Mixed-Use Building with
New
For Sale
$475,000
17 Congress Ave, Waterbury, CT 06708
Versatile live-work property combining residential units, business space, parking, and a separate studio office.
Property Size3,705 SF
Days on Market7
Property Features for 17 Congress Ave
General Information
Standard status
Active
Size
3,705 SF
Property subtype
Multi Family
Building Details
Building Size
3,705 SF
Year Built
1905
Buildings
1
Listing Agency:
Weichert Realtors Mrg
(347) 362-5049
Listed By:
Sadiki A. Thames · License #RES.0810665
(347) 362-5049
Source:
Elliman
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 19 at 10:29AM
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 Weichert Realtors Mrg
Investment Insights
Based on property information with market context.
Located at 17 Congress Ave in Waterbury, this 1905 mixed-use building combines two residential units with a lower-level commercial space. Each residential unit has 3 bedrooms, while the business area is described as suitable for multiple uses. The property also includes a separate studio office that can support administrative, creative, guest, or other flexible functions.
Three ductless split A/C units provide cooling, and gas heating serves the 2nd and 3rd floors. A 3-car garage, private driveway, and additional flexible space support parking, storage, access, or business operations. The property is in a walkable setting, with a walk score of 72, a bike score of 37, and a transit score of 39.
Three ductless split A/C units provide cooling, and gas heating serves the 2nd and 3rd floors. A 3-car garage, private driveway, and additional flexible space support parking, storage, access, or business operations. The property is in a walkable setting, with a walk score of 72, a bike score of 37, and a transit score of 39.
Key Highlights
- Two residential units, each with 3 bedrooms
- Lower‑level commercial space zoned for multiple business uses
- 3‑car garage plus private driveway
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
$41,742
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
8.79%
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%
$834,840
$834.8K
Cap Rate 7%
$596,314
$596.3K
Cap Rate 9%
$463,800
$463.8K
Market Conditions
NOI Build-Up for 3,705 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
$64.5K $17.40/SF
− Vacancy
−$4.8K −$1.31/SF
EGI
$59.6K $16.10/SF
− OpEx
−$17.9K −$4.83/SF
NOI
$41.7K $11.27/SF
Area
Waterbury, CT
Vacancy
7.50%
Lease Rate
$17.40 /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%
$834,840
Cap Rate 7%
$596,314
Cap Rate 9%
$463,800
Alternative Uses
Best Use
Office B
$683.6K
$598.1K – $797.5K
NOI $47,850 @ 7.0% cap · market cap 10.07%
Second Best
Mixed Use
$643.1K
$562.7K – $750.3K
NOI $45,016 @ 7.0% cap · market cap 9.48%
Theoretical Best
Office A
$983.2K
$860.3K – $1.15M
NOI $68,824 @ 7.0% cap · market cap 14.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
674
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Versatile live-work property combining residential units, business space, parking, and a separate studio office.
Where is this mixed-use property located?
The property is located at 17 Congress Ave Waterbury, CT.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two residential units, each with 3 bedrooms; Lower‑level commercial space zoned for multiple business uses; 3‑car garage plus private driveway
