment
$10,576,090
Total Assessment
$12,654,320
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