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Property profile & analytics
OFF-MARKET
Estimated value
$1,815,000
Office buildings
49 Locust Ave New Canaan, CT 06840-4764
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US15-0905422
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
19,983 SF
Lot
0.58 ac (25,265 SF)
Zoning code
BUSC
APN
NCAN M:000T B:073 L:00723
UPID
US15-0905422
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
-
Fortune Character LLC Advertising Agency Marketing & Advertising
-
Jodi Costenbader, PhD LPC Psychotherapist
-
First Candle Charitable Organization Social Service Agency
-
Fenwick Insurance Insurance Agency
-
Fenwick Investments Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.00M
Blend (final)
Blend
$1.82M
Owner & transaction history
Two Corners LLC · 1 yrs held
Two Corners LLC
since 2025
3 recorded transactions
Zoning & alternative use
BUSC · New Canaan, 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 New Canaan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Canaan 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
Blend value · Realmo final
$1.82M
Range $1.63M – $2.00M · ±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
$91 / 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
$68,443
Tax year 2023
Assessed value
$3,613,680
Assessed 2023
Previous assessed
$3,613,680
+0.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$1,109,780
Assessed improvement
$2,503,900
Applied tax rate
127.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
15
Total area
19,983 SF
Lot
0.58 ac (25,265 SF)
Zoning code
BUSC
APN
NCAN M:000T B:073 L:00723
UPID
US15-0905422
Jurisdiction
NEW CANAAN
Zoning & alternative use
BUSC · New Canaan, CT
Zoning BUSC · permitted uses
BUSC · New Canaan, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Canaan. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
15
Lot
0.58 ac
Current owner
From public records · entity-resolved
Two Corners LLC
Entity
Mailing address
1010 HOPE ST, STAMFORD, CT 06907-2199
Mailing matches property
Yes
Owner-occupied
Yes
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2025
—
Two Corners LLC
—
Deed
related
$3,000,000 · First County Bank
Jul 2, 2025
$8,700,000
Two Corners LLC
Fjl Holdings LLC
Warranty Deed
$2,430,000 · Fjl Holdings LLC
May 21, 2015
$6,751,781
Fjl Holdings LLC
Locust Realty Co LLC
Warranty Deed
$7,000,000 · Bankwell Bank
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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