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

    583 Howe Avenue Shelton, CT 06484

    View on Map
    For Sale
    $1,799,000

    COMMERCIAL - Shelton, CT

    Property size:
    11,300 SF
    Lot size:
    0.54 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    8
    Last Refresh:
    Apr 2 at 12:06 am

    Property Features for 583 Howe Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    IB-2
    Bathrooms
    2
    Rooms
    Bathroom 1, Bathroom 2
    Standard status
    Active
    Size
    11,300 SF
    Lot size
    0.54 Acres

    Taxes and HOA fees

    TaxYear
    2026
    TaxAnnualAmount
    14344

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Water source
    Public

    Building Details

    Year built
    1910

    We can help!

    Listing Contact
    Jason Kinard

    Listing agent Jason Kinard

    Listing office BHGRE Shore & Country 27 Strawberry Hill Avenue, Stamford, CT

    Listing date Mar 26, 2026

    MLS# 24161986

    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

    Shelton Commercial Redevelopment Opportunity

    This is an outstanding redevelopment opportunity located on a 0.55-acre dead-end corner lot at 583 Howe Avenue, Shelton, CT. The property is zoned IB-2 and offers excellent potential for multifamily residential or mixed-use development through special exception or Planned Development District (PDD). The prime corner configuration provides controlled access and is well-suited for underground parking. The believed maximum height is 5 stories from Howe Street grade, offering attractive upper-floor views. Phase I & II reports from 2018 (SBA cleared) confirmed one historical REC fully investigated with no groundwater impact and no open CTDEEP case. The 2024 taxes are $14,618 (current). Recent capital improvements completed since 2018 position the site as shovel-ready. The property size is 11300 Square Feet. The lot size is 0.54 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shred Nations Business To Business Service U-Haul Neighborhood Dealer Car Rental Facility Shelton Storage Solutions ... Storage Facility Rent-A-Factory Industrial Manufacturer

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelton
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.097257
    Latitude
    41.320209

    Nearby Similar for Sale

    • $250,000
      800 SF

      Established Liquor Store Opportunity

      Liquor store for sale on heavily trafficked State Road.
      443 River Road, Shelton, CT 06484
      View Details
    • $550,000

      Shelton Land Investment Opportunity

      7.07-acre wooded parcel in desirable Huntington neighborhood.
      Waverly Road, Shelton, CT 06484
      View Details
    • $399,999
      1,674 SF

      Shelton Two-Family Investment Opportunity

      Two-unit property in Shelton, CT, ideal for investors or owner-occupants.
      111 Long Hill Avenue, Shelton, CT 06484
      View Details
    • $1,799,000
      11,300 SF

      Redevelopment Opportunity on Howe Avenue

      0.55-acre corner lot suitable for multifamily or mixed-use development.
      583 Howe Avenue, Shelton, CT 06484
      View Details
    • $725,000
      3,188 SF

      Remodeled Bar/Cafe in Downtown Shelton

      Freestanding bar/cafe in downtown Shelton with indoor and outdoor seating.
      127 Center Street, Shelton, CT 06484
      View Details
    • $2,769,905
      2,644 SF

      New Construction Cava in Shelton

      New construction Cava pad site in Fountain Square.
      779 Bridgeport Ave, Shelton, CT 06484
      View Details
    • $8,211,958
      13,931 SF

      New Trader Joe's in Shelton

      New construction Trader Joe’s within Fountain Square shopping center.
      775 Bridgeport Ave, Shelton, CT 06484
      View Details
    • $8,214,095
      14,193 SF

      New Retail Strip Center

      New construction retail strip center in Shelton, Connecticut.
      795 Bridgeport Ave, Shelton, CT 06484
      View Details
    • Contact for pricing
      161,540 SF

      Shelton Connecticut Commercial Property Auction

      Commercial property in Shelton, CT to be auctioned January 2026.
      20 Constitution Blvd S, Shelton, CT 06484
      View Details
    • $14,782,840
      34,007 SF

      New Retail Strip Center

      New construction retail strip center 100% leased to fourteen tenants.
      785 Bridgeport Ave, Shelton, CT 06484
      View Details
    • $849,000
      6,288 SF

      Mixed-Use Building with Established Tavern

      Two-story building with tavern, apartments, and investment potential.
      364 Coram Avenue, Shelton, CT 06484
      View Details
    • $799,000
      3,188 SF

      Downtown Shelton Bar/Cafe For Sale

      Fully equipped bar/cafe in downtown Shelton with indoor/outdoor seating.
      127 Center St, Shelton, CT
      View Details

    FAQs

    What type of property is this?
    Commercial land - 0.55-acre corner lot suitable for multifamily or mixed-use development.
    Where is this commercial land located?
    The property is located at 583 Howe Avenue Shelton, CT.
    What is the asking price?
    The asking price for this property is $1,799,000.
    What are key features of this property?
    This property features: Redevelopment opportunity on 0.55‑acre corner lot.; Zoned IB‑2 with potential for multifamily or mixed‑use development.; **Prime corner configuration suited for underground parking.**
    (203) 979-0920
    We can help!
    Listing Contact
    Jason Kinard
    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!