16 Commerce StNorwalk, CT 06850

Property Details for 16 Commerce St

Year built

1942

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.11 AC

Property size (Sq ft)

8,280 SF

Zone code

CBDA

Property type

Other commercial real estate

Property subtype

Showrooms

APN

NORW M:1 B:29 L:45

APU

NORWM1B29L45

Description

This exceptional industrial property at 16 Commerce Street, Norwalk, offers 8,280 square feet of versatile space, ideal for a variety of businesses. Currently, 3,940 square feet are immediately available, divisible down to 1,180 square feet, providing flexibility for various operational needs. The building, constructed in 1942 and classified as Class C, features two stories with a generous 15-foot ceiling height. Access is convenient with two drive-in doors and two dock-high doors, ensuring efficient loading and unloading. The property's location within Norwalk's Central Business District (CBDB), zoned as such, offers unparalleled convenience. Its proximity to Wall Street provides easy access to local amenities, including shops, restaurants, and banks. Furthermore, the strategic location near I-95, exit 16, ensures excellent regional connectivity. The building comprises a single structure with two suites, offering a unique opportunity for either a single tenant or multiple occupants. While there are no dedicated parking spaces on-site, the central location provides easy access to public transportation and nearby parking options. This property presents a rare opportunity to secure flexible industrial space in a prime Norwalk location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,012,329

  6.5%

  $1,857,534

  7%

  $1,724,854

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,726,299

  Geo Method

  $2,726,299

• Alternative Use

  Use

  Valuation

  Residential

  $1,566,900

  Hospitality

  $1,435,272

  Educational

  $1,194,129

  Medical

  $1,235,197

  Retail

  $1,857,534

Location Insight

City

Norwalk

County

Fairfield

State

Connecticut

Latitude

41.1175

Longitude

-73.4124

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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