Individually Owned 
For Sale
1 / 8
$2,350,000
140 Water St, Norwalk, CT 06854
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Property summary
AI-generated overview
The property at 140 Water Street in Norwalk, Connecticut is a mixed-use commercial building with approximately 9,856 square feet of gross building area and on-site parking for 32 vehicles. It is located in downtown SoNo (SONO), within walking distance of the SONO Collection Mall and nearby dining, retail, parks, museums, marinas, and public transportation connections including Metro-North rail. The site has visibility and public access, and it has waterfront district characteristics with potential for upper-floor water views. The building is configured to support redevelopment concepts that include conversion to an approximately 11 to 12-unit residential building featuring two- and three-bedroom apartments, along with ground-level commercial space; a conceptual scenario includes roughly 22,500 square feet across four levels. Architectural renderings were prepared to illustrate redevelopment possibilities, and the property is positioned for end-user, investment, or development uses based on its access, parking, and redevelopment potential.
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
Current use
Occupant on record · Public records
-
Big Box & Wholesale Store Distribution Center
-
Charitable Organization Social Service Agency
-
Auto Repair Shop
-
IT Consulting Firm Tech Support Center
-
Instruction
Location
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
since 2006
4 recorded transactions
Zoning & alternative use
MC · Norwalk, CT
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
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Summary
1
Valuation conclusion
Included free
Estimated market value
$530k
Value range
$477k – $583k
±10% around blend
Estimated value / SF
$54 / SF
Confidence
Low
3 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
30
$477k
blend $530k
$583k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
9,856 SF
Lot area
0.54 ac
Year built
1955
Stories
2
APN
NORW M:2 B:84 L:9A
Zoning
MC
Assessed value
$1,050,550
Annual tax
$26,354
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$4.21M
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
23.9 mi away · 10,320 SF
25.0 mi away · 9,920 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$530k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 35 sales
$217
-75%
County 284 sales
$174
-69%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $54/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.05M
Move the market yield to see immediate price impact.
Value / SF
$107
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$66k
$1.32M
$945k
$735k
$74k
$1.47M
$1.05M
$817k
$81k
$1.62M
$1.16M
$899k
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$6.70M
22.6 mi · Nov 2025 · $768/SF
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
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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, CTZoning MC · permitted uses
MC · Norwalk, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
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
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
MC
Jurisdiction
Norwalk, CT
Recorded code
MC
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for MC in Norwalk, CT.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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