Mixed-Use Investment
New
For Sale
$2,650,000
493 Meadow St, Waterbury, CT 06702
Brick buildings combine apartments, leased storefronts, and dedicated parking with separately metered units.
Property Size6,520 SF
Price / SF$406.44
Days on Market5
Property Features for 493 Meadow St
General Information
Standard status
Active
Size
6,520 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,363
Building Details
Year Built
1900
Listing Agency:
Sky Realty Group
(413) 333-7776
Listed By:
Vianeliz Henriquez
Source:
Ma-cthomes
Added: Aug 4
Changed: Aug 5
Last Checked: Aug 8 at 2:28AM
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 Sky Realty Group
Investment Insights
Based on property information with market context.
This mixed-use property comprises 27 units across two brick buildings and includes a dedicated parking lot. The residential component contains 21 apartments, while six retail spaces are fully leased. At 343 West Main Street, the four-story, 20,428-square-foot building includes 17 apartments and four retail suites, with a mix of one-, two-, and three-bedroom residences. The three-story building at 493 Meadow Street measures 6,520 square feet and contains four apartments plus two retail spaces.
Residential units participate in the Mod Rehab Housing Assistance Program. Commercial occupants include an appliance retailer, tax and insurance agency, bar and grill, salon, and convenience stores. Capital work includes partial roof replacements completed in 2022 and 15 recently replaced high-efficiency heating systems. Residential and commercial units are separately metered, with occupants responsible for their own utilities. The property is identified at 493 Meadow St, Waterbury, CT 06702 and was built in 1900.
Residential units participate in the Mod Rehab Housing Assistance Program. Commercial occupants include an appliance retailer, tax and insurance agency, bar and grill, salon, and convenience stores. Capital work includes partial roof replacements completed in 2022 and 15 recently replaced high-efficiency heating systems. Residential and commercial units are separately metered, with occupants responsible for their own utilities. The property is identified at 493 Meadow St, Waterbury, CT 06702 and was built in 1900.
Key Highlights
- 27‑unit mix of 21 apartments and 6 retail spaces
- Two brick buildings totaling 26,948 square feet
- 343 West Main Street includes 17 apartments and 4 fully leased retail spaces
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
$79,218
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
2.99%
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%
$1,584,360
$1.6M
Cap Rate 7%
$1,131,686
$1.1M
Cap Rate 9%
$880,200
$880.2K
Market Conditions
NOI Build-Up for 6,520 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
$140.8K $21.60/SF
− Vacancy
−$14.1K −$2.16/SF
EGI
$126.7K $19.44/SF
− OpEx
−$47.5K −$7.29/SF
NOI
$79.2K $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 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%
$1,584,360
Cap Rate 7%
$1,131,686
Cap Rate 9%
$880,200
Alternative Uses
Best Use
Mixed Use
$1.13M
$990.2K – $1.32M
NOI $79,218 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$945.4K
$827.2K – $1.10M
NOI $66,175 @ 7.0% cap · market cap 2.50%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,116 @ 7.0% cap · market cap 4.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Brick buildings combine apartments, leased storefronts, and dedicated parking with separately metered units.
Where is this mixed-use property located?
The property is located at 493 Meadow St Waterbury, CT.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: 27‑unit mix of 21 apartments and 6 retail spaces; Two brick buildings totaling 26,948 square feet; 343 West Main Street includes 17 apartments and 4 fully leased retail spaces
