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Property profile & analytics
OFF-MARKET
Estimated value
$4,705,000
Retail space
59 Connecticut Ave Norwalk, CT 06850-3528
Entity Owned
32-yr Hold
Free & Clear
Property ID
US15-1287840
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1994
Construction
STEEL FRAME
Total area
30,714 SF
Lot
2.82 ac (122,926 SF)
Zoning code
B1
APN
NORW M:2 B:14 L:4
UPID
US15-1287840
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
-
Bob's Discount Furniture and Mattress Store Furniture & Home Goods Home Decor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.28M
Blend (final)
Blend
$4.71M
Owner & transaction history
Toys R Us INC · 32 yrs held
Toys R Us INC
since 1994
3 recorded transactions
Zoning & alternative use
B1 · Norwalk, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.4M
+29.9%
Auto repair, garage
$7.2M
+25.7%
Office building
$6.7M
+17.0%
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
RETAIL STORES
$5,710,000
Current use
COMMERCIAL (GENERAL)
$7,415,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,175,000
Change: +26% · Conversion: Difficult
OFFICE BUILDING
$6,680,000
Change: +17% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$4,865,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$4.71M
Range $4.23M – $5.18M · ±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
$153 / 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
$152,774
Tax year 2023
Assessed value
$6,090,000
Assessed 2023
Previous assessed
$6,090,000
+0.0% YoY
Effective rate
2.51%
On assessed value
Assessed land
$4,072,700
Assessed improvement
$2,017,300
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1994
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
1
Bathrooms
2
Total area
30,714 SF
Lot
2.82 ac (122,926 SF)
Zoning code
B1
APN
NORW M:2 B:14 L:4
UPID
US15-1287840
Jurisdiction
NORWALK
Zoning & alternative use
B1 · Norwalk, CTZoning B1 · permitted uses
B1 · Norwalk, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$5.7M
COMMERCIAL (GENERAL)
Est. value
$7.4M
AUTO REPAIR, GARAGE
Est. value
$7.2M
OFFICE BUILDING
Est. value
$6.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.9M
RETAIL STORES Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1994
Construction
STEEL FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
1
Bathrooms
2
Lot
2.82 ac
Current owner
From public records · entity-resolved
Toys R Us INC
Entity
Free & Clear · 32 yrs held
Mailing address
7978 COOPER CRK BLVD, UNIVERSITY PARK, FL 34201-2139
Ownership since
1994
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 4, 2009
—
Toys R Us Property Co LLC
—
Deed Of Trust
related
$725,000 · Bank Of Ny Mellon
Nov 24, 2008
—
Connecticut Center LP
—
Deed Of Trust
related
$890,000 · Ffld County Bank Corp
Jul 8, 1994
$2,500,000
Toys R Us INC
Conn Center Assoc
Grant 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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