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Property profile & analytics
OFF-MARKET
Estimated value
$2,995,000
Office buildings
698 Ww Ave Norwalk, CT 06850-3379
Entity Owned
18-yr Hold
~
Est. High Equity
Property ID
US15-0460315
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,068 SF
Lot
0.32 ac (13,939 SF)
Zoning code
CBDB
APN
NORW M:1 B:26 L:23
UPID
US15-0460315
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
-
Alixandra Treviso Physician
-
SoundBodyX Gym & Fitness Center
-
Christopher Antonacci Physician
-
Rosen Marc L MD Physician Medical Clinic
-
Dr. Angela Ryan Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.39M
Blend (final)
Blend
$3.00M
Owner & transaction history
Riverwest LLC · 18 yrs held
Riverwest LLC
since 2007
7 recorded transactions
Zoning & alternative use
CBDB · Norwalk, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.4M
+18.2%
Commercial (general)
$3.2M
+11.1%
Auto repair, garage
$3.1M
+7.5%
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
$2,840,000
Current use
RESTAURANT
$3,355,000
Change: +18% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,155,000
Change: +11% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,055,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$2,430,000
Change: -15% · Conversion: Moderate
Blend value · Realmo final
$3.00M
Range $2.70M – $3.29M · ±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
$229 / 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
$44,567
Tax year 2023
Assessed value
$1,776,560
Assessed 2023
Previous assessed
$1,776,560
+0.0% YoY
Effective rate
2.51%
On assessed value
Assessed land
$447,560
Assessed improvement
$1,329,000
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
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Units
2
Bathrooms
2
Total area
13,068 SF
Lot
0.32 ac (13,939 SF)
Zoning code
CBDB
APN
NORW M:1 B:26 L:23
UPID
US15-0460315
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
$2.8M
RESTAURANT
Est. value
$3.4M
COMMERCIAL (GENERAL)
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RETAIL STORES
Est. value
$2.4M
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
1950
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Units
2
Bathrooms
2
Lot
0.32 ac
Current owner
From public records · entity-resolved
Riverwest LLC
Entity
Mailing address
698 WW AVE, NORWALK, CT 06850-3379
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2007
—
Riverwest LLC
—
Deed Of Trust
related
$6,350,000 · Zions First National Bank
Oct 2, 1997
—
Riverwest LLC
—
Deed Of Trust
related
$11,200,000 · Worth Funding INC
Mar 10, 1997
—
Riverview West LLC
—
Deed Of Trust
related
$600,000 · Norwalk Savings Society
Aug 19, 1996
—
Riverwest LLC
—
Deed Of Trust
related
$400,000 · Centerbank
Oct 12, 1994
—
Riverwest LLC
—
Deed Of Trust
related
$4,500,000 · Centerbank
Mar 26, 1993
—
Stanley Seligson
—
Deed Of Trust
related
$936,737 · Shawmut Mortgage
Dec 17, 1991
—
Stanley Seligson
—
Deed Of Trust
related
$1,832,000 · Union Trust Co
Mar 11, 1991
—
Stanley Seligson
—
Deed Of Trust
related
$150,000 · Ct Natl Bk
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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