Automotive Garage on East
For Sale
Contact for pricing
1833 E Main St, Waterbury, CT 06705
Automotive service garage in Waterbury, currently leased.
Property Size3,228 SF
Price / SF$139.41
Days on Market787
Property Features for 1833 E Main St
General Information
Standard status
Active
Size
3,228 SF
Property subtype
Retail
Zoning
RM
Occupancy
100%
Lease Type
NNN
Building Details
Year Built
1963
Units
1
Tenancy
Single
Listing Agency:
Don Orsini Realty, LLC
(203) 525-5134
Listed By:
Don Orsini · License #CTREB.0795103
Source:
Crexi
Added: Jun 13, 2024
Changed: Aug 8
Last Checked: Aug 8 at 11:38AM
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 Don Orsini Realty, LLC
Investment Insights
Based on property information with market context.
This 3,228 square foot automotive service garage is located on East Main Street in Waterbury. The property features 4 drive-in doors and is currently leased at $3,500 per month under a triple net lease agreement, with rent increases and a 5-year option. The property is described as being in perfect condition and situated in a desirable area, presenting a potential investment opportunity.
Key Highlights
- Prime location on East Main Street in a desirable area of Waterbury.
- Currently leased at $3,500 per month with rent bumps and a 5‑year option.
- Triple net lease in place.
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
$27,291
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
6.06%
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%
$545,820
$545.8K
Cap Rate 7%
$389,871
$389.9K
Cap Rate 9%
$303,233
$303.2K
Market Conditions
NOI Build-Up for 3,228 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
$42.6K $13.20/SF
− Vacancy
−$3.6K −$1.12/SF
EGI
$39.0K $12.08/SF
− OpEx
−$11.7K −$3.62/SF
NOI
$27.3K $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%
$545,820
Cap Rate 7%
$389,871
Cap Rate 9%
$303,233
Alternative Uses
Best Use
Retail
$389.9K
$341.1K – $454.9K
NOI $27,291 @ 7.0% cap · market cap 6.06%
Second Best
Industrial
$356.8K
$312.2K – $416.3K
NOI $24,979 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$856.6K
$749.5K – $999.4K
NOI $59,963 @ 7.0% cap · market cap 13.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
725
Businesses Nearby
36k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Dining 15%
Gulf Oil
Shops & Services
10,226 visits/mo
0.3 miles
Citgo
Shops & Services
9,840 visits/mo
0.3 miles
Domino's Pizza
Dining
4,897 visits/mo
0.3 miles
Family Dollar
Shops & Services
4,339 visits/mo
0.4 miles
Santander Bank
Shops & Services
4,114 visits/mo
0.3 miles
Demographics for 06705, CT
27,197
Population
12,222
Households
2.2
Avg Household Size
38
Median Age
18%
College-Educated
86%
High-School Grad
5.6 sq mi
ZIP Area
4,857
Density / Sq Mi
$53,169
Median Household Income
$41,327
Median Earnings
$1,165
Median Rent
$177,700
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- 4Given Transport & Road Assistance LLC. — 184 Kukas Ln #2, Waterbury, CT 06705
- E Harbor Petroleum Ltd — 1485 E Main St, Waterbury, CT 06705
- Waterbury Auto Glass LLC — 2528 E Main St, Waterbury, CT 06705
- BJ's Wholesale Club — 344 Reidville Dr, Waterbury, CT 06705
- East End Auto Repair & Sales LLC — 2505 E Main St, Waterbury, CT 06705
Frequently Asked Questions
What type of property is this?
Auto shop - Automotive service garage in Waterbury, currently leased.
Where is this auto shop located?
The property is located at 1833 E Main St Waterbury, CT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Prime location on East Main Street in a desirable area of Waterbury.; Currently leased at $3,500 per month with rent bumps and a 5‑year option.; Triple net lease in place.
