Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    158L Carter Street New Canaan, CT 06840

    View on Map
    For Sale
    $1,995,000

    LAND - New Canaan, CT

    Lot size:
    2.31 Acres
    Added:
    Jun 24, 2024
    Days on Market:
    647
    Last Refresh:
    Apr 1 at 3:06 pm

    Property Features for 158L Carter Street

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    2AC
    Standard status
    Active
    Lot size
    2.31 Acres

    Taxes and HOA fees

    TaxYear
    2026
    TaxAnnualAmount
    11618

    Utilities

    Water source
    Private

    We can help!

    Listing Contact
    Mitchell Moore
    Mitchell Moore

    Listing agent Mitchell Moore License #RES.0829063

    Listing office Brown Harris Stevens 93 Cherry Street, Westport, CT

    Listing date Jun 24, 2024

    MLS# 24027431

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    New Canaan Land For Sale

    This is a level 2.31-acre property located in New Canaan, CT. The land has an approved five-bedroom septic system. All engineering and drainage plans are complete, making the property ready to build on. The flat land is bordered by stone walls.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Canaan
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.470802
    Latitude
    41.153625

    Nearby Similar for Sale

    • $600,000
      1,069 SF

      New Canaan Office Condominium

      Second-floor office condo in prime New Canaan location.
      39 Pine Street #6A, New Canaan, CT 06840
      View Details
    • $4,800,000

      Approved Building Lots in New Canaan

      Two approved building lots totaling 4.91 acres in New Canaan.
      230 & 244 West Road, New Canaan, CT 06840
      View Details
    • $1,625,000

      Level Lot with Water Views

      5.56 acre lot with water views in New Canaan.
      469L N Wilton Road, New Canaan, CT 06840
      View Details
    • $5,174,000

      Waterfront Land Estate Opportunity

      13-acre waterfront land for a private estate.
      469, 531,533 N Wilton Road, New Canaan, CT 06840
      View Details
    • $1,625,000

      Two Acre Lot with Stream

      Two-acre lot featuring a meadow and gently flowing stream.
      470 Frogtown Road Lot 2, New Canaan, CT 06840
      View Details
    • $6,500

      Spacious Condo Overlooking Mead Park

      Four-bedroom condo with park views, close to downtown amenities.
      193 Park Street #2, New Canaan, CT 06840
      View Details
    • $1,850,000

      Waterfront Acreage in New Canaan

      Undeveloped flat land with reservoir views in New Canaan.
      531L N Wilton Road, New Canaan, CT 06840
      View Details
    • $2,200,000

      New Canaan Land with Septic

      Level 2.14-acre property with approved seven-bedroom septic system.
      140L Carter Street, New Canaan, CT 06840
      View Details
    • $2,100,000

      Land with Approved Septic System

      Level 2-acre land parcel with approved seven-bedroom septic.
      136L Carter Street, New Canaan, CT 06840
      View Details
    • $1,895,000

      New Canaan Land For Sale

      Level 2.49-acre property with approved septic system in New Canaan.
      152L Carter Street, New Canaan, CT 06840
      View Details
    • $1,699,000

      Waterfront Land in New Canaan

      4.75 acres of waterfront land with meadow and pond.
      533L N Wilton Road, New Canaan, CT 06840
      View Details
    • $5,174,000

      Waterfront Land in New Canaan

      13+ acres to create a private dream estate.
      469, 531,533 N Wilton Road, New Canaan, CT 06840
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Level 2.31-acre property with approved septic system in New Canaan.
    Where is this residential land & home lot located?
    The property is located at 158L Carter Street New Canaan, CT.
    What is the asking price?
    The asking price for this property is $1,995,000.
    What are key features of this property?
    This property features: Approved five bedroom septic system already in place.; Ready to build: all engineering and drainage plans are complete.; Beautiful, level property.
    (954) 288-8243
    We can help!
    Listing Contact
    Mitchell Moore
    Mitchell Moore
    Real Estate License ID: RES.0829063
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!