Triplex with Private
For Sale
Contact for pricing
108 Highland Ave, Waterbury, CT 06708
The remodeled second-floor unit features stainless appliances, refreshed finishes, and separate natural-gas metering throughout the property.
Property Size3,823 SF
Price / SF$111.17
Days on Market439
Property Features for 108 Highland Ave
General Information
Standard status
Active
Size
3,823 SF
Property subtype
Multifamily
Zoning
RM
Building Details
Year Built
1908
Units
3
Listing Agency:
Coldwell Banker Realty
(860) 877-4682
Listed By:
Mustafa Muaremi · License #RES.0818283
Source:
Crexi
Added: Jun 19, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 3823-square-foot triplex, built in 1908, contains two occupied two-bedroom, one-bath units and a vacant second-floor apartment. The vacant unit has been remodeled with new paint, luxury-vinyl plank flooring, stainless appliances, updated lighting and fixtures, and refreshed front and rear staircases. Each apartment includes tall ceilings, private laundry hookups, porch access, and locked basement storage.
Separate natural-gas meters, high-efficiency forced-air furnaces, updated electrical panels, newer mechanical systems, an architectural roof, replacement windows, and vinyl siding support the building’s operating configuration. The property is located 0.9 miles from UConn Waterbury, six minutes from Post University, and near I-84, Route 8, and the Metro-North station. The address is 108 Highland Ave in Waterbury, Connecticut.
Separate natural-gas meters, high-efficiency forced-air furnaces, updated electrical panels, newer mechanical systems, an architectural roof, replacement windows, and vinyl siding support the building’s operating configuration. The property is located 0.9 miles from UConn Waterbury, six minutes from Post University, and near I-84, Route 8, and the Metro-North station. The address is 108 Highland Ave in Waterbury, Connecticut.
Key Highlights
- 3823‑square‑foot triplex built in 1908
- Two occupied 2 BR/1 BA units plus a vacant second‑floor apartment
- Remodeled vacant unit with stainless appliances and luxury‑vinyl plank flooring
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
$38,801
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
9.13%
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%
$776,020
$776.0K
Cap Rate 7%
$554,300
$554.3K
Cap Rate 9%
$431,122
$431.1K
Market Conditions
NOI Build-Up for 3,823 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
$75.7K $19.80/SF
− Vacancy
−$5.1K −$1.35/SF
EGI
$70.5K $18.45/SF
− OpEx
−$31.7K −$8.30/SF
NOI
$38.8K $10.15/SF
Area
Waterbury, CT
Vacancy
6.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$776,020
Cap Rate 7%
$554,300
Cap Rate 9%
$431,122
Alternative Uses
Best Use
Multifamily LT 5
$615.3K
$538.4K – $717.9K
NOI $43,072 @ 7.0% cap · market cap 10.13%
Second Best
Apartment 5plus
$554.3K
$485.0K – $646.7K
NOI $38,801 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$1.01M
$887.7K – $1.18M
NOI $71,016 @ 7.0% cap · market cap 16.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,804
Businesses Nearby
Explore this area
Business Placement
Demographics for 06708, CT
30,345
Population
13,061
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
3,228
Density / Sq Mi
$63,705
Median Household Income
$40,515
Median Earnings
$1,275
Median Rent
$196,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - The remodeled second-floor unit features stainless appliances, refreshed finishes, and separate natural-gas metering throughout the property.
Where is this triplex located?
The property is located at 108 Highland Ave Waterbury, CT.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3823‑square‑foot triplex built in 1908; Two occupied 2 BR/1 BA units plus a vacant second‑floor apartment; Remodeled vacant unit with stainless appliances and luxury‑vinyl plank flooring
