Two-Bay Garage
For Sale
$199,900
34 Judd Street, Waterbury, CT 06702
Garage building with two bays in a downtown setting with easy highway access, sold as-is.
Property Size1,940 SF
Price / SF$90.86
Days on Market73
Property Features for 34 Judd Street
General Information
Standard status
Active
Size
1,940 SF
Property subtype
Commercial
Building Details
Building Size
1,940 SF
Year Built
1940
Listing Agency:
Showcase Realty, Inc.
Listed By:
Vincent Devico
(203) 206-7002
Source:
Iverty
Added: Jun 26
Changed: Sep 5
Last Checked: Sep 5 at 6:27AM
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 Showcase Realty, Inc.
Investment Insights
Based on property information with market context.
This property is a two-bay garage building suited for auto-related uses or to support a small business setup. The offering includes the existing structure and is being sold as-is.
The building is located in a downtown area with easy access to highways, providing convenient connectivity for day-to-day operations.
Prospective buyers should review the property condition and intended use in light of the as-is sale terms.
The building is located in a downtown area with easy access to highways, providing convenient connectivity for day-to-day operations.
Prospective buyers should review the property condition and intended use in light of the as-is sale terms.
Key Highlights
- Garage building built in 1940 with 2 bays
- Downtown location with easy access to highways
- Building sold as‑is
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
$17,024
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
8.52%
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%
$340,480
$340.5K
Cap Rate 7%
$243,200
$243.2K
Cap Rate 9%
$189,156
$189.2K
Market Conditions
NOI Build-Up for 2,200 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
$25.9K $11.76/SF
− Vacancy
−$1.6K −$0.71/SF
EGI
$24.3K $11.05/SF
− OpEx
−$7.3K −$3.32/SF
NOI
$17.0K $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 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%
$340,480
Cap Rate 7%
$243,200
Cap Rate 9%
$189,156
Alternative Uses
Best Use
Retail
$265.7K
$232.5K – $310.0K
NOI $18,600 @ 7.0% cap · market cap 9.30%
Second Best
Industrial
$243.2K
$212.8K – $283.7K
NOI $17,024 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$583.8K
$510.8K – $681.1K
NOI $40,867 @ 7.0% cap · market cap 20.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,551
Businesses Nearby
141k
Monthly Visits Nearby
Well-served
Demand for This Use
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 06702, CT
3,882
Population
1,910
Households
2
Avg Household Size
45
Median Age
8%
College-Educated
69%
High-School Grad
0.7 sq mi
ZIP Area
5,546
Density / Sq Mi
$16,198
Median Household Income
$15,833
Median Earnings
$720
Median Rent
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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- South Main Tire Shop — 550 S Main St, Waterbury, CT 06706
- Waterbury Mobile Truck Repair — 45 Benedict St, Waterbury, CT 06706
- Ricoton's Auto — Waterbury, CT 06702
Frequently Asked Questions
What type of property is this?
Auto shop - Garage building with two bays in a downtown setting with easy highway access, sold as-is.
Where is this auto shop located?
The property is located at 34 Judd Street Waterbury, CT.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Garage building built in 1940 with 2 bays; Downtown location with easy access to highways; Building sold as‑is
