Renovated Mixed-Use
For Sale
$715,000
49 Hill Street, Waterbury, CT 06704
Commercial For Sale, Waterbury, CT
Property Size4,024 SF
Lot Size0.15 Acres
Price / SF$177.68
Days on Market85
Property Features for 49 Hill Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RM
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 4, Bathroom 2, Bathroom 3, Bathroom 5, Bathroom 1
Parking
3
Interior features
Living Space Available,Window Display
Lot features
Level Lot
Directions
North Main to Hill
Subdivision
North End
Standard status
Active
Size
4,024 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
10894
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
2022
Floors in Building
3
Flooring type
Tile
Listing Agency:
Ghent Realty Advisors
(203) 597-1077
Listed By:
Robert Ghent · License #REB.0790043
(203) 543-2847
Added: Jun 5
Changed: Aug 23
Last Checked: Aug 28 at 11:06PM
MLS# 24181532
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 mixed-use property comprises two buildings with a combined 4,024 square feet. The first building contains 2,400 square feet, with two 3-bedroom apartments above a street-level retail area. The second building measures 1,624 square feet and includes two additional 3-bedroom apartments. Both buildings received comprehensive interior and exterior renovations, including new mechanical systems and appliances. Two apartments are currently unoccupied and ready for leasing. The property sits on a 0.15-acre lot and is served by public water and public sewer. RM zoning, tile flooring, baseboard heat, and window display space are also included.
Key Highlights
- Four 3‑bedroom apartments across two buildings
- Street‑level retail space with window display area
- 4,024 square feet on a 0.15‑acre lot
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
$48,892
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
6.84%
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%
$977,840
$977.8K
Cap Rate 7%
$698,457
$698.5K
Cap Rate 9%
$543,244
$543.2K
Market Conditions
NOI Build-Up for 4,024 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
$86.9K $21.60/SF
− Vacancy
−$8.7K −$2.16/SF
EGI
$78.2K $19.44/SF
− OpEx
−$29.3K −$7.29/SF
NOI
$48.9K $12.15/SF
Area
Waterbury, CT
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$977,840
Cap Rate 7%
$698,457
Cap Rate 9%
$543,244
Alternative Uses
Best Use
Mixed Use
$698.5K
$611.2K – $814.9K
NOI $48,892 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$583.5K
$510.5K – $680.7K
NOI $40,842 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.07M
$934.4K – $1.25M
NOI $74,750 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,581
Businesses Nearby
Explore this area
Business Placement
Demographics for 06704, CT
27,300
Population
12,987
Households
2.1
Avg Household Size
34
Median Age
14%
College-Educated
78%
High-School Grad
8.1 sq mi
ZIP Area
3,370
Density / Sq Mi
$47,848
Median Household Income
$33,090
Median Earnings
$1,202
Median Rent
$178,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings combine multifamily residences with a street-facing retail space and updated building systems.
Where is this mixed-use property located?
The property is located at 49 Hill Street Waterbury, CT.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: Four 3‑bedroom apartments across two buildings; Street‑level retail space with window display area; 4,024 square feet on a 0.15‑acre lot
