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

    247 East Ave, Unit 2 Norwalk, CT 06855

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2,500 /Mo

    Sun-drenched one-bedroom apartment with pond views in East Norwalk.

    Lot size:
    0.23 Acres

    Property Features for 247 East Ave

    General Information

    Property type
    Multi Family
    Standard status
    Active
    Lot size
    0.23 Acres

    Building Details

    Year built
    1869

    We can help!

    Listing Contact
    Lori Printz
    Source: Elliman

    Listing Agent: Lori Printz

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

    Learn more

    Overview

    East Norwalk Apartment with Pond View

    This second-floor apartment offers coastal living with views of Mill Pond in East Norwalk. The one-bedroom, one-and-a-half-bath home features a living room with a dining area and hardwood floors. A sunroom provides space for a home office, studio, or wellness area. The kitchen includes an enclosed porch overlooking the pond. In-unit laundry and access to a walk-up attic provide storage space. The property includes a private front entrance with foyer and a private driveway accommodating two cars for off-street parking. The location is near the train, SoNo, Norwalk Harbor, and other amenities.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.4034156
    Latitude
    41.1011917

    Nearby Similar for Lease

    • $2,600 /Mo
      1,682 SF

      Versatile Office Space in Norwalk

      Bright office space with private offices and shared common areas.
      303 Newtown Ave, Norwalk, CT 06851
      View Details
    • $1,650 /Mo
      430 SF

      Downtown Norwalk Retail Space Available

      Move-in ready space suitable for cafe, studio, or juice bar.
      70 S Main St, Norwalk, CT 06854
      View Details
    • $800 /Mo
      175 SF

      Downtown Norwalk Office Space

      Office space for lease in downtown Norwalk, Connecticut.
      97 Main St Unit, Norwalk, CT 06851
      View Details
    • $700 /Mo
      150 SF

      Downtown Norwalk Office Space

      Prime office space in downtown Norwalk with modern amenities.
      97 Main St Unit, Norwalk, CT 06851
      View Details
    • $800 /Mo
      175 SF

      Downtown Norwalk Office Space

      Office space for lease in downtown Norwalk, Connecticut.
      97 Main St Unit, Norwalk, CT 06851
      View Details
    • $3,200 /Mo

      Norwalk Warehouse and Retail Space

      Versatile commercial property with warehouse and retail/residential units for lease.
      22 Leonard St, Norwalk, CT 06850
      View Details
    • $2,800 /Mo

      Turn-Key Salon in Norwalk Plaza

      Renovated salon in a high-traffic plaza near Norwalk Hospital.
      51 Stevens St, Norwalk, CT 06850
      View Details
    • $1.00 SF/Yr
      5,575 SF

      Versatile Industrial Space Available

      Adaptable industrial space suitable for retail, showroom, office, or warehouse.
      5 Reynolds St, Norwalk, CT 06855
      View Details
    • $700 /Mo
      150 SF

      Downtown Norwalk Office Space

      Prime office space in renovated historic building, downtown Norwalk.
      97 Main St, Norwalk, CT 06851
      View Details
    • $24 SF/Yr
      124,336 SF

      Norwalk Class A Office Space

      Renovated office building with premium amenities and flexible configurations.
      200 Connecticut Ave, Norwalk, CT 06854
      View Details
    • $800 /Mo
      175 SF

      Downtown Norwalk Office Space

      Office space for lease in downtown Norwalk, Connecticut.
      97 Main St, Norwalk, CT 06851
      View Details
    • $800 /Mo
      175 SF

      Downtown Norwalk Office Space

      Office space for lease in downtown Norwalk, Connecticut.
      97 Main St, Norwalk, CT 06851
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Sun-drenched one-bedroom apartment with pond views in East Norwalk.
    Where is this multifamily property located?
    The property is located at 247 East Ave, Unit 2 Norwalk, CT.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: - Pond views in sought-after East Norwalk location; - Private driveway with parking for two cars; - Sunroom ideal for home office or studio
    Request Owner's contact information
    247 East Ave, Unit 2 Norwalk, CT 06855
    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.
    247 East Ave, Unit 2
    Norwalk, CT 06855
    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
    247 East Ave, Unit 2 Norwalk, CT 06855
    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

    We can help!
    Listing Contact
    Lori Printz
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!