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588 Main Avenue, Norwalk, CT 06851 Fully Leased Retail Strip Center for Sale at $2,900,000

$2,900,000 $505.93 / SF
588 Main Avenue, Norwalk, CT 06851

For Sale Details

$2,900,000
$505.93 / SF
  • Property Type Retail / Strip Center
  • Sale Type Investment
  • Status Closed
  • Created 10/21/21
  • Updated 09/02/22
  • Closed On 09/01/22
  • Closing Price $2,750,000

About 588 Main Avenue, Norwalk, CT 06851

Angel Commercial, LLC, is pleased to announce that the retail strip center located at 588 Main Avenue in Norwalk, CT, is available for sale at $2.9 million for the first time in many decades of ownership. The 5,732 SF retail strip center is fully occupied by two long-term national tenants, Subway and Mattress Firm. Subway has annual rent increases & both tenants have renewal rights. The projected 2021 NOI is $158,661 Triple Net.

The Strip Center has excellent visibility on Route 7 and is within close proximity to 2 million square feet of office and medical space. It is easily accessible from Norwalk and Wilton.

588 Main Avenue is conveniently located half a mile from the Merritt Parkway (Exit 40). It is within walking distance to banks, shopping, hotels, medical offices, and restaurants, including Starbucks, Walmart, Panera Bread, LA Fitness, Bank of America, and the Hilton Garden Inn. The property is in a high-density location, surrounded by newly constructed apartment buildings and near the CT Department of Motor Vehicles.

For more information, please contact Brett A.​ Sherman, CCIM, Senior Vice President at Angel Commercial, LLC, at (203) 335-6600 Ext.​ 22.​

Building Details

  • Tenancy: Multitenant
  • Building Area (SF): 5,732
  • Year Built: 1967
  • Percent Finished: 100%
  • Number of Stories: 1
  • Number of Buildings: 1

Land Details

  • Parking Count: 14
  • Acreage: 0.37
  • Sewage System: Public Sewer
  • Water System: Public Water

Financial Characteristics

  • Net Operating Income: $158,661
  • Financials Year: 2021
  • Occupancy Percent: 100%

Documents for 588 Main Avenue, Norwalk, CT 06851

FACT SHEET - 588 Main Avenue, Norwalk, CT 06851.pdf OFFERING BROCHURE - 588 Main Avenue, Norwalk, CT.pdf

The Retail / Strip Center property at 588 Main Avenue, Norwalk, CT 06851 is currently available for sale. Contact Brett A. Sherman from Angel Commercial, LLC for more information.