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    215 Post Rd West Westport, CT 06880

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    For Sale
    $8,975,000

    2.065 acres with restored building suitable for various uses.

    Property size:
    10,000 SF
    Lot size:
    2.02 Acres

    Property Features for 215 Post Rd West

    General Information

    Standard status
    Active
    Size
    10,000 SF
    Lot size
    2.02 Acres

    Building Details

    Year built
    1914

    We can help!

    Listing Contact
    Sandra Calise
    Source: Corcoran

    Listing Agency: Settlers & Traders Listing Agent: Sandra Calise

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Restored Williamsburg Style Building

    This property features a restored Williamsburg-style building of approximately 10,000 square feet, accompanied by a 532 square foot carriage house, situated on 2.065 acres. The site includes both paved and unpaved parking areas. The main building spans two stories, each floor measuring approximately 12,500 square feet, retaining the existing structure. The property is suitable for medical office, retail, or residential use, with the potential for up to 41 bedrooms in 36 units or less, catering to market-rate housing with an additional 20% affordability requirement. It is also suitable for a medical, residential, or educational facility, or a corporate park. Investment opportunities include purchasing the entire site for redevelopment or investment, purchasing building rights to construct a condominium, medical, or other development on the undeveloped portion of the site with a corresponding land sale, investing in a project with a builder/developer, or purchasing rights to construct a condominium project with appropriate land division, such as 20 two-bedroom units. Note: Westport Zoning allows zoning site approvals and subsequent division of land to be held by separate entities.
    Location Intelligence

    Current Use by Public Records

    Settlers & Traders Real ... Real Estate Agency Sandra Calise Cenatiempo, ... Real Estate Agency Connecticut Coastal Dock ... Consultant KD&J Botanica Floral ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Westport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.3712134
    Latitude
    41.1352293

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    FAQs

    What type of property is this?
    Mixed-use property - 2.065 acres with restored building suitable for various uses.
    Where is this mixed-use property located?
    The property is located at 215 Post Rd West Westport, CT.
    What is the asking price?
    The asking price for this property is $8,975,000.
    What are key features of this property?
    This property features: - 2. 065 acre site featuring a **25,000 sq ft restored Williamsburg style building**.; - Flexible zoning offers versatile options: medical, retail, residential, educational facility, or corporate park use.; - Potential for **up to 41 bedrooms in 36 units**, ideal for market rate housing with a 20% affordability requirement.
    (203) 226-0000
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    215 Post Rd West Westport, CT 06880
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    Westport, CT 06880
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    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
    215 Post Rd West Westport, CT 06880
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    Listing Contact
    Sandra Calise
    (203) 226-0000 (203) 644-4833
    Learn more
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