Two-Unit Office
For Sale
Contact for pricing
509 Wolcott Rd, Wolcott, CT 06716
Main-level suites include additional lower-level space near a signalized commercial corridor.
Property Size3,260 SF
Price / SF$182.52
Days on Market462
Property Features for 509 Wolcott Rd
General Information
Standard status
Active
Size
3,260 SF
Property subtype
OFFICE
Additional Details
Road Access
Yes
Listing Agency:
Matthews Commercial Properties
(203) 509-9512
Listed By:
Gerry Matthews · License #REB.0754503
(203) 509-9512
Source:
Moodyscre
Added: May 28, 2025
Changed: Aug 31
Last Checked: Aug 31 at 4:17PM
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 Matthews Commercial Properties
Investment Insights
Based on property information with market context.
This 3,260-square-foot office property features two units on the main level along with additional space below grade. The configuration supports medical office, retail, and professional-service uses, providing separate areas for occupants or business functions.
The property is located at 509 Wolcott Rd on a major road with a traffic light, offering direct access within an established commercial and medical area. Its combination of main-level suites and lower-level space provides a practical framework for office users seeking room for operations, storage, or further customization.
The property is located at 509 Wolcott Rd on a major road with a traffic light, offering direct access within an established commercial and medical area. Its combination of main-level suites and lower-level space provides a practical framework for office users seeking room for operations, storage, or further customization.
Key Highlights
- 3,260‑square‑foot office property
- Two‑unit layout on the main level
- Additional lower‑level space
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
$42,103
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
7.08%
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%
$842,060
$842.1K
Cap Rate 7%
$601,471
$601.5K
Cap Rate 9%
$467,811
$467.8K
Market Conditions
NOI Build-Up for 3,260 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
$68.5K $21.00/SF
− Vacancy
−$12.3K −$3.78/SF
EGI
$56.1K $17.22/SF
− OpEx
−$14.0K −$4.31/SF
NOI
$42.1K $12.92/SF
Area
Waterbury, CT
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$842,060
Cap Rate 7%
$601,471
Cap Rate 9%
$467,811
Alternative Uses
Best Use
Office B
$601.5K
$526.3K – $701.7K
NOI $42,103 @ 7.0% cap · market cap 7.08%
Second Best
Healthcare Medical
$586.1K
$512.9K – $683.8K
NOI $41,029 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$865.1K
$757.0K – $1.01M
NOI $60,558 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
315
Businesses Nearby
Explore this area
Business Placement
Demographics for 06716, CT
15,996
Population
6,337
Households
2.5
Avg Household Size
46
Median Age
36%
College-Educated
95%
High-School Grad
20.2 sq mi
ZIP Area
792
Density / Sq Mi
$114,529
Median Household Income
$56,463
Median Earnings
$1,650
Median Rent
$299,400
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 units - Main-level suites include additional lower-level space near a signalized commercial corridor.
Where is this office units located?
The property is located at 509 Wolcott Rd Wolcott, CT.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 3,260‑square‑foot office property; Two‑unit layout on the main level; Additional lower‑level space
