8 Van Tassell CtNorwalk, CT 06851
- Showrooms
- 5,132 SF
Property Details for 8 Van Tassell Ct
- Year built
- 1946
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.14 AC
- Property size (Sq ft)
- 5,132 SF
- Zone code
- B2
- Property type
- Showrooms
- APN
- NORW M:1 B:105 L:25
- APU
- NORWM1B105L25
Description
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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,247,255
- 6.5%
- $1,151,312
- 7%
- $1,069,076
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,689,779
- Geo Method
- $1,689,779
-
Alternative Use
- Use
- Valuation
- Residential
- $971,175
- Hospitality
- $889,591
- Educational
- $740,129
- Medical
- $765,584
- Retail
- $1,151,312
Location Insight
- City
- Norwalk
- County
- Fairfield
- State
- Connecticut
- Latitude
- 41.1291
- Longitude
- -73.4236
- CBSA code
- 14860
- CBSA name
- BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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