205 Main StNorwalk, CT 06851

Property Details for 205 Main St

Year built

1990

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

2.21 AC

Property size (Sq ft)

24,877 SF

Zone code

B2

Property type

Retail properties

Property subtype

Super regional malls

APN

NORW M:1 B:105 L:4

APU

NORWM1B105L4

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $6,045,980

  6.5%

  $5,580,904

  7%

  $5,182,268

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,191,080

  Geo Method

  $8,191,080

• Alternative Use

  Use

  Valuation

  Residential

  $4,707,702

  Hospitality

  $4,312,229

  Educational

  $3,587,724

  Medical

  $3,711,112

  Retail

  $5,580,904

Location Insight

City

Norwalk

County

Fairfield

State

Connecticut

Latitude

41.1281

Longitude

-73.4229

CBSA code

14860

CBSA name

BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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