10 Commerce Street

Historic 1880's Cigar factory formerly known as "The Hour Press". Opportunity zone (Qualifies for 30% historic tax credit & a 20% federal tax credit) - situated between a current large scale economic development project. Also, qualifies for the City of Norwalk "Storefront Improvement Program". Building is cleared/cleaned out. Recently featured on the History Channel. Planning & Zoning approved. First floor storefront retail with exposed brick and 13ft ceilings, (full basement with 7ft ceilings). Second floor offers exposed brick, 10ft ceilings and two residential apartments. Third floor provides exposed brick, 13ft ceilings and two residential apartments. Current market rents may yield: 1st floor Retail: $5,000 - $7,000. 2nd Floor: 1 Bedroom: $2,200. 2 Bedroom: $2,400. 3rd Floor: 1 Bedroom: $2,200. 2 Bedroom: $2,400. Total: $14,200mo./$16,200 $170,400/$194,400 a year. Annual RE Taxes: $9,467. Rare opportunity in the Wall Street neighborhood. To be sold AS-IS. Owner/Agent.

Sold

July 10, 2024