21 Frst St New Canaan, CT 06840-4755
- Showrooms
- 38,955 SF
- 0.54 lot acres
Current Use by Public Records
- Green & Tonic / Restaurant
- Stephanie Coogan L.Ac / Acupuncturist
- House of Telos / Fitness Center
- Look New Canaan / Optometrist
Property Details for 21 Frst St
- Year built
- 2015
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.54 lot acres
- Property size
- 38,955 SF
- Zone code
- 850
- Property type
- Showrooms
- APN
- NCAN M:000T B:073 L:00714
- APU
- NCANM000TB073L00714
Description
This exceptional Class A, 4,375-square-foot storefront at 21 Forest Street in New Canaan, Connecticut, presents a compelling investment opportunity. Located within the prestigious Heritage Square development (built in 2016), this commercial condominium unit boasts a 100% occupancy rate, generating a strong net operating income (NOI) of $161,081 and a 6.50% capitalization rate. The property is currently leased to two established tenants, House of Telos and Look New Canaan, under long-term triple-net (NNN) leases, ensuring consistent cash flow. The building features 15 parking spaces for tenant and customer convenience. Situated in a vibrant downtown location, this property benefits from high foot traffic and proximity to numerous restaurants and shops, including Green & Tonic, Hashi Sushi, Cava Wine Bar, Athletic Shoe Factory, and Mattress Firm. Its convenient location is also a short walk from Elm Street and the Metro-North train station. The property is zoned for Business A use and offers a rare opportunity to acquire a high-performing retail asset in a desirable New Canaan location. The asking price is $2,495,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Canaan
- County
- Fairfield
- State
- Connecticut
- Longitude
- -73.4919
- Latitude
- 41.1482
- CBSA code
- 14860
- CBSA name
- BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA
