150 Connecticut AveNorwalk, CT 06854

Property Details for 150 Connecticut Ave

Year built

1996

Construction

STEEL FRAME

Lot size

0.45 AC

Property size (Sq ft)

6,117 SF

Zone code

B2

Property type

Retail properties

Property subtype

Retail space

APN

NORW M:5 B:64 L:46

APU

NORWM5B64L46

Description

This exceptional retail property, the Utopia Building, located at 150 Connecticut Avenue, Norwalk, CT 06854, offers a single-tenant space of 3,147 square feet within a larger 6,117 square foot building. The property boasts a highly desirable location on a main commercial artery in Norwalk, providing excellent visibility and high traffic volume. Its proximity to I-95 ensures convenient access for commuters and customers. The surrounding area is a thriving commercial hub with a diverse mix of businesses, creating a strong network of potential customers and business opportunities. Norwalk's robust economy, strong community, and business-friendly local government further enhance the property's appeal. The building itself does not have elevators. This location offers significant potential for long-term appreciation, making it an attractive investment opportunity. The property also features electronic digital signage, providing a valuable advertising tool for tenants. The flexible space can be adapted to suit various business needs. This prime location offers easy access to public transportation, shopping centers, and restaurants, adding to its overall desirability. Consider this property for its potential in Norwalk's competitive market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,486,644

  6.5%

  $1,372,287

  7%

  $1,274,267

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,014,103

  Geo Method

  $2,014,103

• Alternative Use

  Use

  Valuation

  Residential

  $1,157,576

  Hospitality

  $1,060,333

  Educational

  $882,185

  Medical

  $912,524

  Retail

  $1,372,287

Location Insight

City

Norwalk

County

Fairfield

State

Connecticut

Latitude

41.1051

Longitude

-73.4302

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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