Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Westport Mixed-Use Building Opportunity Title is generated by Realmo AI

    315 Main Street, Westport, CT 06880

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,500,000

    Mixed-use building in prime Westport location near Main Street.

    Type:OFC, OFC-BLDG, OFC-RET
    Property size:
    2,718 SF
    Lot size:
    21.00 Acres
    Price / SF:
    $551/SF
    Added:
    Nov 15, 2024
    Days on Market:
    556
    Last Refresh:
    Apr 3 at 4:57 am

    Property Features for 315 Main Street

    General Information

    Standard status
    Active
    Size
    2,718 SF
    Lot size
    21.00 Acres
    Property subtype
    OFC, OFC-BLDG, OFC-RET

    We can help!

    Listing Contact
    Andreas Senie

    Listing agent Andreas Senie License #REB.0790681

    Listing office KW Commercial | Connecticut | Andreas Senie

    Listing date Nov 15, 2024

    Source Realnex

    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 KW Commercial | Connecticut | Andreas Senie

    HighLights

    • 2,718 SF mixed‑use building on a 21‑acre lot
    • High visibility corner location adjacent to restaurants and walking distance to Main Street shopping
    • Prestigious Westport address
    • Open floor plan office space with private access
    • Minutes from Metro North train station, I‑95, Merritt Parkway, and Route 7
    • Easy access to midtown Manhattan via Metro North (approx. 60 minutes)

    Overview

    This 2,718 square foot mixed-use building is situated on a 21-acre lot and includes parking space for five vehicles. The property is located in Westport, offering a high-visibility corner location adjacent to restaurants and within walking distance of the high-end shopping on Main Street. The available space is suitable for nearly any professional office use, featuring an open floor plan and private access to the office spaces. Westport is recognized throughout New England as a culturally rich town with convenient access to the Metro North train station, I-95, the Merritt Parkway, and Route 7. The Metro North Station provides access to midtown Manhattan in approximately 60 minutes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Robert Storm Architects Architect Veda Healing Spa Spa & Massage Center

    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
    -73.3624882
    Latitude
    41.1498952

    Nearby Similar for Sale

    • $1,750,000
      2,599 SF

      Historic Office Property in Westport

      Historic office building in downtown Westport with multiple tenants.
      61 Jesup Road, Westport, CT 06880
      View Details
    • $1,250,000
      1,400 SF

      Westport Duplex on Large Lot

      Two-unit property on 0.87 acres in Old Hill section.
      119 Kings Highway North, Westport, CT 06880
      View Details
    • $1,850,000
      4,196 SF

      Historic Saugatuck Mixed-Use Property

      Transformative site in historic Saugatuck, near train, I-95.
      31 Franklin Street, Westport, CT 06880
      View Details
    • $1,450,000
      2,361 SF

      Westport Office Building with Expansion Potential

      Prime commercial location with flexible spaces and expansion potential.
      4 Whitney Street Extension, Westport, CT 06880
      View Details
    • $3,300,000
      10,593 SF

      Post Road East Retail Properties

      Contiguous retail properties with redevelopment potential in prime location.
      979 Post Rd E, Westport, CT
      View Details
    • Contact for pricing
      6,320 SF

      Contemporary Westport Office Building

      Fully leased office building near Main Street and transportation.
      18 Kings Hwy N, Westport, CT
      View Details
    • $8,975,000
      10,000 SF

      Restored Williamsburg Style Building

      2.065 acres with restored building suitable for various uses.
      215 Post Road West, Westport, CT 06880
      View Details
    • $1,999,000
      9,771 SF

      Versatile Westport Commercial Building For Sale

      Adaptable commercial building suitable for office, medical, or creative uses.
      1698 Post Rd E, Westport, CT 06880
      View Details
    • $6,400,000
      11,437 SF

      Westport Retail Property for Sale

      Retail property available for purchase in Westport, Connecticut.
      1550-1560 Post Rd E, Westport, CT
      View Details
    • $1,500,000
      895 SF

      Boutique Retail Space on Main

      Prime Westport retail property fully leased to Skin Laundry.
      135 Main St, Westport, CT
      View Details
    • $3,995,000
      8,000 SF

      Retail Building on Busy Corner

      8,000+/- SF retail building with high visibility and ample parking.
      1505 Post Rd E, Westport, CT 06880
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building in prime Westport location near Main Street.
    Where is this mixed-use property located?
    The property is located at 315 Main Street Westport, CT.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: 2,718 SF mixed‑use building on a 21‑acre lot; High visibility corner location adjacent to restaurants and walking distance to Main Street shopping; Prestigious Westport address
    (203) 259-2172
    We can help!
    Listing Contact
    Andreas Senie
    Real Estate License ID: REB.0790681
    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
    315 Main Street, Westport, CT 06880
    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!