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Property profile & analytics
OFF-MARKET
Estimated value
$1,400,000
Super regional malls
384 Westport Ave 404 Norwalk, CT 06851-4423
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US15-0566939
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1957
Construction
STEEL FRAME
Total area
39,501 SF
Lot
2.39 ac (103,959 SF)
Zoning code
B2
APN
NORW M:5 B:8 L:1
UPID
US15-0566939
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
T-Mobile Authorized Retailer Mobile Phone Store Electronics & Wireless Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$955k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.85M
Blend (final)
Blend
$1.40M
Owner & transaction history
390 Westport Avenue LLC
390 Westport Avenue LLC
since 2025
6 recorded transactions
Zoning & alternative use
B2 · Norwalk, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Norwalk submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Norwalk submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$955,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,505,000
Current use
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$35 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$247,694
Tax year 2023
Assessed value
$9,844,370
Assessed 2023
Previous assessed
$9,844,370
+0.0% YoY
Effective rate
2.52%
On assessed value
Assessed land
$3,309,920
Assessed improvement
$6,534,450
Applied tax rate
129.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1957
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
8
Bathrooms
9
Total area
39,501 SF
Lot
2.39 ac (103,959 SF)
Zoning code
B2
APN
NORW M:5 B:8 L:1
UPID
US15-0566939
Jurisdiction
NORWALK
Zoning & alternative use
B2 · Norwalk, CT
Zoning B2 · permitted uses
B2 · Norwalk, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Norwalk. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1957
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
8
Bathrooms
9
Lot
2.39 ac
Current owner
From public records · entity-resolved
390 Westport Avenue LLC
Entity
Mailing address
1 SMITH STB#101, NORWALK, CT 06851-4836
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2025
—
390 Westport Avenue LLC
—
Deed
related
$12,415,000 · The Washington Trust Co Of Westerly
Apr 13, 2012
—
390 Westport Avenue LLC
—
Deed Of Trust
related
$2,250,000 · Liberty Bank
Oct 10, 2001
—
390 Westport Ave LLC
—
Deed Of Trust
related
$4,700,000 · Liberty Bank
Dec 22, 1999
—
Mfd Family LP
—
Deed Of Trust
related
$2,300,000 · Liberty Bank
Jul 30, 1996
—
Westport Rd Assoc 390
—
Deed Of Trust
related
$30,000 · Alfred Hamann
Feb 5, 1996
—
Westport Rd Assoc 390
—
Deed Of Trust
related
$75,000 · Stephen J Knotra
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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