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Property profile & analytics
FOR SALE
Office buildings
140 Water St Norwalk, CT 06854
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US15-0320148
For Sale
1 / 8
$2,350,000
140 Water St, Norwalk, CT 06854
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1955
Construction
STEEL FRAME
Total area
9,856 SF
Lot
0.54 ac (23,393 SF)
Zoning code
MC
APN
NORW M:2 B:84 L:9A
UPID
US15-0320148
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
SpikedSeltzer Big Box & Wholesale Store Distribution Center
-
Family & Children’s Agency Charitable Organization Social Service Agency
-
Steelshedsono Auto Repair Shop
-
Realm IT Consulting Firm Tech Support Center
-
JAM Junior Art and Music Instruction
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$435k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$623k
Blend (final)
Blend
$530k
Owner & transaction history
David R Anspach · 19 yrs held
David R Anspach
since 2006
4 recorded transactions
Zoning & alternative use
MC · Norwalk, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norwalk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norwalk submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$530k
Range $477k – $583k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$54 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$26,354
Tax year 2023
Assessed value
$1,050,550
Assessed 2023
Previous assessed
$1,050,550
+0.0% YoY
Effective rate
2.51%
On assessed value
Assessed land
$601,290
Assessed improvement
$449,260
Applied tax rate
129.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1955
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Bathrooms
6
Total area
9,856 SF
Lot
0.54 ac (23,393 SF)
Zoning code
MC
APN
NORW M:2 B:84 L:9A
UPID
US15-0320148
Jurisdiction
NORWALK
Zoning & alternative use
MC · Norwalk, CT
Zoning MC · permitted uses
MC · Norwalk, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norwalk. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1955
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Bathrooms
6
Lot
0.54 ac
Current owner
From public records · entity-resolved
David R Anspach
Individual
Mailing address
225 RIDGEFIELD RD, WILTON, CT 06897-2432
Ownership since
2006
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 21, 2006
$1,300,000
David R Anspach
Rickard Realty Corp
Warranty Deed
$1,040,000 · Patriot Bk NA
Dec 17, 2004
$1,150,000
Rickard Realty Corp
Sandomar Corp
Warranty Deed
$862,500 · Ct Community Bank
Jun 6, 1997
$575,000
Colorbureau INC
Massello,leonard
Grant Deed
$565,000 · At&t Small Bus Lend
Aug 5, 1991
—
Leonard Massello
—
Deed Of Trust
related
$1,312,500 · Citytrust
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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