Multi-Tenant Retail
For Sale
$1,250,000
34 Waterbury Road, Prospect, CT 06712
Five occupied tenant spaces share a newly replaced roof and 30 on-site parking spaces.
Property Size1,954 SF
Price / SF$189.39
Days on Market9
Property Features for 34 Waterbury Road
General Information
Standard status
Active
Size
1,954 SF
Total Parking Spaces
30
Property subtype
Commercial
Building Details
Building Size
1,954 SF
Year Built
1954
Tenancy
Multi
Listing Agency:
Pavlik Real Estate LLC
(203) 217-4149
Listed By:
Richard Pavlik · License #REB.0791481
(203) 217-4149
Source:
Iverty
Added: Jul 31
Changed: Aug 3
Last Checked: Aug 7 at 1:00AM
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 Pavlik Real Estate LLC
Investment Insights
Based on property information with market context.
This retail plaza contains five occupied tenant spaces and has a newly replaced roof. The property includes 30 parking spaces, with 12 positioned at the front and 18 located behind the building. Constructed in 1954, the center provides an established retail configuration for ongoing commercial occupancy.
The property is located at 34 Waterbury Road in Prospect, Connecticut, along Connecticut State Highway Route 69. Its parking arrangement provides access from both sides of the building, supporting tenant and customer use.
The property is located at 34 Waterbury Road in Prospect, Connecticut, along Connecticut State Highway Route 69. Its parking arrangement provides access from both sides of the building, supporting tenant and customer use.
Key Highlights
- Five tenant spaces currently occupied
- New roof installed throughout the plaza
- 30 parking spaces: 12 front and 18 rear
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
$55,800
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
4.46%
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%
$1,116,000
$1.1M
Cap Rate 7%
$797,143
$797.1K
Cap Rate 9%
$620,000
$620.0K
Market Conditions
NOI Build-Up for 6,600 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
$87.1K $13.20/SF
− Vacancy
−$7.4K −$1.12/SF
EGI
$79.7K $12.08/SF
− OpEx
−$23.9K −$3.62/SF
NOI
$55.8K $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%
$1,116,000
Cap Rate 7%
$797,143
Cap Rate 9%
$620,000
Alternative Uses
Best Use
Retail
$797.1K
$697.5K – $930.0K
NOI $55,800 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,602 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
380
Businesses Nearby
58k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
Dunkin' Donuts
Dining
16,452 visits/mo
0.2 miles
Dollar General
Shops & Services
11,467 visits/mo
0.2 miles
Shell
Shops & Services
9,365 visits/mo
0.1 miles
The UPS Store
Shops & Services
9,004 visits/mo
0.2 miles
Mobil
Shops & Services
3,530 visits/mo
0.4 miles
Demographics for 06712, CT
9,344
Population
3,546
Households
2.6
Avg Household Size
47
Median Age
37%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
658
Density / Sq Mi
$125,556
Median Household Income
$70,658
Median Earnings
$1,888
Median Rent
$350,700
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.
Frequently Asked Questions
What type of property is this?
Shopping center - Five occupied tenant spaces share a newly replaced roof and 30 on-site parking spaces.
Where is this shopping center located?
The property is located at 34 Waterbury Road Prospect, 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: Five tenant spaces currently occupied; New roof installed throughout the plaza; 30 parking spaces: 12 front and 18 rear
