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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    93 Cherry St, Unit H2 New Canaan, CT 06840

    • Office Properties & Spaces
    • 826 SF
    OFF-MARKET
    Value Estimations
    $185,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0960076
    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

    • Brown Harris Stevens / Real Estate Agency
    • Dharma Drum Mountain Buddhist Association Fairfield County Branch / Association / Organization
    • Century Products LLC / Software Company
    • Contek International / Software Company
    • Nielsen & Co / Insurance Agency

    Property Details for 93 Cherry St

    Year built
    1976
    Property size
    826 SF
    Zone code
    700
    Property type
    Office Properties & Spaces
    APN
    NCAN M:000T B:076 L:658 U:H2
    APU
    NCANM000TB076L658UH2

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $175,000
      Market price range: $82.5k - $213k
      AI Estimate
      $163,000
      Market price range: $64.8k - $209k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $145,000
      Current use
      AUTO REPAIR, GARAGE
      $195,000
      Change: +34% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $190,000
      Change: +34% Conversion: Easy
      RETAIL STORES
      $155,000
      Change: +7% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    New Canaan
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.4909
    Latitude
    41.1462
    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
    $6,856
    $0.00
    $361,970
    $361,970
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,200 SF

      80 Main St

      Office Properties & Spaces • 2,200 SF
      80 Main St, New Canaan, CT 06840
      View Details
    • Value Estimation
      $340,000
      2,821 SF

      191 Main St, Unit 5

      CONDOMINIUM OFFICES • 2,821 SF
      191 Main St, New Canaan, CT 06840-5641
      View Details
    • Value Estimation
      $495,000
      896 SF

      45 Pne St

      CONDOMINIUM OFFICES • 896 SF
      45 Pne St, New Canaan, CT 06840-5428
      View Details
    • Value Estimation
      $220,000
      1,917 SF

      22 Ee Ave

      CONDOMINIUM OFFICES • 1,917 SF
      22 Ee Ave, New Canaan, CT 06840-5500
      View Details
    • Value Estimation
      $195,000
      1,229 SF

      22 Ee Ave, Unit 13

      CONDOMINIUM OFFICES • 1,229 SF
      22 Ee Ave, New Canaan, CT 06840-5500
      View Details
    • Value Estimation by Request
      1,078 SF

      21 Locust Ave Ste 1c

      CONDOMINIUM OFFICES • 1,078 SF
      21 Locust Ave Ste 1c, New Canaan, CT 06840-4735
      View Details

    Similar Nearby for Sale

    • $2,600,000
      3,082 SF

      Prime New Canaan Office Building

      Vacant, 3,082 SF Office Space, 12 Parking Spaces
      93 Cherry St, New Canaan, CT 06840
      View Details
    • $3,600,000
      10,298 SF

      72 Park St: Prime Mixed-Use Investment

      10,298 SF Office/Retail in New Canaan, CT
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    • Contact for pricing
      33,198 SF

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      Three contiguous properties totaling 1.49 acres near Metro-North.
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    • $600,000

      New Canaan Office Condominium

      Second floor office space in prime New Canaan location.
      39 Pine St, New Canaan, CT 06840
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    • $1,800,000

      Land For Sale

      Land available for purchase.
      180 Summer St, New Canaan, CT 06840
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    • $3,195,000

      New Canaan Townhome For Sale

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      15 Burtis Ave, New Canaan, CT 06840
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    Similar Nearby for Lease

    • $40 SF/Yr
      750 SF

      New Canaan Office Condo - 750 SF

      Prime location, single-tenant office condo.
      93 Cherry St, New Canaan, CT 06840
      View Details
    • $35 SF/Yr
      19,400 SF

      Prime New Canaan Office Space

      Traditional Office Suites Available Now
      49-51 Locust Ave, New Canaan, CT 06840
      View Details
    • $35 SF/Yr
      12,600 SF

      Prime New Canaan Executive Office Space

      1,150 SF Executive Suite, Walk to Train
      39 Locust Ave, New Canaan, CT 06840
      View Details
    • Contact for pricing
      2,200 SF

      Downtown New Canaan Office/Retail Space

      Prime location, two spaces available, immediate occupancy.
      80 Main St, New Canaan, CT 06840
      View Details
    • $42 SF/Yr
      3,456 SF

      Well-Maintained Office Space Available

      Inviting office space with high ceilings and fantastic lighting.
      21 South Ave, New Canaan, CT 06840
      View Details
    • Contact for pricing
      2,700 SF

      New Canaan Office Space Available

      Office space with private entrance, open layout, and parking.
      21 Grove St, New Canaan, CT 06840
      View Details
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    93 Cherry St, Unit H2
    New Canaan, CT 06840
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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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