Mixed-Use Investment Opportunity,
33 & 39 Willow Street, Waterbury, CT 06710
For Sale
$1,250,000
Mixed-use property with restaurant, retail, hall, and apartments for sale.
Property Size11,748 SF
Lot Size0.12 Acres
Price / SF$106.40
Days on Market254
Property Features for 33 & 39 Willow Street
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
Central air
Sidewalk
Awnings
Central Air Cooling
Door Sign
Dry
Flat Roof
Level Lot
Lighting
Storage Building
Window Unit Cooling
Zoned Cooling
Zoned Heating
Building Details
Year Built
Listing Agency:
Coldwell Banker Realty
(203) 239-2553
Listed By:
CARMELINA RICCITELLI · License #RES.0784103
(203) 804-1877
Source:
Corcoran
Added: Mar 1
Changed: Aug 14
Last Checked: Aug 14 at 6:02AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Located at 33 & 39 Willow Street in Waterbury, CT, this mixed-use property presents an investment opportunity with immediate income and long-term potential. The property includes a fully operational pizza restaurant, additional storefront space, a function hall, and nine residential apartments, providing multiple revenue streams. King Pizza, located at 33 Willow Street, is a neighborhood restaurant known for its diverse menu. The property benefits from a high-visibility location with steady foot traffic and convenient access to I-84 and Route 8, as well as public transportation. The property supports commercial exposure and consistent residential demand. Investors can enhance units, reposition commercial space, increase rents, or explore redevelopment potential to maximize returns. Onsite parking is available. Nearby attractions include the Palace Theater, Mattatuck Museum, Waterbury Green, Brass Mill Center, and Timexpo Museum. The property size is 11748 square feet. The property is being sold as a package.
Key Highlights
- Multiple Revenue Streams: Pizza restaurant, storefront, function hall, and nine apartments.
- High‑Visibility Location: Steady foot traffic with convenient access to I‑84, Route 8, and public transportation.
- Established Business: Includes a fully operational and popular pizza restaurant (King Pizza).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,080
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,261,600
$2.3M
Cap Rate 7%
$1,615,429
$1.6M
Cap Rate 9%
$1,256,444
$1.3M
Market Conditions
NOI Build-Up for 11,748 SF
Gross rent
$162.1K $13.80/SF
− Vacancy
−$11.3K −$0.97/SF
EGI
$150.8K $12.83/SF
− OpEx
−$37.7K −$3.21/SF
NOI
$113.1K $9.63/SF
Area
Waterbury, CT
Vacancy
7.00%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,261,600
Cap Rate 7%
$1,615,429
Cap Rate 9%
$1,256,444
Alternative Uses
Best Use
Mixed Use
$2.04M
$1.78M – $2.38M
NOI $142,738 @ 7.0% cap · market cap 11.42%
Second Best
Specialty Retail
$1.62M
$1.41M – $1.88M
NOI $113,080 @ 7.0% cap · market cap 9.05%
Theoretical Best
Office A
$3.12M
$2.73M – $3.64M
NOI $218,231 @ 7.0% cap · market cap 17.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,551
Businesses Nearby
141k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 38%
Hotels & Casinos 7%
McDonald's
Dining
26,439 visits/mo
0.3 miles
Wendy's
Dining
22,067 visits/mo
0.4 miles
Citgo
Shops & Services
10,557 visits/mo
0.3 miles
Shell
Shops & Services
10,549 visits/mo
0.3 miles
Courtyard by Marriott Waterbury Downtown
Hotels & Casinos
9,566 visits/mo
0.5 miles
Demographics for 06710, CT
11,056
Population
4,515
Households
2.4
Avg Household Size
32
Median Age
15%
College-Educated
71%
High-School Grad
1.0 sq mi
ZIP Area
11,056
Density / Sq Mi
$42,774
Median Household Income
$33,880
Median Earnings
$1,135
Median Rent
$219,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in New Haven County, CT
Properties on Market for Mixed-use properties in New Haven County
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with restaurant, retail, hall, and apartments for sale.
Where is this mixed-use property located?
The property is located at 33 & 39 Willow Street Waterbury, CT.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Multiple Revenue Streams: Pizza restaurant, storefront, function hall, and nine apartments.; High‑Visibility Location: Steady foot traffic with convenient access to I‑84, Route 8, and public transportation.; Established Business: Includes a fully operational and popular pizza restaurant (King Pizza).
