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Property profile & analytics
FOR LEASE
Showrooms
161 Main St Westport, CT 06880
Individually Owned
32-yr Hold
Free & Clear
Property ID
US15-0646660
For Lease
1 / 2
$1,225,000
161 Main St, Westport, CT 06880
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
11,276 SF
Lot
0.13 ac (5,663 SF)
Zoning code
BCD
APN
WPOR M:C10 L:083-000
UPID
US15-0646660
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.23M
Owner & transaction history
Elias Papageorge · 32 yrs held
Elias Papageorge
since 1993
6 recorded transactions
Zoning & alternative use
BCD · Westport, 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 Westport submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Westport 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$109 / 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
$80,057
Tax year 2023
Assessed value
$4,362,800
Assessed 2023
Previous assessed
$4,362,800
+0.0% YoY
Effective rate
1.83%
On assessed value
Assessed land
$2,709,000
Assessed improvement
$1,653,800
Applied tax rate
138.0000
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Lease
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
6
Rooms
12
Total area
11,276 SF
Lot
0.13 ac (5,663 SF)
Zoning code
BCD
APN
WPOR M:C10 L:083-000
UPID
US15-0646660
Jurisdiction
WESTPORT
Zoning & alternative use
BCD · Westport, CT
Zoning BCD · permitted uses
BCD · Westport, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Westport. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1900
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
6
Rooms
12
Lot
0.13 ac
Current owner
From public records · entity-resolved
Elias Papageorge
Individual
Free & Clear · 32 yrs held
Mailing address
PO BOX 5040, WESTPORT, CT 06881-5040
Ownership since
1993
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 31, 2024
—
Honeydo Family LLC
—
Deed
related
$2,300,000 · Union Savings Bank
Jan 18, 2017
—
Honeydo Family LLC
—
Deed
related
$2,500,000 · Bankwell Bank
Apr 19, 2001
—
Elias Papageange
—
Deed Of Trust
related
$750,000 · First Union National Bank
Feb 2, 1995
—
Elias Papageorge
—
Deed Of Trust
related
$1,200,000 · First Fidelity Bank NA
Feb 22, 1994
—
Elias Papageorge
—
Deed Of Trust
related
$275,000 · Charles Sewall
Aug 4, 1993
$192,000
Elias Papageorge
Milici,joe
Grant Deed
—
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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