Building Details

Year Built 1950

Listing Agency: Full Service Realty LLC

Listed By: Paul Roger Show Phone

Source: Themialeteam

Added: Jun 12 Changed: Oct 4 Last Checked: Oct 7 at 3:37PM

Report an Issue

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 Full Service Realty LLC

Investment Insights

Based on property information with market context.

This flex property at 15 W Clay Street includes nearly 7,000 square feet of warehouse space within a building constructed in 1950. The layout can be divided into up to 5-6 spaces, and the electrical system is already separated into 5 services. The property was most recently used as a glass shop and includes 2 half baths.

A driveway and parking lot convey with the property, which is identified as a separate parcel. The site includes 10 parking spaces, providing dedicated on-site parking for the building’s configuration. Waterbury, CT 06706 is the stated property location.

Key Highlights

• Nearly 7,000 sq. ft. of warehouse space
• Can be divided into up to 5‑6 spaces
• Electrical service is separated into 5 connections

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$54,167

Cap Rate

8.02%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,083,340 $1.1M

Cap Rate 7%

$773,814 $773.8K

Cap Rate 9%

$601,856 $601.9K

Market Conditions

NOI Build-Up for 7,000 SF

Gross rent

$82.3K $11.76/SF

− Vacancy

−$4.9K −$0.71/SF

EGI

$77.4K $11.05/SF

− OpEx

−$23.2K −$3.32/SF

NOI

$54.2K $7.74/SF

Area

Waterbury, CT

Vacancy

6.00%

Lease Rate

$11.76 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,083,340

Cap Rate 7%

$773,814

Cap Rate 9%

$601,856

Alternative Uses

Best Use

Flex RnD

$1.14M

$993.7K – $1.32M (±1% cap)

NOI $79,498 @ 7.0% cap · market cap 11.78%

Second Best

Warehouse

$915.7K

$801.2K – $1.07M (±1% cap)

NOI $64,099 @ 7.0% cap · market cap 9.50%

Theoretical Best

Office A

$1.86M

$1.63M – $2.17M (±1% cap)

NOI $130,032 @ 7.0% cap · market cap 19.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Flex space

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Veterinary Clinic Electrical Service Catering Service Pet Grooming Service Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,228

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 06706, CT

14,699

Population

5,907

Households

2.5

Avg Household Size

36

Median Age

16%

College-Educated

77%

High-School Grad

3.8 sq mi

ZIP Area

3,868

Density / Sq Mi

$51,770

Median Household Income

$32,375

Median Earnings

$1,233

Median Rent

$171,400

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Waterbury Warehouse on 4.7 Acres

536 Scott Rd, Waterbury, CT 06705

$750,000

9,300 SF

View details

One-Story Concrete Warehouse

33 Gasparri Ln, Waterbury, CT 06705

$325,000

6,000 SF

View details

Auto Shop with Industrial Building

36 Brewery St, Waterbury, CT 06708

$1,999,000

5,860 SF

View details

Industrial Tool Shop with Offices

112 Porter Street, Waterbury, CT 06708

$475,000

3,483 SF

View details

Flexible Industrial Space

452 Meadow St, Waterbury, CT 06702

Contact for pricing

9,566 SF

View details

Multi-Unit Residential Property

121 Lounsbury St, Waterbury, CT 06706

$750,000

6,836 SF

View details

Eight-Unit Mixed-Use Building

138 Cherry Street, Waterbury, CT 06702

$550,000

7,068 SF

View details

Mixed-Use Property Portfolio

669 East Main St, Waterbury, CT 06702

$850,000

7,371 SF

View details

13-Unit Apartment Portfolio

66-74 Holmes, Waterbury, CT 06710

$1,450,000

7,055 SF

View details

Turnkey Commercial Plaza Investment Opportunity

500 Bank St, Waterbury, CT 06708

$1,200,000

6,528 SF

View details

Turnkey Mixed-Use Building with Storefront

140 Grand Street, Waterbury, CT 06702

$1,300,000

6,596 SF

View details

Mixed-Use Building with Storefronts

734 E Main Street, Waterbury, CT 06702

$1,449,000

7,284 SF

View details

Similar Off Market Nearby

• The Truck — 175 Freight St #2, Waterbury, CT 06702

Frequently Asked Questions

What type of property is this?

Flex space - Warehouse improvements offer multiple service connections, two half baths, and dedicated parking areas.

Where is this flex space located?

The property is located at 15 West Clay St Waterbury, CT.

What is the asking price?

The asking price for this property is $675,000.

What are key features of this property?

This property features: Nearly 7,000 sq. ft. of warehouse space; Can be divided into up to 5‑6 spaces; Electrical service is separated into 5 connections