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    31 Franklin St Westport, CT 06880
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    31 Franklin St, Westport, CT 06880

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    • Investment properties
    • 0.20 lot acres
    For Sale
    $1,850,000
    View Listing →
    Historic Saugatuck Mixed-Use Property For Sale
    $1,850,000
    4,196 SF

    Historic Saugatuck Mixed-Use Property

    Transformative site in historic Saugatuck, near train, I-95.

    31 Franklin Street, Westport, CT 6880
    View Listing
    Property ID
    US15-0522749
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Site Landscaping / Landscaping / General Contractor

    Property Details for 31 Franklin St

    Lot size
    0.20 lot acres
    Zone code
    RORD2
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    WPOR M:B06 L:091-000
    APU
    WPORMB06L091000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Feb 8, 2023 — 31-35 Franklin St Prop Ow — Deed · related $1.2M · 31 Franklin St LLC
    Jan 28, 2016 $522,500 31 Franklin St LLC Dauria Thomas Trust Trustees Deed —
    Apr 5, 2012 $1 Dauria T Lynn Romano Ft Grant Deed —
    Sep 2, 2009 $1 Thomas J Romano Romano,thomas J Grant Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Westport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.3721
    Latitude
    41.1217
    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
    $13,212
    $354,000
    $366,000
    $720,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $625,000
      39.00 Acres

      174 Long Lots Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      174 Long Lots Rd, Westport, CT 06880-4016
      View Details
    • Value Estimation by Request
      0.81 Acres

      800 Post E Rd

      OFFICE/RESIDENTIAL (MIXED USE)
      800 Post E Rd, Westport, CT 06880
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    • Value Estimation by Request
      1,598 SF

      471 Riverside Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      471 Riverside Ave, Westport, CT 06880-5703
      View Details
    • Value Estimation by Request
      0.13 Acres

      34 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE)
      34 Franklin St, Westport, CT 06880-5941
      View Details
    • Value Estimation by Request
      1.66 Acres

      7 Sylvan Ln

      OFFICE/RESIDENTIAL (MIXED USE)
      7 Sylvan Ln, Westport, CT 06880-4612
      View Details
    • Value Estimation by Request
      0.30 Acres

      3 Treadwell Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      3 Treadwell Ave, Westport, CT 06880-4726
      View Details

    Similar Nearby for Sale

    • $1,850,000
      4,196 SF

      Historic Saugatuck Mixed-Use Property

      Transformative site in historic Saugatuck, near train, I-95.
      31 Franklin St, Westport, CT 06880
      View Details
    • $1,500,000

      Westport Mixed-Use Building Opportunity

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      Restored Williamsburg Style Building

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      Westport Main Street Retail Space

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    Similar Nearby for Lease

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      3,379 SF

      Downtown Westport Mixed-Use Retail Space

      Retail space in a historically significant mixed-use development.
      59 Post Rd E, Westport, CT 06880
      View Details
    • Contact for pricing

      Downtown Westport Creative Office Space

      Unique 1,454 SF office space in downtown Westport.
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    • $28 SF/Yr
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      Downtown Westport Executive Office Suite

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      2,718 SF

      Westport Office Space: Main Street Charm

      Prestigious Westport office, 800 sq ft available.
      315 Main St, Westport, CT 06880
      View Details
    • $2,300 /Mo
      2,775 SF

      Westport Office Space For Rent

      Bright, spacious office with private entrance and dedicated parking.
      6 East Main St, Westport, CT 06880
      View Details
    • Contact for pricing
      3,566 SF

      Retail Space on Post Road

      Retail space available for rent on highly trafficked Post Road.
      1460 Post Rd E, Westport, CT 06880
      View Details
    View Listing
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    Westport, CT 06880
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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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    31 Franklin St, Westport, CT, 06880
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