Turnkey Commercial Plaza Investment
For Sale
$1,200,000
500 Bank St, Waterbury, CT 06708
Fully leased 5-unit commercial plaza in high-traffic area.
Property Size6,528 SF
Price / SF$183.82
Days on Market137
Property Features for 500 Bank St
General Information
Standard status
Active
Size
6,528 SF
Building Details
Year Built
1990
Listing Agency:
Rosania Melo Broker
Listed By:
Rosania Melo · License #REB.0795867
(203) 374-9451
Source:
Themialeteam
Added: Apr 24
Changed: Sep 4
Last Checked: Sep 6 at 10:45AM
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 Rosania Melo Broker
Investment Insights
Based on property information with market context.
This 6,582 sq ft commercial building is a turnkey, income-producing property located in a prime, high-traffic area. The property features five fully leased units with established tenants, providing immediate and stable cash flow. The property is 100% occupied and has a strong 8% cap rate. There are 10 dedicated parking spaces. The location benefits from heavy foot and vehicle traffic and is surrounded by thriving local businesses, offering high visibility on busy Bank Street. The surrounding commercial activity keeps the area active and growing, making this an ideal addition to any investor's portfolio. The location has a walk score of 72, indicating it is very walkable, a bike score of 37, indicating it is somewhat bikeable, and a transit score of 39, indicating some transit options are available.
Key Highlights
- High 8% Cap Rate: Exceptional return on investment.
- Fully Leased with Established Tenants: Turnkey operation with 100% occupancy.
- Prime, High‑Traffic Location: Situated on busy Bank Street with excellent exposure.
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
$55,192
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
4.60%
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%
$1,103,840
$1.1M
Cap Rate 7%
$788,457
$788.5K
Cap Rate 9%
$613,244
$613.2K
Market Conditions
NOI Build-Up for 6,528 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
$86.2K $13.20/SF
− Vacancy
−$7.3K −$1.12/SF
EGI
$78.8K $12.08/SF
− OpEx
−$23.7K −$3.62/SF
NOI
$55.2K $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%
$1,103,840
Cap Rate 7%
$788,457
Cap Rate 9%
$613,244
Alternative Uses
Best Use
Retail
$788.5K
$689.9K – $919.9K
NOI $55,192 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.52M – $2.02M
NOI $121,264 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,187
Businesses Nearby
96k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 51%
Dining 26%
Shops & Services 13%
Hotels & Casinos 10%
The Home Depot
Home Improvements & Furnishings
48,819 visits/mo
0.1 miles
Dunkin' Donuts
Dining
23,411 visits/mo
0.4 miles
Courtyard by Marriott Waterbury Downtown
Hotels & Casinos
9,566 visits/mo
0.3 miles
Exxon
Shops & Services
7,840 visits/mo
0.1 miles
Webster Bank
Shops & Services
2,431 visits/mo
0.4 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Old but New — 233 Congress Ave #1, Waterbury, CT 06708
- 500 Bank Street Center — 500 Bank St, Waterbury, CT 06708
- Tanya Clark — 64 e liberty st, waterbury, ct 06706
- One Exchange Place — 21 W Main St, Waterbury, CT 06702
Frequently Asked Questions
What type of property is this?
Shopping center - Fully leased 5-unit commercial plaza in high-traffic area.
Where is this shopping center located?
The property is located at 500 Bank St Waterbury, CT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High 8% Cap Rate: Exceptional return on investment.; Fully Leased with Established Tenants: Turnkey operation with 100% occupancy.; Prime, High‑Traffic Location: Situated on busy Bank Street with excellent exposure.
