9 Van Zant StNorwalk, CT 06855

Property Details for 9 Van Zant St

Year built

1973

Lot size

0.28 AC

Property size (Sq ft)

5,316 SF

Zone code

I1

Property type

Retail properties

Property subtype

Auto shops

APN

NORW M:3 B:35 L:5

APU

NORWM3B35L5

Description

This exceptional commercial real estate portfolio in East Norwalk, Connecticut, presents a compelling investment opportunity. Priced at $2,400,000, this 0.72-acre assemblage comprises three properties currently occupied by an established auto body shop. Two adjacent parcels at 7 & 9 Van Zant Street, totaling 0.56 acres, are zoned Special District - Light Industrial (SD-L1). A third property across the street at 10 Van Zant Street adds another 0.16 acres, situated in a Community District - General Urban (CD-3) zone. Each property is available for individual sale, offering flexible investment options. The portfolio benefits from a strategic location, less than a mile from I-95 (Exit 16) and near Route 7, providing convenient access to the Merritt Parkway (Route 15). Public transportation is readily available, with the East Norwalk Metro-North Train Station a half-mile away and nearby bus stops. The area boasts a vibrant mix of residential, commercial, and industrial buildings, reflecting a diverse and thriving business environment. Nearby attractions include the 35-acre Veterans Memorial Park and Marina, offering recreational amenities. Recent significant redevelopment in the area, such as the $20 million renovation of 25 Van Zant Street into a modern multi-industrial hub, underscores the growth potential of this location. This portfolio offers substantial redevelopment potential or an ideal owner-user opportunity in a highly desirable and well-connected location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,291,974

  6.5%

  $1,192,591

  7%

  $1,107,406

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,750,363

  Geo Method

  $1,750,363

• Alternative Use

  Use

  Valuation

  Residential

  $1,005,995

  Hospitality

  $921,486

  Educational

  $766,666

  Medical

  $793,032

  Retail

  $1,192,591

Location Insight

City

Norwalk

County

Fairfield

State

Connecticut

Latitude

41.1013

Longitude

-73.4095

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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