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    Property profile & analytics

    70 S Main St, Unit F Norwalk, CT 06854

    • Commercial real estate
    • 13,002 SF
    • 0.26 lot acres
    For Lease
    View listing
    $1,650 /Mo
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0579792
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Metro by T-Mobile / Telecommunications Service
    • Yeimi Contreras Romano - State Farm Insurance Agent / Insurance Agency
    • Oksana Tanasiv / Art Gallery / Art Center
    • MoneyGram / Bank / Credit Union
    • naranjal LLC / Bank / Credit Union

    Property Details for 70 S Main St

    Year built
    1890
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.26 lot acres
    Property size
    13,002 SF
    Zone code
    NB
    Property type
    Commercial real estate
    APN
    NORW M:2 B:58 L:24
    APU
    NORWM2B58L24

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,725,000
      Market price range: $666k - $2.27M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $3,140,000
      Current use
      AUTO REPAIR, GARAGE
      $3,040,000
      Change: -3% Conversion: Difficult
      OFFICE BUILDING
      $2,825,000
      Change: -10% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Norwalk
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.4187
    Latitude
    41.0967
    CBSA code
    14860
    CBSA name
    BRIDGEPORT-STAMFORD-NORWALK, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $54,301
    $272,170
    $1,892,410
    $2,164,580
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      11,880 SF

      9-15 Washington St

      Commercial real estate • 11,880 SF
      9-15 Washington St, Norwalk, CT 06854
      View Details
    • Value Estimation
      $650,000
      3.21 Acres

      789 Connecticut Ave

      COMMERCIAL (GENERAL) • 3.21 Acres
      789 Connecticut Ave, Norwalk, CT 06854-1615
      View Details
    • Value Estimation
      $1,525,000
      26,420 SF

      14-16 Main St

      SHOW ROOM, WAREHOUSE • 26,420 SF
      14-16 Main St, Norwalk, CT 06854
      View Details
    • Value Estimation
      $8,150,000
      94,564 SF

      587th Connecticut Ave

      COMMERCIAL (GENERAL) • 94,564 SF
      587th Connecticut Ave, Norwalk, CT 06854-1711
      View Details
    • Value Estimation
      $4,295,000
      24,704 SF

      11 Chestnut St

      SHOW ROOM, WAREHOUSE • 24,704 SF
      11 Chestnut St, Norwalk, CT 06854-2911
      View Details
    • Value Estimation by Request
      4,945 SF

      550 Connecticut Ave

      SHOW ROOM, WAREHOUSE • 4,945 SF
      550 Connecticut Ave, Norwalk, CT 06854-1743
      View Details

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      High-traffic location, owner-user opportunity.
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      Waterfront Land
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    • $795,501
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      SoNo Retail Investment Opportunity

      Turn-key retail space with long-term tenant in prime location.
      83 Washington St, Norwalk, CT 06854
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    Similar Nearby for Lease

    • Contact for pricing

      Norwalk Commercial District Office Space

      Office space in a vibrant, landmarked commercial district.
      99 Washington St, Norwalk, CT 06854
      View Details
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      2,100 SF

      Salon/Spa Ready Retail Space

      Retail space ideal for salon, spa, or beauty/wellness concepts.
      108-112 Washington St, Norwalk, CT 06854
      View Details
    • Contact for pricing
      1,675 SF

      Retail Space with Commercial Kitchen

      Retail space featuring a commercial kitchen with upgraded systems.
      138 Washington St, Norwalk, CT 06854
      View Details
    • $3,100 /Mo

      Remodeled Apartment with New Kitchen

      Tastefully remodeled apartment with new kitchen and bathrooms for rent.
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      View Details
    • Contact for pricing
      5,368 SF

      Retail Space in Historic District

      Retail space in a landmarked community with high foot traffic.
      126 Washington St, Norwalk, CT 06854
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    70 S Main St, Unit F
    Norwalk, CT 06854
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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