Mixed-Use Investment
651 E Main St Waterbury, CT 06702
651 E Main St, Waterbury, CT, 06702
$899,900
For Sale
$899,900
Two fully occupied buildings with commercial and residential units.
Property Size7,371 SF
Price / SF$122.09
Days on Market62
Property Features for 651 E Main St
General Information
- Standard status
- Active
- Size
- 7,371 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1924
Listing agency
OXFORD REALTY
(203) 314-4219
Listed by
Amanda R. Faroni-Sheehan · License #REB.0793328CT
(203) 314-4219
Source
Elliman
Added: May 21 Updated: Jul 10 at 1:34PM Checked: Jul 21 at 6:36AM
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 OXFORD REALTY
Investment Insights
Based on property information with market context.
This exceptional investment opportunity features two adjacent commercial buildings totaling 8 units on East Main Street in Waterbury. The fully occupied portfolio offers strong in-place cash flow with a mix of commercial and residential tenants. Utilities are separate and tenant-paid. 651 E Main Street is a fully occupied 2-unit commercial building totaling 2,585 square feet. Tenants pay all utilities. 669 E Main Street is a fully occupied mixed-use property totaling 7,371 square feet, with 2 ground floor commercial units and 4 residential apartments above. All residential units feature a 3-bed, 1-bath unit mix. Utilities are separately metered and tenant paid. There is one parking space per apartment behind the building. Positioned along a heavily traveled street, the properties benefit from proximity to downtown Waterbury, Saint Mary's Hospital, Hamilton Park, shopping, restaurants, public transportation, and major highways. This is an ideal opportunity for investors seeking stable mixed-use assets with strong occupancy and long-term upside potential. The location has a walk score of 65, a transit score of 44, and a bike score of 31.
Key Highlights
- Fully occupied portfolio of two adjacent commercial buildings (8 units total) generating strong in‑place cash flow.
- Desirable mix of commercial and residential tenants provides diversification and stability.
- Separate, tenant‑paid utilities throughout both buildings minimize landlord expenses and streamline management.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $145.9k | $19.80 |
| − Vacancy | −$9.9k | −$1.35 |
| EGI | $136.0k | $18.45 |
| − OpEx | −$61.2k | −$8.30 |
| NOI | $74.8k | $10.15 |
7,371 SF · lease $19.80/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Mixed Use
$1.28M
$1.12M – $1.49M
NOI $89,558 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$1.07M
$935.2K – $1.25M
NOI $74,812 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$1.96M
$1.71M – $2.28M
NOI $136,924 @ 7.0% cap · market cap 15.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Davis Gift Record ...
Religious Bookstore
Davis Barber Shop
Barber Shop
THCThrills | Same-Day Cannabis ...
(Bike/Boat/Book/etc) Store
Popeyes LOUISIANA KITCHEN
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two fully occupied buildings with commercial and residential units.
Where is this mixed-use property located?
The property is located at 651 E Main St Waterbury, CT.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Fully occupied portfolio of two adjacent commercial buildings (8 units total) generating strong in‑place cash flow.; Desirable mix of commercial and residential tenants provides diversification and stability.; Separate, tenant‑paid utilities throughout both buildings minimize landlord expenses and streamline management.
