The recent sale of 115 Main Street in Norwalk, CT stands as a testament to current demand in the mixed-use property market. Exclusively marketed by Choyce Peterson, Inc., the property drew strong buyer interest and multiple competitive offers. The nine residential units above four retail spaces highlight its versatile appeal. Choyce Peterson’s targeted strategy delivered a swift, successful outcome for their client.
Sale Details
A robust marketing campaign and direct outreach drove the sale of this 9,768-square-foot mixed-use building.
- Broker: Choyce Peterson, Inc. led the transaction, with Vice President Scott Peterson at the helm.
- Seller: 115 Main St Norwalk LLC, managed by Frank Fraulo, placed trust in a hands-on, experienced team.
- Interest Level: The property garnered multiple offers from highly qualified buyers soon after listing.
- Asset Class: Mixed-use, comprising both retail and multifamily components along Norwalk’s Route 7 corridor.
Property Summary: 115 Main Street
115 Main Street’s configuration and location set it apart in Norwalk’s commercial landscape.
- Unit Mix: Nine residential apartments positioned above four retail storefronts.
- Total Size: 9,768 square feet, offering both investment scale and operational flexibility.
- Location: Prime visibility and access along the Route 7 corridor, an established area for both retail and residential demand.
- Income: Strong rental income profile, appealing to both local and regional investors.
Key Investment Features
The building’s features and market context created a compelling investment case.
- Versatility: The blend of retail and residential units appeals to a broad investor base.
- Demand: Mixed-use properties in Norwalk continue to command significant attention due to limited supply and high demand.
- Turnkey Appeal: The property was well-prepared and presented, minimizing downtime for new ownership.
Marketing Strategy and Positioning
Choyce Peterson’s team implemented a multi-channel marketing approach, leveraging both their proprietary investor network and wide-reaching direct outreach. By presenting the property to a curated pool of qualified buyers and the broader market, they created competitive urgency and maximized exposure. The swift response and multiple offers underscore the power of targeted, professional brokerage in a supply-constrained segment. This approach ultimately secured a favorable outcome for the seller, validating the importance of experienced representation in today’s competitive environment.
Route 7 Corridor: Neighborhood Overview
115 Main Street is well-positioned along Norwalk’s Route 7 corridor, providing exceptional connectivity to its tenants to both retail shopping and major thoroughfares. The building is approximately 1.5 miles from both I-95 and the Merritt Parkway.
Nearby Restaurants
- Rincon Centro Americano – 115 Main St: Located in this building, this restaurant and catering business is your neighborhood go-to for authentic Central American cuisine with a homemade touch.
- B J Ryan’s BanC House – 16 River St: Casual eatery featuring New American dishes including BBQ and crabs, with outdoor seating available.
- Blackstone’s Steakhouse – 181 Main St: Upscale chophouse offering cocktails, steak & seafood, including a raw bar, in a contemporary space.
Nearby Hotels
- Even Hotel Norwalk – 426 Main Ave, Norwalk: A modern hotel focused on health and wellness, providing easy access to nearby attractions and corporate parks, as well as the Merritt 7 and South Norwalk Railroad Stations for easy access to New York City.
- Hilton Garden Inn – 560 Main Ave, Norwalk: Charming 3-star hotel conveniently located near the center of Norwalk, just off Merritt Parkway and within easy reach of I-95.
- Courtyard by Marriott – 474 Main Ave, Norwalk: The hotel offers generously appointed guest rooms and suites, complimentary WiFi, a newly-renovated lobby and Bistro, fitness center and indoor pool.
Client Testimonial
“The level of interest and the speed in which we were able to get an offer was incredible. Scott and James did a phenomenal job ensuring that our property was prepared well and presented to the appropriate market to attract credible buyers. I was very happy with the outcome.” — Frank Fraulo, Managing Director, 115 Main St Norwalk LLC
Insights into the Transaction and Property Appeal
The sale of 115 Main Street generated several questions about the property and the Norwalk market.
What made 115 Main Street so attractive to buyers?
Its combination of residential and retail units, strong rental income, and location along Route 7 made it a standout investment.
How quickly did the property receive offers?
Multiple offers were received soon after the property hit the market, reflecting strong buyer demand.
Who represented the seller of 115 Main Street?
Choyce Peterson, Inc., with Scott Peterson leading the transaction on behalf of the seller.
Why are mixed-use properties in Norwalk in such high demand?
Limited inventory and the area’s growth have increased investor competition for well-located, income-producing assets.
What marketing tactics led to a successful sale?
A blend of multi-channel marketing and direct outreach to targeted investors maximized exposure and interest.
