Multi-Level Mixed-Use
For Sale
$1,200,000
487 Meadow St, Waterbury, CT 06702
Flexible commercial space with municipal utilities and paved road access near downtown amenities.
Property Size11,458 SF
Days on Market9
Property Features for 487 Meadow St
General Information
Standard status
Active
Size
11,458 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Building Details
Building Size
11,458 SF
Year Built
1880
Buildings
1
Listing Agency:
Five Stars Realty
Listed By:
Guillermo A. Araujo · License #REB.0794500
(860) 794-5353
Source:
Elliman
Added: Sep 19
Last Checked: Sep 26 at 9:54AM
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 Five Stars Realty
Investment Insights
Based on property information with market context.
This multi-level mixed-use property offers flexible commercial space suitable for office, retail, or other commercial applications. Constructed in 1880, the building provides a substantial existing structure for a range of business or investment uses. Municipal utilities and paved road access support day-to-day operations.
The property is located at 487 Meadow St in Downtown Waterbury, with access to major highways, public transportation, local businesses, restaurants, shopping, and other downtown amenities. Walk Score is 77, Transit Score is 53, and Bike Score is 40, reflecting walkable surroundings with available transit and moderate bicycle access. Zoning, permitted uses, and development opportunities require independent buyer due diligence.
The property is located at 487 Meadow St in Downtown Waterbury, with access to major highways, public transportation, local businesses, restaurants, shopping, and other downtown amenities. Walk Score is 77, Transit Score is 53, and Bike Score is 40, reflecting walkable surroundings with available transit and moderate bicycle access. Zoning, permitted uses, and development opportunities require independent buyer due diligence.
Key Highlights
- Multi‑level mixed‑use building constructed in 1880
- Flexible space for office, retail, or other commercial uses
- Municipal utilities serving the property
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
$96,873
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
8.07%
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%
$1,937,460
$1.9M
Cap Rate 7%
$1,383,900
$1.4M
Cap Rate 9%
$1,076,367
$1.1M
Market Conditions
NOI Build-Up for 11,458 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
$151.2K $13.20/SF
− Vacancy
−$12.9K −$1.12/SF
EGI
$138.4K $12.08/SF
− OpEx
−$41.5K −$3.62/SF
NOI
$96.9K $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%
$1,937,460
Cap Rate 7%
$1,383,900
Cap Rate 9%
$1,076,367
Alternative Uses
Best Use
Office B
$2.11M
$1.85M – $2.47M
NOI $147,980 @ 7.0% cap · market cap 12.33%
Second Best
Mixed Use
$1.99M
$1.74M – $2.32M
NOI $139,215 @ 7.0% cap · market cap 11.60%
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $212,844 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,551
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial space with municipal utilities and paved road access near downtown amenities.
Where is this mixed-use property located?
The property is located at 487 Meadow St Waterbury, CT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Multi‑level mixed‑use building constructed in 1880; Flexible space for office, retail, or other commercial uses; Municipal utilities serving the property
