• Broker Norman Lotstein 2033916822
  • Broker Peter Gray 2033488566 x 145

694-696 West Ave 17,000 SF 100% Leased Retail Building Norwalk, CT 06850 $8,750,000 ($514.71/SF) 6.76% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Great location not far from I-95 and the Route 7 interchange.

EXECUTIVE SUMMARY

This well situated, very stable property with long-term leases at reasonable rents and fully reimbursable expenses (Except Structural), including management is available for sale

ATTACHMENTS

Marketing Brochure/Flyer

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
17,000 SF
Building Class
C
Year Built
1927
Price
$8,750,000
Price Per SF
$514.71
Cap Rate
6.76%
NOI
$591,303
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.38
Lot Size
1.02 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
CBDB - Commercial Business
Parking
60 Spaces (3.53 Spaces per 1,000 SF Leased)
Frontage
  • 174’ on West Ave
  • 161’ on Berkeley Street
174’ on West Ave

AMENITIES

  • Signage

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Retailer
  • 12,000 SF
  • $38.90
  • Triple Net
  • Jun 2028

CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Retailer 12,000 SF $38.90 Triple Net Jun 2028

TRAFFIC

COLLECTION STREET CROSS STREET TRAFFIC VOLUME YEAR Distance
West Avenue Arch St, S 10,146 2025 0.13 mi
Glastonbury Expressway Hubbard St, N 6,803 2022 0.14 mi
West Ave Arch St, S 10,186 2023 0.14 mi
Chapel Street Academy St, W 3,130 2025 0.14 mi
Wall Street Hubbard St, N 6,849 2025 0.15 mi
Belden Avenue Burnell Blvd, SE 8,057 2025 0.18 mi
US Hwy 7 Union PkS, N 60,745 2025 0.18 mi
Belden Ave Burnell Blvd, SE 8,089 2023 0.18 mi
Union Park Pl Byington Pl, SE 4,568 2025 0.20 mi
US Hwy 7 Union Park S, SE 3,178 2025 0.20 mi
Walk Score®
Very Walkable (84)

NEARBY MAJOR RETAILERS

Key Food
Fairfield County Bank
Chase Bank
Goldfish Swim School
The YMCA
Starbucks
Webster Bank
Duchess Restaurant
D1 Sports Training
Orangetheory Fitness

PROPERTY TAXES

Parcel Number NORW-000001-000027-000018 Improvements Assessment $3,181,960
Land Assessment $1,056,380 Total Assessment $4,238,340

PROPERTY TAXES

Parcel Number
NORW-000001-000027-000018
Land Assessment
$1,056,380
Improvements Assessment
$3,181,960
Total Assessment
$4,238,340

MAP

ADDITIONAL PHOTOS

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View Photo Aerial
  • Listing ID: 22589812

  • Date on Market: 3/29/2021

  • Last Updated: 5/30/2025

  • Address: 694-696 West Ave, Norwalk, CT 06850