For Sale
$1,950,000

8 Van Tassell CtNorwalk, CT 06851

Three buildings, high NOI, strong cash flow.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents three adjacent flex/industrial buildings totaling 11,052 rentable square feet situated on a 0.55-acre lot in Norwalk, Connecticut. The property, located at 5, 8, and 10 Van Tassell Court, enjoys a prime location off Main Street, with convenient access to I-95 and Route 15. Currently 100% occupied by three tenants, generating a substantial net operating income (NOI) of $186,218 and a 9.55% cap rate, this portfolio offers immediate cash flow. The buildings consist of one single-story structure at 5 Van Tassell Court (approximately 4,000 square feet) and a combined structure at 8 and 10 Van Tassell Court (approximately 7,052 square feet). The property is zoned B2 and features three dock-high doors. The current leases include a five-year option, providing long-term stability. This offering presents a compelling investment opportunity, suitable for both income generation and potential redevelopment, given its "covered land" status and completed environmental testing. The property's strategic location and strong tenant occupancy make it an attractive asset in the thriving Norwalk market. The asking price is $1,950,000.

Highlights

  • $186,218 Net Operating Income (NOI)
  • 8.11% Cap Rate
  • Fully leased with existing income stream
  • Redevelopment opportunity on a covered land site
  • Environmental due diligence complete
  • Excellent access to major roadways.

Property Details for 8 Van Tassell Ct

Property type
Industrial properties, Flex space
Square Feet
1,768 SF
Buildings
3
Stories
1
Lot Size (sq. ft)
23,958 SF

Location Insight

City
Norwalk
County
Fairfield
State
Connecticut
Latitude
41.1291512
Longitude
-73.4236582
8 Van Tassell Ct, Norwalk, Connecticut

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8 Van Tassell Ct
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