Four-Story Restaurant
For Sale
$750,000
26 N Main Street, Waterbury, CT 06702
Commercial For Sale, Waterbury, CT
Property Size7,510 SF
Lot Size0.06 Acres
Price / SF$99.87
Days on Market80
Property Features for 26 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Security features
Security System
Interior features
Employee Lounge,Fire Suppression System,Public Restrooms,Security System,Window Display
Exterior features
Sidewalk,Awnings,Gutters,Lighting,Doors - under 10 ft,Door Sign
Directions
GPS Compatible
Subdivision
Downtown
Standard status
Active
Size
7,510 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
11210
Utilities
Utilities
Phone Available
Sewer type
Public Sewer
Cooling system
Zoned, Central Air
Water source
Public
Building Details
Year built
1900
Flooring type
Wood, Tile
Listing Agency:
Dave Jones Realty, LLC
(203) 758-0264
Listed By:
George Noujaim · License #RES.0820988
(203) 802-7172
Added: Jun 11
Changed: Aug 27
Last Checked: Aug 29 at 3:06AM
MLS# 24183286
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 7,510-square-foot restaurant property occupies four levels on a 0.06-acre parcel and was built in 1900. The recently remodeled interior includes two restaurant floors, two commercial kitchens with updated equipment, and separate bar areas serving different levels. Historic details include original tin ceilings, brass accents, mahogany barwork, wood and tile flooring, and public restrooms. Additional features include central air with zoning, a fire suppression system, security equipment, window display areas, awnings, lighting, and sidewalks.
Located at 26 N Main Street in downtown Waterbury, the building overlooks the Downtown Green and has frontage on North Main Street. The surrounding context includes the Palace Theater, Mattatuck Museum, and the University of Connecticut Waterbury Campus. The property is zoned CBD and served by public water and public sewer.
Located at 26 N Main Street in downtown Waterbury, the building overlooks the Downtown Green and has frontage on North Main Street. The surrounding context includes the Palace Theater, Mattatuck Museum, and the University of Connecticut Waterbury Campus. The property is zoned CBD and served by public water and public sewer.
Key Highlights
- 7,510‑square‑foot commercial restaurant building on 0.06 acres
- Four‑level building constructed in 1900
- Two restaurant floors, two commercial kitchens, and two separate bar areas
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
$58,113
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
7.75%
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%
$1,162,260
$1.2M
Cap Rate 7%
$830,186
$830.2K
Cap Rate 9%
$645,700
$645.7K
Market Conditions
NOI Build-Up for 7,510 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
$88.3K $11.76/SF
− Vacancy
−$5.3K −$0.71/SF
EGI
$83.0K $11.05/SF
− OpEx
−$24.9K −$3.32/SF
NOI
$58.1K $7.74/SF
Area
Waterbury, CT
Vacancy
6.00%
Lease Rate
$11.76 /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%
$1,162,260
Cap Rate 7%
$830,186
Cap Rate 9%
$645,700
Alternative Uses
Best Use
Specialty Retail
$1.03M
$903.6K – $1.20M
NOI $72,288 @ 7.0% cap · market cap 9.64%
Second Best
Industrial
$830.2K
$726.4K – $968.6K
NOI $58,113 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$1.99M
$1.74M – $2.33M
NOI $139,506 @ 7.0% cap · market cap 18.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,717
Businesses Nearby
173k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Dining 25%
Apparel 17%
Hotels & Casinos 6%
Five Below
Shops & Services
31,326 visits/mo
0.5 miles
DICK'S Sporting Goods
Apparel
30,074 visits/mo
0.5 miles
Dunkin' Donuts
Dining
23,411 visits/mo
0.2 miles
Chili's Grill & Bar
Dining
20,070 visits/mo
0.5 miles
Barnes & Noble
Shops & Services
13,355 visits/mo
0.4 miles
Demographics for 06702, CT
3,882
Population
1,910
Households
2
Avg Household Size
45
Median Age
8%
College-Educated
69%
High-School Grad
0.7 sq mi
ZIP Area
5,546
Density / Sq Mi
$16,198
Median Household Income
$15,833
Median Earnings
$720
Median Rent
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Recently remodeled hospitality property with separate dining, bar, and kitchen areas across multiple levels.
Where is this conventional restaurant located?
The property is located at 26 N Main Street Waterbury, CT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 7,510‑square‑foot commercial restaurant building on 0.06 acres; Four‑level building constructed in 1900; Two restaurant floors, two commercial kitchens, and two separate bar areas
