Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Waterfront Land with Reservoir Views Title is generated by Realmo AI

    531L North Wilton Road, New Canaan, CT 06840

    View on Map
    Claim this Listing
    For Sale
    $1,850,000

    Flat, undeveloped waterfront acreage with magnificent reservoir views.

    Type:Land or Vacant Lot
    Lot size:
    2.78 Acres
    Added:
    Jun 24, 2024
    Days on Market:
    712
    Last Refresh:
    Apr 5 at 9:31 pm

    Property Features for 531L North Wilton Road

    General Information

    Standard status
    Active
    Lot size
    2.78 Acres
    Property subtype
    Land or Vacant Lot

    We can help!

    Listing Contact
    MITCHELL MOORE
    MITCHELL MOORE

    Listing agent MITCHELL MOORE License #RES.0829063

    Listing office Brown Harris Stevens

    Listing date Jun 24, 2024

    Source Corcoran

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

    All listing content including descriptions, pricing, images are the copyrighted material of Brown Harris Stevens

    HighLights

    • Flat, undeveloped waterfront acreage.
    • Magnificent reservoir views.
    • Right of way access from a main road (469 North Wilton Road).
    • Unpaved, roughed‑in access road is visible.
    • Never been developed.
    • Waterfront property.

    Overview

    This is a flat waterfront acreage that has never been developed, offering magnificent reservoir views. Access to the property is provided by a right of way from 469 North Wilton Road. The access road is unpaved but roughed in and visible.
    Property Profile Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Real Estate Agency Law Firm Building Supply Department Store Food Market HVAC Service Garden Center Cafe & Coffee Shop Pet Store Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    New Canaan
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.4939
    Latitude
    41.1969

    Nearby Similar for Sale

    • $1,200,000
      1,900 SF

      New Canaan Multifamily Investment Opportunity

      Two-unit townhome near downtown New Canaan and Metro North.
      55 New Norwalk Road, New Canaan, CT 06840
      View Details
    • $1,095,000

      New Canaan Acre+ Parcel

      Flat, dry 1.23 acre parcel near town.
      365 Jelliff Mill Road, New Canaan, CT 06840
      View Details
    • $600,000

      New Canaan Office Condominium

      Second floor office space in prime New Canaan location.
      39 Pine St 6A, New Canaan, CT 06840
      View Details
    • $1,250,000

      New Canaan Multifamily Investment Opportunity

      Multifamily property near town with long-term tenants.
      55 New Norwalk Rd, New Canaan, CT 06840
      View Details
    • $1,250,000
      1,900 SF

      Duplex Near Town Center

      Residential income property with garages and patios near town.
      55 New Norwalk Road, New Canaan, CT 06840
      View Details
    • $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
    • $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
    • $1,095,000

      Land For Sale

      Land available for sale in New Canaan, Connecticut.
      365 Jelliff Mill 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
    • $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
    • $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

    FAQs

    What type of property is this?
    Waterfront Land - Flat, undeveloped waterfront acreage with magnificent reservoir views.
    Where is this waterfront land located?
    The property is located at 531L North Wilton Road New Canaan, CT.
    What is the asking price?
    The asking price for this property is $1,850,000.
    What are key features of this property?
    This property features: Flat, undeveloped waterfront acreage.; Magnificent reservoir views.; Right of way access from a main road (469 North Wilton Road).
    (203) 966-7800
    We can help!
    Listing Contact
    MITCHELL MOORE
    MITCHELL MOORE
    Real Estate License ID: RES.0829063
    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

    Thank You for Inquiry
    531L North Wilton Road, New Canaan, CT 06840
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!