Westport Place | 1698 Post Rd E
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Westport Place 1698 Post Rd E
9,971 SF 21% Leased Office Building Westport, CT 06880 $1,990,000 ($199.58/SF) 8.18% Cap Rate
INVESTMENT HIGHLIGHTS
- Perfect for Medical on the first floor and small individual office on second floor. Amazing luxury office loft on Third floor with elevator
EXECUTIVE SUMMARY
JUST REDUCED! All offers considered. This building is being tenanted with a Professional Office, Medical, small luxury office. Individual Offices for lease as well starting at $650 per month. Currently, 80% occupied.
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$234,000
|
$23.47
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$72,000
|
$7.22
|
| Effective Gross Income |
$162,000
|
$16.25
|
| Taxes |
$26,750
|
$2.68
|
| Operating Expenses |
$32,560
|
$3.27
|
| Total Expenses |
$59,310
|
$5.95
|
| Net Operating Income |
$102,690
|
$10.30
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $234,000 |
| Annual Per SF | $23.47 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $72,000 |
| Annual Per SF | $7.22 |
| Effective Gross Income | |
|---|---|
| Annual | $162,000 |
| Annual Per SF | $16.25 |
| Taxes | |
|---|---|
| Annual | $26,750 |
| Annual Per SF | $2.68 |
| Operating Expenses | |
|---|---|
| Annual | $32,560 |
| Annual Per SF | $3.27 |
| Total Expenses | |
|---|---|
| Annual | $59,310 |
| Annual Per SF | $5.95 |
| Net Operating Income | |
|---|---|
| Annual | $102,690 |
| Annual Per SF | $10.30 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Build to Suit
Property Type
Office
Property Subtype
Building Size
9,971 SF
Building Class
B
Year Built/Renovated
1979/2012
Price
$1,990,000
Price Per SF
$199.58
Cap Rate
8.18%
NOI
$162,800
Percent Leased
21%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
3,324 SF
Building FAR
0.39
Lot Size
0.58 AC
Zoning
GBD - General Business District is a broad use for office, medical and retail uses. The property has abundant parking and can comply with all use types.
Parking
40 Spaces (4.01 Spaces per 1,000 SF Leased)
AMENITIES
- Security System
- Signage
- Basement
- Air Conditioning
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PROPERTY TAXES
| Parcel Number | WPOR-000009I-000000-000001 | Total Assessment | $1,479,400 |
| Land Assessment | $502,700 | Annual Taxes | $26,750 ($2.68/SF) |
| Improvements Assessment | $976,700 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
WPOR-000009I-000000-000001
Land Assessment
$502,700
Improvements Assessment
$976,700
Total Assessment
$1,479,400
Annual Taxes
$26,750 ($2.68/SF)
Tax Year
2024
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Westport Place | 1698 Post Rd E
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