370 Main Ave Norwalk, CT 06851-1510
Property profile & analytics
370 Main Ave, Norwalk, CT 06851-1510
- Turn key restaurants
- 3,564 SF
- 0.60 lot acres
Property ID
US15-0987778
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.
Location Intelligence
Current Use by Public Records
- Wild Rice / Bar & Pub
Property Details for 370 Main Ave
- Year built
- 1966
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.60 lot acres
- Zone code
- B2
- Property type
- Turn key restaurants
- APN
- NORW M:5 B:22A L:7A
- APU
- NORWM5B22AL7A
Description
This exceptional investment opportunity presents a 3,564 square foot, single-tenant net lease restaurant located at 370 Main Avenue in Norwalk, Connecticut. The property, built in 1966 and fully renovated in 2023, sits on a 0.6-acre lot and boasts 42 on-site parking spaces. Currently occupied by the Wild Rice Restaurant under an NN lease, the property offers a substantial remaining lease term of 6.3 years (commencing March 1, 2023, and expiring February 28, 2031). The asking price is $1,455,000, representing a compelling price per square foot of $408.25 and a 7.01% cap rate based on a Net Operating Income (NOI) of $102,000. The property enjoys excellent visibility and high traffic counts on Main Avenue, with an estimated 18,700 cars passing daily. Zoned CD-3C, this property offers a secure, passive income stream with a strong tenant in a desirable location. The building is a single-story structure with one unit. This is a rare opportunity to acquire a well-positioned, net-leased restaurant property in a thriving Connecticut market.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $360,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $728,000
- AI Estimate
- $523,000
Market price range: $557k - $1.46MMarket price range: $371k - $820k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $860,000
- AUTO REPAIR, GARAGE
- $835,000
- OFFICE BUILDING
- $770,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Norwalk
- County
- Fairfield
- State
- Connecticut
- Longitude
- -73.4256
- Latitude
- 41.1397
- 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
$28,256
$872,380
$250,640
$1,123,020
-
$0.00
$0.00
$0.00
