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1380 E Putnam Ave 4,834 SF 100% Leased Retail Building Old Greenwich, CT 06870 $2,950,000 ($610.26/SF)
Investment Highlights
- Value-Add Opportunity
- High Degree of Visibility & Convenient Access
- Development Potential
Executive Summary
We are pleased to present for sale or lease 1380 East Putnam Avenue in Old Greenwich, Connecticut for $2,950,000 or $55 PSF NNN.
1380 East Putnam Avenue is a 4,834± SF single-story retail building located within the well-established Route 1 Retail Corridor, 0.25± miles from Exit 5 of Interstate 95, 0.4± miles from the border of the City of Stamford, and 1 mile from the Old Greenwich Metro-North Train Station. The property is currently vacant, providing the opportunity for it to be delivered unencumbered for an owner-occupant or the ability to increase value through lease-up.
The building sits on a 0.28-acre corner site that has 120’± of frontage on East Putnam Avenue (14,900± VPD), 140’± frontage on Ferris Drive, and provides a parking ratio of 4.34/1,000 SF. The property benefits from its strategic location within a supply constrained, regional drawing local and national retail corridor that has consistent tenant demand and notable immediate neighbors including the Hyatt Regency Hotel, Walgreens, Edge Fitness Club, Staples, Starbucks, Chipotle, McDonald’s, CVS, ACME Markets, Verizon, Taco Bell and Boston Market, in addition to numerous corporate businesses.
1380 East Putnam Avenue is a 4,834± SF single-story retail building located within the well-established Route 1 Retail Corridor, 0.25± miles from Exit 5 of Interstate 95, 0.4± miles from the border of the City of Stamford, and 1 mile from the Old Greenwich Metro-North Train Station. The property is currently vacant, providing the opportunity for it to be delivered unencumbered for an owner-occupant or the ability to increase value through lease-up.
The building sits on a 0.28-acre corner site that has 120’± of frontage on East Putnam Avenue (14,900± VPD), 140’± frontage on Ferris Drive, and provides a parking ratio of 4.34/1,000 SF. The property benefits from its strategic location within a supply constrained, regional drawing local and national retail corridor that has consistent tenant demand and notable immediate neighbors including the Hyatt Regency Hotel, Walgreens, Edge Fitness Club, Staples, Starbucks, Chipotle, McDonald’s, CVS, ACME Markets, Verizon, Taco Bell and Boston Market, in addition to numerous corporate businesses.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,834 SF
Building Class
C
Year Built/Renovated
1955/2023
Price
$2,950,000
Price Per SF
$610.26
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.40
Lot Size
0.28 AC
Zoning
LB - Local Business
Parking
21 Spaces (4.34 Spaces per 1,000 SF Leased)
Frontage
123’ on U.S. 1
Amenities
- Fenced Lot
- Signage
- Tenant Controlled HVAC
- Air Conditioning
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | GREE-000006-000000-003961-S000000 | Improvements Assessment | $525,700 |
| Land Assessment | $767,060 | Total Assessment | $1,292,760 |
Property Taxes
Parcel Number
GREE-000006-000000-003961-S000000
Land Assessment
$767,060
Improvements Assessment
$525,700
Total Assessment
$1,292,760
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1380 E Putnam Ave
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