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Investment Highlights

  • Downtown Greenwich Avenue

Executive Summary

This prestigious Greenwich property is offered exclusively by Febbraio Commercial. The 8,250 s/f mixed use asset is located in one of Connecticut's most affluent corridors. The property is 100% leased with a diversified tenant mix of retail and residential uses and offers a stable in-place income with significant upside through lease turnovers and market rental adjustments. The landmark building has served the greater Greenwich community since 2008; its recent re-fresh and exterior modernization , clearly distinguish itself from neighboring properties, adding both curb appeal and tenant experience. The properties' upkeep is impeccable with minimal, to no cap-expenses for future owners.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
8,250 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
2008
Price
$10,750,000
Price Per SF
$1,303.03
Cap Rate
5.50%
NOI
$591,250
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Building FAR
2.71
Lot Size
0.07 AC
Zoning
CGBR - Downtown Commercial Business General
Parking
1 Spaces (0.12 Spaces per 1,000 SF Leased)

Amenities

  • Air Conditioning

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1st Floor
  • 2,750 SF
  • Retail
  • -
  • Jan 2027

Flipbook link here: https://www.calameo.com/read/007804025e47f144ca42c Originally constructed in 2008 and recently transformed through a comprehensive exterior modernization, the 8,250 SF landmark property offers exceptional frontage, dramatic vertical presence, and a sophisticated architectural identity that distinguishes it from neighboring buildings. Impeccably maintained and move- in ready, the space provides an ideal setting for a flagship boutique, luxury showroom, or experiential retail concept. - The first and second floor can be combined for one retail space of 5,500 SF (this is the current configuration of Betteridge Watches). The space has an interior elevator connecting the two spaces to make for an elevated private shopping experience. - First floor: high end lighting system built for the display of Rolex, Cartier, and comparable luxury timepieces - Private interior elevator connecting both floors to escort clients between levels for a true two floor shopping experience - Over $1,000,000 in improvements recently made to the space

  • 2nd Floor
  • 2,750 SF
  • Retail
  • -
  • Jan 2027

Space is currently used as a high end jewelry showcase area for Betteridge certified pre-owed luxury watches, diamonds, and other jewelry. The space has superb natural light, excellent lighting configuration with antique fixtures and track lighting throughout. The space has its own break room kitchenette and "back office" space. - Extremely bright and open to work space - Private bathroom and elevator access - Can be configured as a professional office or - combined with the first floor to add extra retail shopping area - Interior elevator access to be used as a private showroom experience between first and second floor.

Space Size Space Use Position Available
1st Floor 2,750 SF Retail - Jan 2027
2nd Floor 2,750 SF Retail - Jan 2027

1st Floor

Size
2,750 SF
Space Use
Retail
Position
-
Available
Jan 2027

2nd Floor

Size
2,750 SF
Space Use
Retail
Position
-
Available
Jan 2027

1st Floor

Size 2,750 SF
Space Use Retail
Position -
Available Jan 2027

Flipbook link here: https://www.calameo.com/read/007804025e47f144ca42c Originally constructed in 2008 and recently transformed through a comprehensive exterior modernization, the 8,250 SF landmark property offers exceptional frontage, dramatic vertical presence, and a sophisticated architectural identity that distinguishes it from neighboring buildings. Impeccably maintained and move- in ready, the space provides an ideal setting for a flagship boutique, luxury showroom, or experiential retail concept. - The first and second floor can be combined for one retail space of 5,500 SF (this is the current configuration of Betteridge Watches). The space has an interior elevator connecting the two spaces to make for an elevated private shopping experience. - First floor: high end lighting system built for the display of Rolex, Cartier, and comparable luxury timepieces - Private interior elevator connecting both floors to escort clients between levels for a true two floor shopping experience - Over $1,000,000 in improvements recently made to the space

2nd Floor

Size 2,750 SF
Space Use Retail
Position -
Available Jan 2027

Space is currently used as a high end jewelry showcase area for Betteridge certified pre-owed luxury watches, diamonds, and other jewelry. The space has superb natural light, excellent lighting configuration with antique fixtures and track lighting throughout. The space has its own break room kitchenette and "back office" space. - Extremely bright and open to work space - Private bathroom and elevator access - Can be configured as a professional office or - combined with the first floor to add extra retail shopping area - Interior elevator access to be used as a private showroom experience between first and second floor.

Moderately walkable
60/100
Very drivable
80/100
Good public transit
60/100
Somewhat bikeable
30/100

Nearby Major Retailers

New York Sports Club
Bank of America
Chase
Charles Schwab
Patriot National Bancorp, Inc.
Webster Bank
Citizens
TD Bank
Barcelona Wine Bar
Wells Fargo Bank

Property Taxes

Property Taxes

Parcel Number
GREE-000001-000000-001880-S000000
Land Assessment
$1,494,850
Improvements Assessment
$2,407,790
Total Assessment
$3,902,640
  • Listing ID: 39083976

  • Date on Market: 1/14/2026

  • Last Updated:

  • Address: 38-40 Greenwich Ave, Greenwich, CT 06830

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