Retail/Office Strip Center For
For Sale
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485 & 497 Watertown Ave, Waterbury, CT 06708
Recently constructed retail/office strip center available for purchase.
Property Size5,200 SF
Price / SF$153.65
Days on Market2870
Property Features for 485 & 497 Watertown Ave
General Information
Standard status
Active
Size
5,200 SF
Property subtype
Office, Retail
Zoning
CA
Occupancy
100%
Building Details
Year Built
2009
Tenancy
Multi
Listing Agency:
Drubner Commercial Real Estate Services
Listed By:
David Theroux · License #CT REB.0677995
(203) 753-4116
Source:
Crexi
Added: Nov 29, 2018
Changed: Oct 8
Last Checked: Oct 7 at 11:24AM
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 Drubner Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This recently constructed retail and office strip center is available for sale. The property encompasses 5,200 square feet. Taxes are $4.72 per square foot. The property is located at 485 & 497 Watertown Ave, Waterbury, CT 06708.
Key Highlights
- Recently Constructed
- Retail / Office Strip Center
- Built in 2009
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,964
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$879,280
$879.3K
Cap Rate 7%
$628,057
$628.1K
Cap Rate 9%
$488,489
$488.5K
Market Conditions
NOI Build-Up for 5,200 SF
Gross rent
$68.6K $13.20/SF
− Vacancy
−$5.8K −$1.12/SF
EGI
$62.8K $12.08/SF
− OpEx
−$18.8K −$3.62/SF
NOI
$44.0K $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 Rate 5%
$879,280
Cap Rate 7%
$628,057
Cap Rate 9%
$488,489
Alternative Uses
Best Use
Retail
$628.1K
$549.6K – $732.7K
NOI $43,964 @ 7.0% cap · market cap 5.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,595 @ 7.0% cap · market cap 12.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
68k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 80%
Shops & Services 19%
Electronics 1%
Wendy's
Dining
22,067 visits/mo
0.4 miles
Dunkin' Donuts
Dining
8,899 visits/mo
0.1 miles
Dunkin' Donuts
Dining
8,824 visits/mo
0.4 miles
Citgo
Shops & Services
7,810 visits/mo
0.0 miles
Burger King
Dining
6,746 visits/mo
0.4 miles
Demographics for 06708, CT
30,345
Population
13,061
Households
2.3
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
9.4 sq mi
ZIP Area
3,228
Density / Sq Mi
$63,705
Median Household Income
$40,515
Median Earnings
$1,275
Median Rent
$196,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Recently constructed retail/office strip center available for purchase.
Where is this strip mall located?
The property is located at 485 & 497 Watertown Ave Waterbury, CT.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Recently Constructed; Retail / Office Strip Center; Built in 2009
