Land For Sale • 1.24 AC
86 Whittier Street is a historic 1912 former school building on a large 1.24-acre corner lot, now positioned as a major residential redevelopment opportunity in Black Rock. EAC Properties LLC is proud to exclusively present 86 Whittier Street for purchase. This offering presents a rare opportunity to acquire a former school building situated on 1.24 acres in the highly sought after Black Rock neighborhood of Bridgeport, CT. The property is slated for conversion into a 32-unit multifamily apartment community, with all necessary approvals to be delivered prior to closing. Its strategic location is within proximity to Metro North’s Black Rock/Fairfield Metro train station, providing excellent commuter access and supporting strong long-term rental demand. Black Rock offers a rare combination of lifestyle appeal, strong rental fundamentals, and long term growth potential. For multifamily investors and developers, it represents one of the most promising pockets of opportunity in Fairfield County—where demand is rising, supply is constrained, and the neighborhood’s unique charm continues to attract residents year after year.
| Asking Price $1,500,000 for 1.24 acres (Equivalent to $46,875 per convertible unit) |
| Land value of approx. $1,209,700 per acre |
| Projected Cost per unit: $168,5000 (including land) |
| Projected total Development Cost $5,391,000 (including land) |
| Developer's Projected Return on Cost (stabilized): 8.75% |
| Attractive yield for a transit oriented, Class A redevelopment in a supply constrained submarket |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Fairfield-Black Rock (New Haven - Metro-North Railroad) | 3 min | - | 1.3 mi |
| Bridgeport Station (New Haven Line - Shore Line East, Shore Line East - Shore Line East) | 4 min | - | 2.1 mi |
| Airport | Drive | Walk | Distance |
| Tweed/New Haven | 38 min | - | 24.6 mi |
| Westchester County | 51 min | - | 33.2 mi |
| Long Island MacArthur | 111 min | - | 36.1 mi |