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    72 Park St New Canaan, CT 06840

    Sponsored
    For Sale
    $3,600,000

    10,298 SF Office/Retail in New Canaan, CT

    Property size:
    10,298 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional mixed-use property at 72 Park Street in New Canaan, Connecticut, presents a compelling investment opportunity. The 10,298 square foot building, constructed in 1950, is classified as Class B and features a desirable Traditional Office subtype within a Retail A zoning district. Currently housing fourteen tenants, many of whom have enjoyed long-term occupancy (20+ years), this building offers a stable income stream. The asking price is $3,600,000, translating to $349.58 per square foot. The property includes a private parking lot with seven spaces, and benefits from its proximity to a municipal parking lot and a highly convenient location directly across from the train station and just 100 feet from a Starbucks. The 0.2-acre lot allows for potential expansion, with possibilities for building additions to the front, back, and upward. Furthermore, the property's zoning allows for the possibility of conversion to residential use, offering significant future development potential. The lease type is Net, and the building boasts a blend of office and retail spaces, catering to a diverse tenant base. This property represents a rare opportunity to acquire a well-located, income-producing asset with significant upside potential in a thriving Connecticut community.

    Property Features for 72 Park St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    10,298 SF
    Class
    B
    Lot Size
    8,712 SF

    Building Details

    Year Built
    1950

    HighLights

    • Exceptional mixed‑use investment opportunity in New Canaan, CT.
    • 10,298 SF Class B building, Traditional Office subtype, in Retail A zoning.
    • $3,600,000 asking price ($349.58/SF), fourteen tenants with long‑term occupancy.
    • Seven private parking spaces plus municipal lot proximity; 100 feet from Starbucks and across from train station.
    • 0.2‑acre lot with potential for expansion and residential conversion; Net leases.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dr. Lawrence Bass Dentist Studio Elan - Hair ... Hair Salon Taylor McKay Accountant C & C Awards, ... Marketing Agency Park St. Dental ... Dentist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    New Canaan
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.4951053
    Latitude
    41.1469608

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    FAQs

    What type of property is this?
    Office Property / Space - 10,298 SF Office/Retail in New Canaan, CT
    Where is this office property / space located?
    The property is located at 72 Park St New Canaan, CT.
    What is the asking price?
    The asking price for this property is $3,600,000.
    What are key features of this property?
    This property features: Exceptional mixed-use investment opportunity in New Canaan, CT.; 10,298 SF Class B building, Traditional Office subtype, in Retail A zoning.; $3,600,000 asking price ($349.58/SF), fourteen tenants with long-term occupancy.
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    72 Park St New Canaan, CT 06840
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    Realmo Value Estimation

    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.

    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.

    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
    72 Park St New Canaan, CT 06840
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