Retail Plaza Prime
For Sale
Contact for pricing
425 Bank St, Waterbury, CT
69,104 SF retail plaza with 26,040 SF available.
Property Size26,040 SF
Lot Size1.87 Acres
Price / SF$268.63
Days on Market397
Property Features for 425 Bank St
General Information
Standard status
Active
Size
26,040 SF
Lot size
1.87 Acres
Property subtype
RETAIL
Listing Agency:
Godin Property Brokers
(203) 577-2277
Listed By:
Brian Godin
Source:
Moodyscre
Added: Jul 23, 2025
Changed: Aug 21
Last Checked: Aug 23 at 12:46PM
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 Godin Property Brokers
Investment Insights
Based on property information with market context.
This 69,104 square foot retail plaza is situated in a prime location. The property has 26,040 square feet available for lease. It benefits from high visibility adjacent to Urban Air and Home Depot and offers I-84 visibility with ample parking. This property is suitable for investors and users.
Key Highlights
- Prime location retail plaza
- 69,104 +/- sf retail plaza
- 26,040 +/- sf available for lease**
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
$220,158
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
3.15%
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%
$4,403,160
$4.4M
Cap Rate 7%
$3,145,114
$3.1M
Cap Rate 9%
$2,446,200
$2.4M
Market Conditions
NOI Build-Up for 26,040 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
$343.7K $13.20/SF
− Vacancy
−$29.2K −$1.12/SF
EGI
$314.5K $12.08/SF
− OpEx
−$94.4K −$3.62/SF
NOI
$220.2K $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%
$4,403,160
Cap Rate 7%
$3,145,114
Cap Rate 9%
$2,446,200
Alternative Uses
Best Use
Retail
$3.15M
$2.75M – $3.67M
NOI $220,158 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.91M
$6.05M – $8.06M
NOI $483,719 @ 7.0% cap · market cap 6.92%
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
215k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 38%
Home Improvements & Furnishings 23%
Dining 21%
Apparel 14%
The Home Depot
Home Improvements & Furnishings
48,819 visits/mo
0.2 miles
Five Below
Shops & Services
31,326 visits/mo
0.5 miles
DICK'S Sporting Goods
Apparel
30,074 visits/mo
0.5 miles
Dunkin' Donuts
Dining
23,411 visits/mo
0.2 miles
Chili's Grill & Bar
Dining
20,070 visits/mo
0.4 miles
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
- Old but New — 233 Congress Ave #1, Waterbury, CT 06708
- 500 Bank Street Center — 500 Bank St, Waterbury, CT 06708
- One Exchange Place — 21 W Main St, Waterbury, CT 06702
- Tanya Clark — 64 e liberty st, waterbury, ct 06706
Frequently Asked Questions
What type of property is this?
Shopping center - 69,104 SF retail plaza with 26,040 SF available.
Where is this shopping center located?
The property is located at 425 Bank St Waterbury, CT.
What is the asking price?
The asking price for this property is $6,995,000.
What are key features of this property?
This property features: Prime location retail plaza; 69,104 +/- sf retail plaza; 26,040 +/- sf available for lease**
