Log In/Sign Up
Your email has been sent.
525 Connecticut Ave 26,469 SF 4-Star Retail Building Norwalk, CT 06854 $17,636,571 ($666.31/SF) 5.25% Cap Rate
Investment Highlights
- Corporate-guaranteed net lease with 11 years of term remaining under an absolute NNN structure.
- Situated in Fairfield County’s dominant retail corridor with robust co-tenancy from national brands.
- Significant 2025 tenant investment including parking lot replacement and veterinary hospital addition.
- Prominent frontage along US-1 with direct connectivity to Interstate 95.
- High-traffic location with over 25,000 vehicles daily and proximity to heavily traveled highway interchanges.
- Surrounded by an affluent consumer demographic ensuring sustained retail demand.
Executive Summary
This offering presents an exceptional opportunity to acquire a corporate-guaranteed, single-tenant PetSmart property in Norwalk, Connecticut, with 11 years of lease term remaining under a true NNN structure. The asset is priced at $17,636,571 and delivers a stable cash flow supported by an investment-grade tenant with strong operating performance. The property benefits from a long-established presence since 2002 and recent capital investment of $463,000 for tenant improvements and parking enhancements. PetSmart further elevated the location’s revenue base with the addition of a veterinary hospital on-site, adding a complementary high-margin service to its retail offering.
Strategically positioned along US-1, the property experiences traffic counts exceeding 25,000 vehicles per day and provides immediate connectivity to I-95, one of the busiest corridors in the region with over 200,000 vehicles per day. This prime location lies within Fairfield County’s primary retail corridor, an affluent area with household incomes surpassing $164,000 and consistent growth dynamics. Co-tenancy in the immediate trade area includes major national anchors such as Costco, Walmart, Target, Home Depot, and Dick’s Sporting Goods, reinforcing strong consumer draw and retail synergy. As the largest specialty pet retailer in North America, PetSmart operates more than 1,650 stores and enjoys robust market positioning.
This investment offers durable income, minimal landlord responsibilities under an NNN lease, and long-term upside within a thriving and affluent market.
Strategically positioned along US-1, the property experiences traffic counts exceeding 25,000 vehicles per day and provides immediate connectivity to I-95, one of the busiest corridors in the region with over 200,000 vehicles per day. This prime location lies within Fairfield County’s primary retail corridor, an affluent area with household incomes surpassing $164,000 and consistent growth dynamics. Co-tenancy in the immediate trade area includes major national anchors such as Costco, Walmart, Target, Home Depot, and Dick’s Sporting Goods, reinforcing strong consumer draw and retail synergy. As the largest specialty pet retailer in North America, PetSmart operates more than 1,650 stores and enjoys robust market positioning.
This investment offers durable income, minimal landlord responsibilities under an NNN lease, and long-term upside within a thriving and affluent market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
26,469 SF
Building Class
A
LoopNet Rating
4 Star
Year Built/Renovated
1994/1996
Price
$17,636,571
Price Per SF
$666.31
Cap Rate
5.25%
NOI
$925,920
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.29
Lot Size
2.07 AC
Zoning
B1 - Business No. 1 Zone; Allows most commercial uses including Retail, Office, Banks, Medical Office and Self Storage
Parking
60 Spaces (2.49 Spaces per 1,000 SF Leased)
Frontage
202’ on Connecticut Ave
Amenities
- Pylon Sign
- Signage
- Wheelchair Accessible
- Accent Lighting
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | NORW-000005-000073A-000003 | Improvements Assessment | $2,622,530 |
| Land Assessment | $3,206,480 | Total Assessment | $5,829,010 |
Property Taxes
Parcel Number
NORW-000005-000073A-000003
Land Assessment
$3,206,480
Improvements Assessment
$2,622,530
Total Assessment
$5,829,010
1 of 9
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
