Property profile

205 Main St Norwalk, CT 06851

OFF-MARKET
Super regional malls
Property ID
US15-0481771
24,877 SF 2.21 ac lot Built 1990
Entity Owned 6-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional commercial property, located at 205 Main Street, Rainbow Plaza in Norwalk, Connecticut (06851), offers 2,000 square feet of immediately available space within a larger 28,000 square foot building. Situated on a 3-acre lot, this Class B property boasts a convenient location with high visibility and excellent access via major roadways including the Merritt Parkway, I-95, Route 1, and Route 7 Connector (exit 2). Built in 1991 and renovated in 2010, the two-story building features 15 suites in total, with ample parking (130 spaces) available for tenants and customers. The space is ready for tenant improvements, allowing for customization to suit specific business needs. The property benefits from a high traffic count exceeding 24,000 cars daily, making it an ideal location for a variety of businesses. The zoning is B2. The available space features a 15-foot ceiling height and is part of a vibrant shopping center with established long-term tenants. The minimum divisible space is 2,000 square feet, with a maximum contiguous space also at 2,000 square feet. The property is suitable for various uses, including medical, traditional office, retail, storefront, food service, and showroom uses. Power is supplied by a 200-amp service. There are no elevators in the building. The cross street is New Canaan Avenue.

Property profile

Verified
Property type Super regional malls
Use group REGIONAL SHOPPING CENTER, MALL
Year built 1990
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 24,877 SF
Lot 2.21 ac (96,442 SF)
Zoning code B2
APN NORW M:1 B:105 L:4
UPID US15-0481771

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Home Appliance Store
  • Nail Salon
  • (Bike/Boat/Book/etc) Store Bakery
  • Party Supply Store (Bike/Boat/Book/etc) Store
  • Physician

Location

205 Main St Norwalk, CT 06851-3530
Norwalk metro Census 43400 BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$750k
CAP Approach CAP
by Request
Comparable Approach Comparable
$945k
Blend (final) Blend
$845k

Owner & transaction history

since 2019
5 recorded transactions
2021
Price N/A
2019
Price N/A
1996
$3.5M
1996
$1.1M
1990
Price N/A

Zoning & alternative use

B2 · Norwalk, CT

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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