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40 Richards Ave, Norwalk, CT 06854
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Property summary
AI-generated overview
40 Richards Avenue in Norwalk, Connecticut, offers a prime opportunity for businesses seeking executive office space. This seven-story building boasts a total of 150,000 square feet, providing ample room for various-sized companies. The property is available for multiple tenancies, with spaces ranging from a minimum of 650 square feet to a maximum contiguous space of 19,000 square feet, offering flexibility to accommodate diverse business needs. Currently, four spaces are available. The building's convenient location at 40 Richards Ave, Norwalk, CT 06854, ensures easy access for employees and clients alike. Ample parking is provided with 403 spaces available on-site. This executive office building presents a sophisticated and efficient workspace in a desirable Connecticut location. The building's modern design and convenient amenities make it an ideal choice for businesses seeking a prestigious and functional office environment. Interested parties are encouraged to inquire about available space and lease terms.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
STEEL FRAME
Total area
141,085 SF
Lot
1.39 ac (60,548 SF)
Zoning code
B1
APN
NORW M:5 B:72 L:35
UPID
US15-0296728
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Home Appliance Store
-
Electrical Service General Contractor
-
Loan Service Bank
-
Law Firm
-
Law Firm
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.68M
Owner & transaction history
since 2019
7 recorded transactions
Zoning & alternative use
B1 · Norwalk, CT
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.68M
Value range
$3.31M – $4.04M
±10% around blend
Estimated value / SF
$26 / SF
Confidence
Property data
100
Market benchmarks
67
Comparable evidence
60
$3.31M
blend $3.68M
$4.04M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
141,085 SF
Lot area
1.39 ac
Year built
1985
Stories
10
APN
NORW M:5 B:72 L:35
Zoning
B1
Assessed value
$11,462,500
Annual tax
$288,408
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.68M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 35 sales
$217
-88%
County 284 sales
$174
-85%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $26/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Not available
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: replacement-cost inputs are not on file.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$11.46M
Move the market yield to see immediate price impact.
Value / SF
$81
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$722k
$14.44M
$10.32M
$8.02M
$802k
$16.05M
$11.46M
$8.92M
$883k
$17.65M
$12.61M
$9.81M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$288,408
Tax year 2023
Assessed value
$11,462,500
Assessed 2023
Previous assessed
$11,462,500
+0.0% YoY
Effective rate
2.52%
On assessed value
Assessed land
$2,166,100
Assessed improvement
$9,296,400
Applied tax rate
129.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
For Sale
Year built
1985
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
10
Units
31
Bathrooms
12
Total area
141,085 SF
Lot
1.39 ac (60,548 SF)
Zoning code
B1
APN
NORW M:5 B:72 L:35
UPID
US15-0296728
Jurisdiction
NORWALK
Zoning & alternative use
B1 · Norwalk, CTZoning B1 · permitted uses
B1 · Norwalk, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1985
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
10
Buildings
1
Units
31
Bathrooms
12
Lot
1.39 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
B1
Jurisdiction
Norwalk, CT
Recorded code
B1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for B1 in Norwalk, CT.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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