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Norwalk Mixed-Use Building Sells for $1.52M

January 27, 2022 | Reprints | Unlock Link | Print

Photo courtesy of Angel Commercial

A mixed-use commercial property in Norwalk has sold for $1.52 million.

Elmcrest Inc., a local real estate investor, bought 12 Elmcrest Terrace from Taloney Assoc. LLC, registered to a Norwalk address.

The 7,890-square-foot building on 0.49 acres is zoned for residential use. The building is fully leased, said Jon Angel of Angel Commercial, the sole broker in the transaction.

The seller will be leasing space in the property from the buyer, Angel said.

“Urology Associates of Norwalk have a long-term lease and will remain in the commercial portion of the building,” Angel said. “The two apartments are rented to medical professionals at Norwalk Hospital, located directly across the street from the subject asset. Furthermore, we continue to see strong interest from the investor market seeking fully leased opportunities.”