Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    84 Progress Ln Waterbury, CT 06705

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    20,000 +/- SF of 2nd-floor office space available.

    Property size:
    20,000 SF
    Lot size:
    10.44 Acres

    Property Features for 84 Progress Ln

    General Information

    Size
    20,000 SF
    Lot size
    10.44 Acres

    We can help!

    Listing Contact
    Michael Grieder
    Michael Grieder
    Source: Moodyscre

    Listing Agency: Godin Property Brokers Listing Agent: Michael Grieder

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Waterbury Office Space For Rent

    Available for rent is approximately 20,000 square feet of second-floor office space. The property, formerly a banking headquarters, is situated in an office park setting located right off I-84 and on the city bus line. It features an elevator and abundant free on-site parking. The space is equipped with 6 T1 phone lines, each with a capacity for 25 sub-lines. The property is professionally managed and owned. The space is offered at $6.95-$10.00 PSF + NNN.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Health Complex Medical Medical Supply Store Mortgage Refinance Waterbury ... Bank Western Connecticut Area ... Social Service Agency Senior Wyze Senior ... Nursing Home Richard Aust Pharmacy

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9729914
    Latitude
    41.534614

    Nearby Similar for Lease

    • $1,600 /Mo
      1,100 SF

      Updated Retail Space in Waterbury

      Turnkey 1,100 sq ft retail space in high-traffic area.
      1015 Meriden Rd, Waterbury, CT 06705
      View Details
    • $2,000 /Mo
      2,000 SF

      Wolcott Commercial Space For Lease

      Retail or office space available in high-traffic Wolcott location.
      1457 Meriden Rd, Wolcott, CT 06716
      View Details
    • $5,950 /Mo
      5,500 SF

      Spacious Retail Space Available

      5,500 SF retail space in high-traffic Waterbury location.
      1014 Meriden Rd, Waterbury, CT 06705
      View Details
    • $750 /Mo
      700 SF

      Office Space in Prospect, CT

      Small office space with high visibility and convenient highway access.
      6 New Haven Rd, Prospect, CT 06712
      View Details
    • $1,000 /Mo
      8,769 SF

      Wolcott Commercial Space For Lease

      Commercial space available for lease in high-traffic Wolcott location.
      250 Wolcott Rd, Wolcott, CT 06716
      View Details
    • New
      $3,000 /Mo
      Pending

      Waterbury Light Industrial Flex Space

      Functional flex space with office and storage in Waterbury.
      396 Chase River Rd, Waterbury, CT 06704
      View Details
    • $500 /Mo
      300 SF

      Wolcott Office Space For Rent

      Office space available in Wolcott, CT. Ideal for therapists.
      246 Wolcott Rd, Wolcott, CT 06716
      View Details
    • $950 /Mo
      600 SF

      Wolcott Office Space For Rent

      600 SF office space with utilities included for rent.
      246 Wolcott Rd, Wolcott, CT 06716
      View Details
    • $2,000 /Mo
      1,700 SF

      Renovated Commercial Unit For Lease

      Recently renovated 1700 SF commercial unit with high visibility.
      1636 Baldwin St, Waterbury, CT 06706
      View Details
    • $2,300 /Mo

      Wolcott Road Medical Office Space

      Turn-key medical office space in a well-maintained complex.
      464 Wolcott Rd, Wolcott, CT 06716
      View Details
    • $5,950 /Mo

      Spacious Retail Space Available

      Retail space in high-traffic location, ready for immediate occupancy.
      1014 Meriden Rd, Waterbury, CT 06705
      View Details
    • $2,000 /Mo

      Retail/Office Space on Heavy Traffic

      Retail or office space available in a busy plaza.
      1457 Meriden Rd, Wolcott, CT 06716
      View Details

    FAQs

    What type of property is this?
    Office units - 20,000 +/- SF of 2nd-floor office space available.
    Where is this office units located?
    The property is located at 84 Progress Ln Waterbury, CT.
    What are key features of this property?
    This property features: - 20,000 +/- SF of 2nd Floor Office Space Available; - Located Right off I-84 on the City Bus Line; - Abundant free on-site parking
    (203) 577-2277 Call to check price and availability
    Request Owner's contact information
    84 Progress Ln Waterbury, CT 06705
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    84 Progress Ln
    Waterbury, CT 06705
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    84 Progress Ln Waterbury, CT 06705
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Michael Grieder
    Michael Grieder
    Real Estate License ID: RES.0804179
    (203) 577-2277 (203) 910-3426
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!