Updated May 12, 2025
Fairfield Real Estate LLC Acquires Office Building In Fairfield For $3.6M From Glassman Family
383 Us Route 46
$3,600,000
$104/SF
Building Size
34,445 SF
Asset Type
Office
Closing
May 5, 2025
About this deal
AI
Fairfield Real Estate LLC has acquired an office asset located at 383 US Route 46 in Fairfield for $3,600,000. The property encompasses 34,445 square feet and is situated on a 1.6-acre lot within the Fairfield market. The purchase price translates to a price per square foot of $105. The building has been owner-occupied since 1985.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $3,600,000
- Address: 383 US Route 46
- Market: Fairfield
- Square Footage: 34,445
- Price per Square Foot: $105
- Buyer: Fairfield Real Estate LLC
- Seller: Glassman Family
- Broker: Peter Rasmusson - Lee & Associates – WBE
- Acres: 1.6
Peter Rasmusson of Lee & Associates – WBE acted as the broker in this transaction. The property includes tenants such as Medimetriks Pharmaceuticals and Fair Home Healthcare, and it will continue functioning as an owner-user asset following the purchase.
On the Map
$3,600,000
$104/SF
Office
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Players
Fairfield Office Market Snapshot
Boundary boundary · Office · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.41%
Cash-on-Cash
-1.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93