8-Space Retail Shopping
For Sale
$1,980,000
1457 Meriden Road, Wolcott, CT 06716
Commercial For Sale, Wolcott, CT
Property Size13,878 SF
Lot Size5.19 Acres
Price / SF$142.67
Days on Market410
Property Features for 1457 Meriden Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Lot features
Dry, Level Lot
Directions
Rt 844/Rt 322, Meriden Rd
Standard status
Active
Size
13,878 SF
Lot size
5.19 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
18417
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1990
Floors in Building
1
Listing Agency:
Houlihan Lawrence WD
(203) 787-6888
Listed By:
Young Lee · License #CT RES.0798035
(203) 499-8259
Added: Jul 17, 2025
Changed: Aug 30
Last Checked: Aug 30 at 10:06PM
MLS# 24112597
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 13,878-square-foot shopping center contains 8 retail store spaces within a 1990-built property on 5.19 acres. Central air serves the building, while public water and public sewer support the site. The property is designated GC zoning.
Located at 1457 Meriden Road in Wolcott, Connecticut, the center is positioned in an area identified as having heavy traffic. Its retail-space configuration provides a defined commercial setting for multiple occupants, with each space contributing to the overall center layout.
Located at 1457 Meriden Road in Wolcott, Connecticut, the center is positioned in an area identified as having heavy traffic. Its retail-space configuration provides a defined commercial setting for multiple occupants, with each space contributing to the overall center layout.
Key Highlights
- 13,878‑square‑foot shopping center on 5.19 acres
- 8 retail store spaces
- Built in 1990
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$117,333
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,346,660
$2.3M
Cap Rate 7%
$1,676,186
$1.7M
Cap Rate 9%
$1,303,700
$1.3M
Market Conditions
NOI Build-Up for 13,878 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$183.2K $13.20/SF
− Vacancy
−$15.6K −$1.12/SF
EGI
$167.6K $12.08/SF
− OpEx
−$50.3K −$3.62/SF
NOI
$117.3K $8.45/SF
Area
Waterbury, CT
Vacancy
8.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,346,660
Cap Rate 7%
$1,676,186
Cap Rate 9%
$1,303,700
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,333 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.68M
$3.22M – $4.30M
NOI $257,798 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
20k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Dining 8%
Cumberland Farms
Shops & Services
16,694 visits/mo
0.5 miles
Hertz
Shops & Services
1,497 visits/mo
0.3 miles
SUBWAY
Dining
959 visits/mo
0.5 miles
China Wok
Dining
572 visits/mo
0.3 miles
Demographics for 06716, CT
15,996
Population
6,337
Households
2.5
Avg Household Size
46
Median Age
36%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
792
Density / Sq Mi
$114,529
Median Household Income
$56,463
Median Earnings
$1,650
Median Rent
$299,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Coin Cloud Bitcoin ATM — 1655 Meriden Rd, Wolcott, CT 06716
Frequently Asked Questions
What type of property is this?
Shopping center - Multi-tenant retail property with central air and public water and sewer service.
Where is this shopping center located?
The property is located at 1457 Meriden Road Wolcott, CT.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: 13,878‑square‑foot shopping center on 5.19 acres; 8 retail store spaces; Built in 1990
