Corner Mixed-Use Retail
151 Highland Avenue Waterbury, CT 06708
For Sale
$575,000
MULTI_FAMILY - Waterbury, CT
Property Size2,704 SF
Lot Size0.13 Acres
Price / SF$212.65
Days on Market441
Property Features for 151 Highland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CN
Bedrooms
3
Bathrooms
1
Rooms
Bedroom 2, Basement, Bedroom 3, Bedroom 1, Bathroom 1
Basement
Full
Standard status
Active
Size
2,704 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6278
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1920
Listing Agency:
Advantage Realty Group, Inc.
(203) 755-4015
Listed By:
Judith Caputo · License #REB.0751026
(203) 509-1151
Added: May 14, 2025
Changed: Jul 28
Last Checked: Jul 28 at 1:06PM
MLS# 24096040
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
A corner mixed-use building offers a storefront with an apartment above. The property includes a two-story structure with a storefront area and a 6-room, 3-bedroom apartment on the second level. Updates mentioned include a newer kitchen, formal dining room, and hardwood floors. There is also a full basement and pull-down stairs leading to an attic that may provide additional room possibilities. Additional income is supported by a detached 2-car garage with two bays.
The property is on a corner lot and is described as C/A zoned. Public remarks note high visibility in a heavily traveled area, with proximity to major highways.
The building has been operated for more than 20 years as “Sam’s Deli & Convenience,” and the remarks specify that surveillance and video cameras are on and throughout the premises. The business is not included in the sale.
The property is on a corner lot and is described as C/A zoned. Public remarks note high visibility in a heavily traveled area, with proximity to major highways.
The building has been operated for more than 20 years as “Sam’s Deli & Convenience,” and the remarks specify that surveillance and video cameras are on and throughout the premises. The business is not included in the sale.
Key Highlights
- Mixed‑use 2‑story building with storefront plus a 6‑room, 3‑bedroom apartment above
- Corner lot with high‑traffic, high‑visibility area and storefront minutes from major highways
- Includes a 2‑car detached garage plus additional income from a 2‑bay garage
Financial Insights For Specialty Retail
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 | $37.3k | $13.80 |
| − Vacancy | −$2.6k | −$0.97 |
| EGI | $34.7k | $12.83 |
| − OpEx | −$8.7k | −$3.21 |
| NOI | $26.0k | $9.63 |
2,704 SF · lease $13.80/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$371.8K
$325.3K – $433.8K
NOI $26,027 @ 7.0% cap · market cap 4.53%
Second Best
Retail
$326.6K
$285.8K – $381.0K
NOI $22,861 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$717.6K
$627.9K – $837.2K
NOI $50,230 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Cherry Valley Marketplace — 155 Thomaston Ave, Waterbury, CT 06702
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Corner mixed-use building with storefront and a 3-bedroom apartment above, plus a detached 2-car garage.
Where is this grocery and convenience store located?
The property is located at 151 Highland Avenue Waterbury, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Mixed‑use 2‑story building with storefront plus a 6‑room, 3‑bedroom apartment above; Corner lot with high‑traffic, high‑visibility area and storefront minutes from major highways; Includes a 2‑car detached garage plus additional income from a 2‑bay garage
