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    150 Connecticut Ave Norwalk, CT 06854

    Sponsored
    For Sale
    $2,700,000

    Prime Norwalk location, mixed-use, investment opportunity.

    Property size:
    9,087 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, the Utopia Building, is situated at 150 Connecticut Avenue in Norwalk, Connecticut, within Fairfield County (zip code 06854). Built in 1996, this two-story building boasts a total of 9,087 square feet, with 6,117 square feet of net rentable space. Currently offered for sale by owner at $2,700,000, this property presents a compelling investment opportunity. Its prime location on Norwalk's premier retail corridor, connecting Darien and Westport, ensures high visibility and accessibility. The building's current configuration is ideal for an owner-user, but also holds significant potential for future development. The first floor is currently available for lease at $45 per square foot NNN, or the entire building can be leased for $30 per square foot NNN. A particularly attractive feature is the possibility of converting the second-floor office space into four residential apartments, significantly increasing the property's value and rental income. This versatile property offers a unique blend of immediate income potential and long-term growth opportunities. The building also features digital signage, enhancing its marketing and advertising capabilities. This is a rare opportunity to acquire a well-located, adaptable property in a thriving Connecticut market.

    Property Features for 150 Connecticut Ave

    General Information

    Property type
    Mixed-use properties
    Square Feet
    9,087 SF

    Building Details

    Year Built
    1996
    Stories
    2

    HighLights

    • 150 Connecticut Avenue, Norwalk, CT 06854, a 9,087 SF mixed‑use building built in 1996, offered at $2,700,000.
    • 6,117 SF of net rentable space on a prime retail corridor connecting Darien and Westport.
    • Currently configured for owner‑user, with first floor available for lease at $45/SF NNN, or entire building at $30/SF NNN.
    • Potential for conversion of second‑floor office space into four residential units.
    • Features digital signage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Everything Home and Family Child Care Agency Caruso's Plumbing & Heating Plumber Exchange Club Of Norwalk ... Non-Profit Organization Ticketpro.com Event Ticket Seller Norwalk Exchange Club Non-Profit Organization

    Suggested Use

    Realty agency Law Firm 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
    -73.4301174
    Latitude
    41.1050374

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    FAQs

    What type of property is this?
    Mixed-use property - Prime Norwalk location, mixed-use, investment opportunity.
    Where is this mixed-use property located?
    The property is located at 150 Connecticut Ave Norwalk, CT.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: 150 Connecticut Avenue, Norwalk, CT 06854, a 9,087 SF mixed-use building built in 1996, offered at $2,700,000.; 6,117 SF of net rentable space on a prime retail corridor connecting Darien and Westport.; Currently configured for owner-user, with first floor available for lease at $45/SF NNN, or entire building at $30/SF NNN.
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    150 Connecticut Ave Norwalk, CT 06854
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    Norwalk, CT 06854
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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
    150 Connecticut Ave Norwalk, CT 06854
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