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    Property profile & analytics

    12 Main St Norwalk, CT 06851-4711

    • Retail space
    • 7,710 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Dec 18, 2024
    $1,450,000
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0448341
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Electric Circuit Charging Station / Electric Vehicle Charging Station
    • Tanen Directing Advertising / Marketing Consultant
    • JuiceBar Charging Station / Electric Vehicle Charging Station

    Property Details for 12 Main St

    Year built
    1885
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.15 lot acres
    Property size
    7,710 SF
    Zone code
    CBDA
    Property type
    Retail space
    APN
    NORW M:1 B:66 L:25
    APU
    NORWM1B66L25

    Description

    This exceptional 1,000-square-foot office space is located on the second floor of a beautifully renovated building at 12 Main Street in Norwalk, Connecticut. Situated in a prime location, this single-tenant property offers a blend of traditional and creative office design, perfect for a variety of businesses. Built in 1885 and extensively renovated in 2022, the building boasts a charming character combined with modern amenities. The space includes a welcoming reception area, a private bathroom, and three individual offices, providing ample room for a small team or a growing business. Enjoy stunning views overlooking the Norwalk River from the large windows. The building features a 9-foot ceiling height throughout. The property sits on a 0.15-acre lot and is part of a larger building totaling 7,710 square feet. Ample parking is available for tenants and clients. The convenient location offers easy access to Norwalk City Hall and Interstate 95 (Exit 16), the Merritt Parkway, and Route 7. The property is zoned CBDA in Fairfield County, Connecticut, zip code 06851. The monthly rent is $1,500, plus separately metered utilities. This is a unique opportunity to lease a stunning, renovated office space in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,450,000
      ML approach
      $1,450,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $883,000
      Market price range: $883k - $2.21M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,435,000
      Current use
      RESTAURANT
      $1,980,000
      Change: +38% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,860,000
      Change: +30% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,800,000
      Change: +26% Conversion: Difficult
      OFFICE BUILDING
      $1,670,000
      Change: +17% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $1,220,000
      Change: -15% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.4121
    Latitude
    41.1189
    CBSA code
    14860
    CBSA name
    BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $17,702
    $235,640
    $470,020
    $705,660
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $565,000
      8,370 SF

      325 Westport Ave

      RETAIL STORES (PERSONAL SERVICES) • 8,370 SF
      325 Westport Ave, Norwalk, CT 06851-4311
      View Details
    • Value Estimation
      $365,000
      6,510 SF

      464 Main Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,510 SF
      464 Main Ave, Norwalk, CT 06851-1037
      View Details
    • Value Estimation
      $495,000
      13,525 SF

      314 Westport Ave

      RETAIL STORES (PERSONAL SERVICES) • 13,525 SF
      314 Westport Ave, Norwalk, CT 06851-4342
      View Details
    • Value Estimation
      $390,000
      3,243 SF

      558 Westport Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,243 SF
      558 Westport Ave, Norwalk, CT 06851
      View Details
    • Value Estimation
      $470,000
      6,911 SF

      326 Main Ave

      RETAIL STORES (PERSONAL SERVICES) • 6,911 SF
      326 Main Ave, Norwalk, CT 06851-6108
      View Details
    • Value Estimation
      $1,280,000
      5,035 SF

      163 Main St

      RETAIL STORES (PERSONAL SERVICES) • 5,035 SF
      163 Main St, Norwalk, CT 06851-3709
      View Details

    Similar Nearby for Sale

    • $3,500,000

      Norwalk Retail Property For Sale

      Retail property for sale with existing tenant in Norwalk.
      391 Westport Ave, Norwalk, CT 06851
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    • $1,250,000

      Fully Leased Retail Property

      Retail property with two tenants, being sold with adjacent property.
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      Norwalk Retail Building For Sale

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      3,892 SF

      69 Main ST

      Individual retail properties • 3,892 SF
      69 Main St, Norwalk, CT 06851
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    • $179,000

      Profitable Gas Station Opportunity

      Citgo gas station in high-traffic Norwalk location for sale.
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    • Contact for pricing
      3,892 SF

      Retail Property in Norwalk, CT

      Retail property available for sale in Norwalk, Connecticut.
      69 Main St, Norwalk, CT 06851
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    Similar Nearby for Lease

    • $25 SF/Yr
      2,380 SF

      Retail and Office Space Available

      Divisible retail and office spaces for lease with parking.
      430 Main Ave, Norwalk, CT 06851
      View Details
    • $26 SF/Yr
      28,000 SF

      Norwalk Office/Retail Space

      Prime Norwalk location, 2,000 sq ft available.
      205 Main St, Norwalk, CT 06851
      View Details
    • $25 SF/Yr
      1,625 SF

      Norwalk Retail Space Available

      Retail space available for lease in Norwalk, Connecticut.
      345 Main Ave, Norwalk, CT 06851
      View Details
    • Contact for pricing
      7,400 SF

      Retail and Office Space Available

      Ground floor retail and second floor office space for rent.
      50 Cross St, Norwalk, CT 06851
      View Details
    • Contact for pricing
      13,890 SF

      Retail Space on Route 1

      Retail space with high visibility on Route 1.
      55 Westport Ave, Norwalk, CT 06851
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Shopping Center

      1,200 SF end cap in a busy shopping center.
      644 Main Ave, Norwalk, CT 06851
      View Details
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    12 Main St
    Norwalk, CT 06851-4711
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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