Retail Building at 525 Tunxis Hill Road Sells for $888,888 in Fairfield, CT

Key Takeaways

• Sale price $888,888 for 2,619 sf retail building.
• Price per square foot $339.43, reflecting Fairfield demand.
• Property fully leased to In Higher Spirits, single tenant.
• Buyers plan renovation and second‑floor apartments.
• Multi‑channel marketing generated competing offers quickly.

Summary

Choyce Peterson brokered the sale of a fully leased 2,619‑square‑foot retail building at 525 Tunxis Hill Road in Fairfield, Connecticut for $888,888. The property, anchored by In Higher Spirits, sold to local investors Scott and Eva Howes, who intend to renovate and add a second floor with upscale apartments. A multi‑channel marketing campaign generated multiple offers, highlighting strong demand for small‑format, leased retail assets in the region. The transaction underscores the appeal of well‑located, single‑tenant retail in Fairfield’s competitive market.

Pulse Analysis

Fairfield’s retail corridor around Tunxis Hill Road remains a magnet for both shoppers and investors, thanks to its concentration of grocery anchors, high traffic counts, and limited vacancy. The corner lot at 525 Tunxis Hill Road benefits from a signalized intersection and visible frontage, factors that traditionally command premium rents. As regional demographics skew toward higher disposable income, retailers and mixed‑use developers are increasingly targeting such sites to capture foot traffic while diversifying income streams.

The $888,888 transaction translates to roughly $339 per square foot, a figure that aligns with recent comparable sales of single‑tenant retail in the area. Compared with neighboring properties that have sold for $300‑$360 per square foot, the price reflects both the building’s existing lease to a stable tenant and the buyer’s confidence in executing a value‑add plan. Choyce Peterson’s targeted outreach—leveraging listing services, social media, and on‑site signage—produced a competitive bidding environment, illustrating how disciplined marketing can elevate asset valuation in a saturated market.

Looking ahead, the buyers’ intent to add a second floor with high‑end apartments taps into a broader trend of integrating residential units above ground‑floor retail. This hybrid approach can boost overall return on investment by generating dual income streams and enhancing property resilience against retail market fluctuations. For investors, the deal serves as a blueprint: secure a reliable tenant, employ a multi‑channel sales strategy, and incorporate adaptive reuse to unlock additional upside in mature suburban markets.