Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    261 Elm St New Canaan, CT 06840-5310

    • Commercial real estate
    • 1.42 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0402476
    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

    • Chevrolet Charging Station / Electric Vehicle Charging Station
    • Karl Chevrolet Service & Parts Department / Auto Parts Store
    • The Karl Chevrolet Company / Car Dealership / Auto Repair Shop
    • New Canaan Hand Wash & Detail / Car Wash

    Property Details for 261 Elm St

    Lot size
    1.42 lot acres
    Zone code
    BUSA
    Property type
    Commercial real estate
    APN
    NCAN M:000L B:018 L:00843
    APU
    NCANM000LB018L00843

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New Canaan
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.4992
    Latitude
    41.146
    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
    $59,432
    $2,399,740
    $738,150
    $3,137,890
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2.14 Acres

      1035 Silvermine Rd

      COMMERCIAL (GENERAL) • 2.14 Acres
      1035 Silvermine Rd, New Canaan, CT 06840
      View Details
    • Value Estimation by Request
      8.74 Acres

      143 Vly Rd

      COMMERCIAL (GENERAL) • 8.74 Acres
      143 Vly Rd, New Canaan, CT 06840
      View Details
    • Value Estimation by Request
      0.68 Acres

      44 Ee Ave

      COMMERCIAL (GENERAL) • 0.68 Acres
      44 Ee Ave, New Canaan, CT 06840-5518
      View Details
    • Value Estimation by Request
      2.23 Acres

      163 Comstock Hl Rd

      COMMERCIAL (GENERAL) • 2.23 Acres
      163 Comstock Hl Rd, New Canaan, CT 06840-5222
      View Details
    • Value Estimation by Request
      0.32 Acres

      22 Cross St

      COMMERCIAL (GENERAL) • 0.32 Acres
      22 Cross St, New Canaan, CT 06840-4821
      View Details
    • Value Estimation
      $500,000
      0.55 Acres

      11 Frst St

      COMMERCIAL (GENERAL) • 0.55 Acres
      11 Frst St, New Canaan, CT 06840-4745
      View Details

    Similar Nearby for Sale

    • $1,379,000
      2,735 SF

      Modern Condo in Prime Location

      Updated condo with modern amenities, close to shopping and transportation.
      181 South Ave, New Canaan, CT 06840
      View Details
    • $1,850,000
      2.78 Acres

      Waterfront Acreage in New Canaan

      Undeveloped 2.78-acre land with reservoir views in New Canaan.
      531L N Wilton Rd, New Canaan, CT 06840
      View Details
    • $1,575,000
      2.11 Acres

      New Canaan Land For Sale

      2.11 acre lot with meadow and stream near town.
      470 Frogtown Rd, New Canaan, CT 06840
      View Details
    • $2,600,000
      3,082 SF

      Prime New Canaan Office Building

      Vacant, 3,082 SF Office Space, 12 Parking Spaces
      93 Cherry St, New Canaan, CT 06840
      View Details
    • $3,195,000

      New Canaan Townhome For Sale

      Townhome located at 15 Burtis Ave, New Canaan, CT 06840
      15 Burtis Ave, New Canaan, CT 06840
      View Details
    • $1,800,000

      Land For Sale

      Land available for purchase.
      180 Summer St, New Canaan, CT 06840
      View Details

    Similar Nearby for Lease

    • $2,700 /Mo

      Ground-Level Ranch Style Unit

      Conveniently located ranch-style unit with remodeled kitchen and included heat.
      10 Hill St, New Canaan, CT 06840
      View Details
    • $42 SF/Yr
      3,456 SF

      Well-Maintained Office Space Available

      Inviting office space with high ceilings and fantastic lighting.
      21 South Ave, New Canaan, CT 06840
      View Details
    • Contact for pricing
      2,700 SF

      New Canaan Office Space Available

      Office space with private entrance, open layout, and parking.
      21 Grove St, New Canaan, CT 06840
      View Details
    • $40 SF/Yr
      750 SF

      New Canaan Office Condo - 750 SF

      Prime location, single-tenant office condo.
      93 Cherry St, New Canaan, CT 06840
      View Details
    • $6,950 /Mo

      Residential Income Property For Rent

      Multifamily property available for rent in New Canaan, CT.
      8 Husted Ln, New Canaan, CT 06840
      View Details
    • Contact for pricing
      1,300 SF

      Downtown New Canaan Office Suites

      Office suites in central New Canaan location near train station.
      3-11 Forest St, New Canaan, CT 06840
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    261 Elm St
    New Canaan, CT 06840-5310
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.