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Property profile & analytics
OFF-MARKET
Estimated value
$15,955,000
Office buildings
40 Cross St Norwalk, CT 06851-4647
Individually Owned
8-yr Hold
Free & Clear
Property ID
US15-0475028
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1988
Construction
STEEL FRAME
Total area
68,304 SF
Lot
4.7 ac (204,732 SF)
Zoning code
CBDB
APN
NORW M:1 B:43 L:55
UPID
US15-0475028
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
-
Avery Center for Obstetrics and Gynecology Medical Clinic
-
St. Vincent's Medical Center Hospital
-
St. Vincent's Regional Heart & Vascular Center-Norwalk Hospital
-
Greenwich Hospital Blood Draw Medical Laboratory
-
Westmed Medical Group | Norwalk Doctor Medical Group
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.59M
Blend (final)
Blend
$15.96M
Owner & transaction history
Cpi Ahp Cross St Mob Ownr · 8 yrs held
Cpi Ahp Cross St Mob Ownr
since 2017
3 recorded transactions
Zoning & alternative use
CBDB · Norwalk, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$17.5M
+18.6%
Commercial (general)
$16.5M
+11.5%
Auto repair, garage
$16.0M
+7.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$14,795,000
Current use
RESTAURANT
$17,545,000
Change: +19% · Conversion: Moderate
COMMERCIAL (GENERAL)
$16,495,000
Change: +11% · Conversion: Easy
AUTO REPAIR, GARAGE
$15,960,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$12,695,000
Change: -14% · Conversion: Moderate
Blend value · Realmo final
$15.96M
Range $14.36M – $17.55M · ±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
$234 / 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
$384,634
Tax year 2023
Assessed value
$15,332,600
Assessed 2023
Previous assessed
$15,332,600
+0.0% YoY
Effective rate
2.51%
On assessed value
Assessed land
$3,230,480
Assessed improvement
$12,102,120
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
4
Units
13
Bathrooms
53
Total area
68,304 SF
Lot
4.7 ac (204,732 SF)
Zoning code
CBDB
APN
NORW M:1 B:43 L:55
UPID
US15-0475028
Jurisdiction
NORWALK
Zoning & alternative use
CBDB · Norwalk, CT
Zoning CBDB · permitted uses
CBDB · 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
OFFICE BUILDING Current
Est. value
$14.8M
RESTAURANT
Est. value
$17.5M
COMMERCIAL (GENERAL)
Est. value
$16.5M
AUTO REPAIR, GARAGE
Est. value
$16.0M
RETAIL STORES
Est. value
$12.7M
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1988
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
4
Buildings
1
Units
13
Bathrooms
53
Lot
4.7 ac
Current owner
From public records · entity-resolved
Cpi Ahp Cross St Mob Ownr
Individual
Free & Clear · 8 yrs held
Mailing address
425 7TH ST NE, CHARLOTTESVILLE, VA 22902-4723
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2019
—
Cpiahp Cross St Mob Owner
—
Deed
related
$1 · Capital One Bank NA
Sep 8, 2017
—
Cpi Ahp Cross St Mob Ownr
Mcp Medical LLC
Warranty Deed
—
Mar 18, 2013
$1
Mcp Medical LLC
Chfa
Warranty Deed
—
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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