454 Main AveNorwalk, CT 06851

Property Details for 454 Main Ave

Year built

1974

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.65 AC

Property size (Sq ft)

10,162 SF

Zone code

B2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

NORW M:5 B:22C L:1

APU

NORWM5B22CL1

Description

This exceptional commercial property at 454 Main Ave, Norwalk, CT, offers 10,162 square feet of retail and special purpose space, currently configured as a single-tenant office. Situated on a 6.5-acre lot, the building boasts a prominent location across from the Merritt Seven office park, ensuring high visibility and significant traffic. Built in 1974, this two-story structure is zoned B2 and features 790 square feet of currently vacant space. The property's address is 454 Main Ave, Norwalk, CT 06851, conveniently located near Valley View Rd in Fairfield County. The asking rent is $35.00 per square foot, inclusive of property taxes. Utilities are not included and are considered triple net expenses. The building's single-tenant occupancy presents a unique opportunity for a variety of businesses seeking a high-traffic location in a thriving area. The substantial land area offers potential for future expansion or redevelopment. This property is ideal for a business seeking strong visibility and convenient access to a significant workforce. The existing tenant's use as a nutrition store demonstrates the suitability of the space for health-conscious businesses or other retail ventures. The property's size and location make it a compelling investment opportunity in a desirable Connecticut market.

• CAP approach

  CAP return

  Valuation

  6%

  $1,680,082

  6.5%

  $1,550,845

  7%

  $1,440,070

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,327,767

  Geo Method

  $1,327,767

• Alternative Use

  Use

  Valuation

  Residential

  $1,923,048

  Hospitality

  $1,761,502

  Educational

  $1,465,549

  Medical

  $1,515,951

  Retail

  $2,279,742

Location Insight

City

Norwalk

County

Fairfield

State

Connecticut

Latitude

41.15

Longitude

-73.4251

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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