70 Pine StNew Canaan, CT 06840

Property Details for 70 Pine St

Year built

1951

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.79 AC

Property size (Sq ft)

10,298 SF

Zone code

BUSA

Property type

Office buildings

APN

NCAN M:000K B:139 L:00925

APU

NCANM000KB139L00925

Description

This exceptional investment opportunity comprises three contiguous properties totaling 33,198 square feet on 1.49 acres in desirable downtown New Canaan, Connecticut. Located within walking distance of the Metro-North Train Station, this property offers unparalleled regional accessibility and benefits from a strong amenity base and a highly skilled workforce. Currently vacant, the buildings are situated within the flexible Business A zoning district, allowing for a wide range of redevelopment possibilities. Permitted uses include, but are not limited to, general office space, residential units, restaurants with outdoor dining options, municipal buildings, medical offices, and various service establishments. The existing structures present a unique chance for an owner-occupant or a comprehensive redevelopment project. This prime location, combined with the flexible zoning and substantial square footage, makes this a compelling investment prospect for those seeking a high-impact project in a thriving Connecticut community. The property's three buildings are all one story and offer significant potential for a variety of uses. This is a rare opportunity to acquire a substantial land parcel in a highly sought-after location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,702,567

  6.5%

  $1,571,600

  7%

  $1,459,343

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,345,537

  Geo Method

  $1,345,537

• Alternative Use

  Use

  Valuation

  Residential

  $1,948,784

  Hospitality

  $1,785,076

  Educational

  $1,485,162

  Medical

  $1,536,239

  Retail

  $2,310,252

Location Insight

City

New Canaan

County

Fairfield

State

Connecticut

Latitude

41.144

Longitude

-73.4974

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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