Two-Building Mixed-Use
For Sale
$715,000
49 Hill Street, Waterbury, CT 06704
Commercial For Sale, Waterbury, CT
Property Size4,024 SF
Lot Size0.15 Acres
Price / SF$177.68
Days on Market138
Property Features for 49 Hill Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RM
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 5, Bathroom 2, Bathroom 4, Bathroom 1, Bathroom 3
Parking
3
Interior features
Living Space Available,Window Display
Lot features
Level Lot
Directions
North Main to Hill
Subdivision
North End
Standard status
Active
Size
4,024 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
10894
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1892
Floors in Building
3
Flooring type
Tile
Listing Agency:
Ghent Realty Advisors
(203) 597-1077
Listed By:
Robert Ghent
(203) 543-2847
Added: Jun 5
Changed: Oct 18
Last Checked: Oct 20 at 4:06PM
MLS# 24181532
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
The property contains 4,024 square feet across two buildings on a 0.15-acre lot. One building has two three-bedroom apartments above a retail space; the second contains two additional three-bedroom apartments. Both buildings received interior and exterior renovations, including new mechanical systems and appliances. Two units are unoccupied and in rent-ready condition.
The site is zoned RM and has public water and sewer service. The street-level retail space includes window display and living space, with tile flooring and baseboard heating listed among the property features.
The site is zoned RM and has public water and sewer service. The street-level retail space includes window display and living space, with tile flooring and baseboard heating listed among the property features.
Key Highlights
- 4,024 square feet across two buildings on a 0.15‑acre lot
- Four three‑bedroom apartments and one street‑level retail space
- First building has two apartments above the retail space; second building contains two apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,892
Cap Rate
6.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,840
$977.8K
Cap Rate 7%
$698,457
$698.5K
Cap Rate 9%
$543,244
$543.2K
Market Conditions
NOI Build-Up for 4,024 SF
Gross rent
$86.9K $21.60/SF
− Vacancy
−$8.7K −$2.16/SF
EGI
$78.2K $19.44/SF
− OpEx
−$29.3K −$7.29/SF
NOI
$48.9K $12.15/SF
Area
Waterbury, CT
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,840
Cap Rate 7%
$698,457
Cap Rate 9%
$543,244
Alternative Uses
Best Use
Mixed Use
$698.5K
$611.2K – $814.9K
NOI $48,892 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$583.5K
$510.5K – $680.7K
NOI $40,842 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.07M
$934.4K – $1.25M
NOI $74,750 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,581
Businesses Nearby
Explore this area
Business Placement
Demographics for 06704, CT
27,300
Population
12,987
Households
2.1
Avg Household Size
34
Median Age
14%
College-Educated
78%
High-School Grad
8.1 sq mi
ZIP Area
3,370
Density / Sq Mi
$47,848
Median Household Income
$33,090
Median Earnings
$1,202
Median Rent
$178,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four apartments and a street-level retail space are distributed across two separate buildings.
Where is this mixed-use property located?
The property is located at 49 Hill Street Waterbury, CT.
What is the asking price?
The asking price for this property is $715,000.
What are key features of this property?
This property features: 4,024 square feet across two buildings on a 0.15‑acre lot; Four three‑bedroom apartments and one street‑level retail space; First building has two apartments above the retail space; second building contains two apartments
