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    Property profile & analytics

    247 Main Ave Norwalk, CT 06851-6103

    • Gas stations
    • 2,223 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    Sep 30, 2021
    Value Estimations
    $375,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0355416
    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

    • Shell / Convenience Store / Gas Station
    • Peachwave of Norwalk / Frozen Yogurt Shop
    • Route 7 Foodmart / Gas Station
    • PureCoin Bitcoin ATM / Atm
    • Bitcoin ATM Norwalk - Coinhub / Atm / Currency Exchange Service

    Property Details for 247 Main Ave

    Year built
    1969
    Construction
    FRAME
    Lot size
    0.42 lot acres
    Property size
    2,223 SF
    Zone code
    B2
    Property type
    Gas stations
    APN
    NORW M:5 B:47 L:161
    APU
    NORWM5B47L161

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $359,000
      Market price range: $359k - $521k

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.424
    Latitude
    41.1315
    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
    $25,304
    $580,630
    $425,060
    $1,005,690
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $380,000
      1,736 SF

      347 Main Ave

      GAS STATION • 1,736 SF
      347 Main Ave, Norwalk, CT 06851-1508
      View Details
    • Value Estimation
      $380,000
      2,862 SF

      498 Westport Ave

      SERVICE STATION (FULL SERVICE) • 2,862 SF
      498 Westport Ave, Norwalk, CT 06851-4424
      View Details
    • Value Estimation
      $360,000
      1,980 SF

      527 Main Ave

      GAS STATION • 1,980 SF
      527 Main Ave, Norwalk, CT 06851-1004
      View Details
    • Value Estimation
      $270,000
      1,684 SF

      10 Chestnut Hl Rd

      GAS STATION • 1,684 SF
      10 Chestnut Hl Rd, Norwalk, CT 06851-2524
      View Details
    • Value Estimation
      $310,000
      1,792 SF

      33 Nn Ave

      GAS STATION • 1,792 SF
      33 Nn Ave, Norwalk, CT 06851-3816
      View Details
    • Value Estimation
      $360,000
      2,232 SF

      207 Westport Ave

      GAS STATION • 2,232 SF
      207 Westport Ave, Norwalk, CT 06851-4310
      View Details

    Similar Nearby for Sale

    • $179,000

      Profitable Gas Station Opportunity

      Citgo gas station in high-traffic Norwalk location for sale.
      309 Main Ave, Norwalk, CT 06851
      View Details
    • Contact for pricing
      3,892 SF

      69 Main ST

      Individual retail properties • 3,892 SF
      69 Main St, Norwalk, CT 06851
      View Details
    • $3,500,000

      Norwalk Retail Property For Sale

      Retail property for sale with existing tenant in Norwalk.
      391 Westport Ave, Norwalk, CT 06851
      View Details
    • 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
      View Details
    • Contact for pricing
      1,360 SF

      Norwalk Restaurant Redevelopment Opportunity

      Prime Norwalk location, redevelopment potential.
      71 Main St, Norwalk, CT 06851
      View Details
    • $2,695,000
      5,009 SF

      Norwalk Retail Building For Sale

      5,009 SF retail building on a corner lot.
      594 Main Ave, Norwalk, CT 06851
      View Details

    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
    • Contact for pricing
      800 SF

      Norwalk Executive Office Space

      800 SF Office Suite Available Now
      18 Chestnut Hill Rd, 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
      165,000 SF

      Walmart Center Retail Space

      Norwalk, CT Power Center Opportunity
      650 Main Ave, 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
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    247 Main Ave
    Norwalk, CT 06851-6103
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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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