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    507 Westport Ave Norwalk, CT 06851

    For Sale
    $2,975,000

    18,500 SF Office/Industrial/Flex Space

    Property size:
    18,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional 18,500-square-foot commercial property, located at 507 Westport Avenue in Norwalk, Connecticut (06851), presents a unique investment opportunity. The building, zoned B2, offers a versatile mix of office, industrial, and flex space, ideal for a variety of uses. Currently, 12,737 square feet are immediately available, perfect for an owner-user seeking warehouse or storage space, or a sports-related business. The property boasts a substantial 6,000 square feet of clear span ceiling at 25 feet high, with the remaining space featuring ceilings ranging from 12 to 20 feet. Convenient features include a drive-in door, a loading dock, and ample parking for 52 vehicles. Its prime location on the Westport/Norwalk line offers excellent visibility, situated directly across from a thriving shopping complex anchored by a movie theater and Bed Bath & Beyond. Enjoy easy access to I-95 and proximity to the Merritt Parkway, with the planned West Ave Norwalk Mall approximately 2.3 miles away. The 1.12-acre lot provides ample space, and the asking price has been reduced to an attractive $2,975,000. This is a rare opportunity to acquire a well-located, versatile commercial property in a high-demand area.

    Property Features for 507 Westport Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    18,500 SF
    Lot Size
    48,787 SF

    HighLights

    • $2,975,000 Asking Price
    • 18,500 Square Foot Building
    • 12,737 Square Feet Available for Lease or Sale, ideal for sports‑related businesses or warehouse/storage users
    • 6,000 SF with 25' clear ceiling height; remaining space with 12'-20' ceilings
    • Drive‑in door and loading dock
    • B2 Zoning
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Spadone-Alfa Self Lubricating Manufacturer Anselmo Cirifalco Personal Trainer Apadana Rugs & Carpets Flooring Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.3857614
    Latitude
    41.1287411

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    FAQs

    What type of property is this?
    Distribution property - 18,500 SF Office/Industrial/Flex Space
    Where is this distribution property located?
    The property is located at 507 Westport Ave Norwalk, CT.
    What is the asking price?
    The asking price for this property is $2,975,000.
    What are key features of this property?
    This property features: $2,975,000 Asking Price; 18,500 Square Foot Building; 12,737 Square Feet Available for Lease or Sale, ideal for sports-related businesses or warehouse/storage users
    Request Owner's contact information
    507 Westport Ave Norwalk, CT 06851
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    Norwalk, CT 06851
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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
    507 Westport Ave Norwalk, CT 06851
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