SoNo Harbor Landing

50 Water Street, Norwalk, CT 06854

  • For Sale 50% Equity Interest
  • Property Type Multi-Family
  • Property Size 25,434 SF
  • Units 15
  • Lot Size 0.58 Acre
  • Additional Rent Contact for pricing
  • Year Built 1900
  • Year Renovated 1987
  • Date Updated Dec 10, 2024
Norwalk, located in the south-central region of Fairfield County, is considered one of the county’s premier business and residential communities. Norwalk offers a unique blend of housing, a strong corporate presence, excellent amenities, superior access to transportation, cultural attractions, and varied educational institutions. Norwalk has been a major beneficiary of migration from Westchester County, New York and Southern Fairfield County by both businesses and residents seeking a more affordable alternative without sacrificing lifestyle. This migration trend from larger cities to suburbs has accelerated rapidly over the last few years. This increase in demand for housing has resulted in Norwalk having one of the highest year-over-year increases in apartment rental rates in the state of Connecticut. The City of Norwalk has experienced a decade long revitalization that is continuing to shape the city to this day. Over the past 10 years Norwalk has seen construction of several large retail centers. The Waypointe District is a recent $450 million development project in Norwalk with 200,000 SF of commercial space and a 700,000 SF, $285 million Luxury Class A+ mall: the SoNo Collection anchored by Bloomingdale’s and Nordstrom.Northeast Private Client Group is pleased to present the exclusive opportunity to purchase a SoNo Harbor Landing located at 50 Water Street in Norwalk, CT. SoNo Harbor Landing is a premier asset in an unparalleled location right on the Norwalk River in South Norwalk. The 25,434 SF mixed-use property consists of 10,734 SF of office space, 5,396 SF of ground floor retail, six (6) 1-bedroom/1.5-bathroom loft apartments, nine (9) boat slips, and public metered parking. The property consists of nine (9) retail/office units, nine (9) boat slips, and six (6) 1-bedroom/1.5-bathroom apartments. Currently, four of the apartments have been combined to create one 4-bedroom unit. Three of these apartments are on a long-term lease until 2032. One apartment is on a corporate lease for 1 year. This was done at the expense of the tenant, who is contractually responsible to pay for the rehabilitation costs once the lease expires. The property features off-street parking for residential/retail tenants and generates additional parking income for public use through a contract with “Premium Park”. This is an opportunity to own a turn-key asset with upside potential in a premier location. Within minutes of the South Norwalk Train Station and I-95 corridor, South Norwalk is considered one of the premiere dining, entertainment, and nightlife hubs in the state of Connecticut. 50 Water Street is ideally located on the corner of Washington Street and Water Street directly on the Norwalk River. Ways to add value include leasing the vacant office space and implementing a luxury apartment renovation program in order to achieve rental premiums. Additionally, there is potential for future development which includes adding additional multifamily units.
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Highlights

  • Diverse Rent Roll
  • Mix of Apartments, Office, Retail, Public Parking, and Marina Income
  • Premier Location
  • In the Heart of South Norwalk on the Norwalk River
  • Arguably Most Desirable Piece of Real Estate in South Norwalk
  • Top Restaurant, Entertainment and Nightlife Hub in the State of CT
  • Walk to Metro North Railroad Station
  • Potential Future Development
  • WSDD Zoning Allows for Flexible Future Uses
  • Potential to Add Additional Multifamily Units
  • Turn-Key Asset
  • Significant Recent Cap Ex Investment
  • Over $400,000 in Investment Since 2021

Contacts

broker

Northeast Private Client Group

Location

Getting Around

  • Walk Score ®

    91/100 Walker's Paradise
  • Transit Score ®

    57/100 Good Transit
  • Bike Score ®

    66/100 Bikeable
Powered by Walk Score ®
  • City Norwalk, CT
  • Neighborhood South Norwalk
  • Zip Code 06854
  • Market Bridgeport New Haven

Points of Interest

  • South Norwalk

    0.36 miles

  • Westport

    2.74 miles

  • Merritt 7

    3.40 miles

  • Talmadge Hill

    4.45 miles

  • New Canaan

    5.32 miles

  • Green's Farms

    5.52 miles

  • Glenbrook

    5.74 miles

  • Amtrak Metro North Taxi Stand

    7.43 miles

  • Cannondale

    8.24 miles

  • Old Greenwich

    9.11 miles

  • Shell

    0.72 miles

  • Mobil

    0.73 miles

  • Global

    1.60 miles

  • Cumberland Farms

    1.80 miles

  • Shell Express

    2.35 miles

  • Tesla Supercharger

    2.67 miles

  • Haviland Lot

    0.09 miles

  • Ironworks Garage

    0.11 miles

  • Maritime Garage

    0.24 miles

  • South Norwalk Station Parking Garage

    0.40 miles

  • Connecticut Park and Ride

    0.84 miles

  • Ambulance Parking

    1.01 miles

  • Government Vehicles Only

    1.07 miles

  • Handicapped Parking

    1.14 miles

  • Courthouse Employee Parking

    1.32 miles

  • Yankee Doodle Garage

    1.38 miles

  • The Guest House at Norwalk Inn

    1.35 miles

  • Norwalk Inn and Conference Center

    1.37 miles

  • DoubleTree

    1.98 miles

  • Norwalk-Westport Motel

    2.22 miles

  • Garden Park Motel

    2.29 miles

  • Econo Lodge Norwalk

    2.52 miles

  • Hotel Zero Degrees Norwalk

    2.88 miles

  • Extended Stay America - Norwalk - Stamford

    3.21 miles

  • EVEN Hotel Norwalk

    3.40 miles

  • Courtyard Norwalk

    3.77 miles

  • SoNo Harbor Deli & Cafe

    0.01 miles

  • Washington Prime

    0.06 miles

  • Mama's Boy

    0.22 miles

  • Cascade Cafe

    0.24 miles

  • Bambu Hibachi

    0.26 miles

  • Dunkin'

    0.28 miles

  • Arepas

    0.29 miles

  • Overton's

    0.52 miles

  • Harbor Lights

    0.52 miles

  • Mr. Frosty's

    0.56 miles

  • International Beauty Academy

    0.30 miles

  • Side by Side Charter School

    0.30 miles

  • Benjamin Franklin Middle School

    0.42 miles

  • Columbus School

    0.43 miles

  • Washington Elementary School

    0.71 miles

  • Marvin School

    0.80 miles

  • Marvin Elementary School

    1.14 miles

  • Brookside School

    1.15 miles

  • Nathaniel Ely Elementary School

    1.23 miles

  • Jefferson School

    1.28 miles

  • FCC Nursery School

    2.77 miles

  • Landmark Preschool (Westport Campus)

    3.73 miles

  • Grace Daycare and Learning Center

    7.57 miles

  • Children's Learning Centers of Fairfield County

    8.15 miles

  • Early Advantage

    8.76 miles

Frequently Asked Questions

How much does SoNo Harbor Landing cost?

The sale price for SoNo Harbor Landing is available upon request. Contact the listing broker for more information.

What is the total square footage of SoNo Harbor Landing?

SoNo Harbor Landing totals 25,434 square feet.

When was this property built?

SoNo Harbor Landing was built in 1900.

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Contact Listing Broker
broker

Northeast Private Client Group