Multi-Level Office
For Sale
$285,000
447 Wolcott Street, Waterbury, CT 06705
Flexible professional space with accessible entry, private offices, conference areas, and kitchenette in a CA-zoned building.
Property Size2,284 SF
Price / SF$124.78
Days on Market66
Property Features for 447 Wolcott Street
General Information
Standard status
Active
Size
2,284 SF
Total Parking Spaces
4
Property subtype
Commercial
Zoning
CA
Additional Details
Road Access
Yes
Office Units
1
Taxes and HOA fees
Annual Taxes
$6,826
Amenities
handicap-accessible main level
conference room
private office
kitchenette
half bath
cathedral-style office
lounging area
Building Details
Building Size
2,284 SF
Year Built
1950
Buildings
1
Stories
3
Listing Agency:
William Raveis Real Estate
(203) 560-0753
Listed By:
Pam Famiglietti · License #RES.0767352
(203) 560-0753
Source:
Westshorerealty
Added: Jun 16
Changed: Aug 17
Last Checked: Aug 19 at 3:40PM
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 William Raveis Real Estate
Investment Insights
Based on property information with market context.
This 2,284-square-foot office building offers a multi-level layout suited to professional and business operations. The accessible main level includes an open reception or retail area, conference room, private office, kitchenette, and half bath. Additional private offices, a conference area, and a second half bath are located on the second floor. The third level adds a distinctive cathedral-style office with a lounge area.
Built in 1950, the property is located at 447 Wolcott Street in Waterbury, Connecticut. The building is zoned CA and combines office functionality with a street-level area that can accommodate reception or retail use. An adjacent landowner is also offering the properties on both sides of the building, totaling 1.55 acres, for potential parking expansion or future development.
Built in 1950, the property is located at 447 Wolcott Street in Waterbury, Connecticut. The building is zoned CA and combines office functionality with a street-level area that can accommodate reception or retail use. An adjacent landowner is also offering the properties on both sides of the building, totaling 1.55 acres, for potential parking expansion or future development.
Key Highlights
- 2,284 SF office building at 447 Wolcott Street
- Three‑level layout with private offices and conference areas
- Accessible main level with open reception or retail area
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
$19,310
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
6.78%
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%
$386,200
$386.2K
Cap Rate 7%
$275,857
$275.9K
Cap Rate 9%
$214,556
$214.6K
Market Conditions
NOI Build-Up for 2,284 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
$30.1K $13.20/SF
− Vacancy
−$2.6K −$1.12/SF
EGI
$27.6K $12.08/SF
− OpEx
−$8.3K −$3.62/SF
NOI
$19.3K $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%
$386,200
Cap Rate 7%
$275,857
Cap Rate 9%
$214,556
Alternative Uses
Best Use
Office B
$421.4K
$368.7K – $491.6K
NOI $29,498 @ 7.0% cap · market cap 10.35%
Second Best
Retail
$275.9K
$241.4K – $321.8K
NOI $19,310 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$606.1K
$530.4K – $707.1K
NOI $42,428 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible professional space with accessible entry, private offices, conference areas, and kitchenette in a CA-zoned building.
Where is this office building located?
The property is located at 447 Wolcott Street Waterbury, CT.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2,284 SF office building at 447 Wolcott Street; Three‑level layout with private offices and conference areas; Accessible main level with open reception or retail area
