Strip Mall with 8 Retail
For Sale
$1,980,000
1457 Meriden Rd, Wolcott, CT 06716
1990-built strip mall featuring eight long-tenanted storefront units in a heavy-traffic Wolcott corridor.
Property Size13,878 SF
Lot Size5.19 Acres
Price / SF$142.67
Days on Market94
Property Features for 1457 Meriden Rd
General Information
Standard status
Active
Size
13,878 SF
Lot size
5.19 Acres
Additional Details
Business Included
Yes
Building Details
Year Built
1990
Tenancy
Multi
Listing Agency:
Houlihan Lawrence WD
Listed By:
Young Lee · License #CT RES.0798035
(203) 499-8259
Source:
Themialeteam
Added: Jun 11
Changed: Sep 8
Last Checked: Sep 11 at 4:13PM
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 Houlihan Lawrence WD
Investment Insights
Based on property information with market context.
This for-sale retail property is a strip mall built in 1990 and configured with eight individual retail store spaces. The offering includes 13,878 SF of retail area on a 5.19-acre site. The current tenancy is supported by long-term occupants, with tenants described as averaging 16 years, and the public remarks note that current rent levels are below present market pricing.
Located at 1457 Meriden Rd in Wolcott, Connecticut, the property is marketed as being positioned in a heavy-traffic area. As presented, the center’s access and frontage are intended to serve a continuing stream of local retail customers along the Meriden Rd corridor.
For tenants, this layout can support a range of neighborhood retail uses that benefit from stable, established shopping traffic within a multi-tenant environment. For buyers and investors, the current structure provides a diversified retail mix across eight separate store spaces, along with an ownership opportunity at a reduced sale price as stated in the listing remarks.
Located at 1457 Meriden Rd in Wolcott, Connecticut, the property is marketed as being positioned in a heavy-traffic area. As presented, the center’s access and frontage are intended to serve a continuing stream of local retail customers along the Meriden Rd corridor.
For tenants, this layout can support a range of neighborhood retail uses that benefit from stable, established shopping traffic within a multi-tenant environment. For buyers and investors, the current structure provides a diversified retail mix across eight separate store spaces, along with an ownership opportunity at a reduced sale price as stated in the listing remarks.
Key Highlights
- 8, retail store spaces in a 1990‑built strip mall on a 5.19‑acre site
- 13,878 SF total building size
- Long‑time tenants with an average 16 years tenancy
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
$117,333
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
5.93%
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%
$2,346,660
$2.3M
Cap Rate 7%
$1,676,186
$1.7M
Cap Rate 9%
$1,303,700
$1.3M
Market Conditions
NOI Build-Up for 13,878 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
$183.2K $13.20/SF
− Vacancy
−$15.6K −$1.12/SF
EGI
$167.6K $12.08/SF
− OpEx
−$50.3K −$3.62/SF
NOI
$117.3K $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%
$2,346,660
Cap Rate 7%
$1,676,186
Cap Rate 9%
$1,303,700
Alternative Uses
Best Use
Retail
$1.68M
$1.47M – $1.96M
NOI $117,333 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.68M
$3.22M – $4.30M
NOI $257,798 @ 7.0% cap · market cap 13.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
229
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 92%
Dining 8%
Cumberland Farms
Shops & Services
16,694 visits/mo
0.5 miles
Hertz
Shops & Services
1,497 visits/mo
0.3 miles
SUBWAY
Dining
959 visits/mo
0.5 miles
China Wok
Dining
572 visits/mo
0.3 miles
Demographics for 06716, CT
15,996
Population
6,337
Households
2.5
Avg Household Size
46
Median Age
36%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
792
Density / Sq Mi
$114,529
Median Household Income
$56,463
Median Earnings
$1,650
Median Rent
$299,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Strip mall - 1990-built strip mall featuring eight long-tenanted storefront units in a heavy-traffic Wolcott corridor.
Where is this strip mall located?
The property is located at 1457 Meriden Rd Wolcott, CT.
What is the asking price?
The asking price for this property is $1,980,000.
What are key features of this property?
This property features: 8, retail store spaces in a 1990‑built strip mall on a 5.19‑acre site; 13,878 SF total building size; Long‑time tenants with an average 16 years tenancy
