Stand-Alone Retail/Restaurant
For Sale
Contact for pricing
702 Chase Pkwy, Waterbury, CT 06708
Freestanding retail/restaurant building with commercial/restaurant equipment in place, positioned for high visibility and traffic.
Property Size2,062 SF
Price / SF$278.86
Days on Market107
Property Features for 702 Chase Pkwy
General Information
Standard status
Active
Size
2,062 SF
Property subtype
RETAIL
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
Godin Property Brokers
(203) 577-2277
Listed By:
Michael Grieder · License #RES.0804179
(203) 910-3426
Source:
Moodyscre
Added: May 29
Changed: Aug 12
Last Checked: Sep 12 at 8:25AM
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 Godin Property Brokers
Investment Insights
Based on property information with market context.
This stand-alone retail/restaurant building is offered for sale and configured for immediate foodservice use, with commercial/restaurant equipment already in place. The property is sized at 2,062 square feet and presented as ready to open.
The site is located just off I-84 on busy West Main Street in Waterbury, delivering strong visibility. It also sits adjacent to Mattatuck Community College, supporting a high-traffic retail and dining environment.
Whether you’re establishing a new concept or continuing an existing operation, the current build-out and included equipment are positioned to help reduce initial setup time.
The site is located just off I-84 on busy West Main Street in Waterbury, delivering strong visibility. It also sits adjacent to Mattatuck Community College, supporting a high-traffic retail and dining environment.
Whether you’re establishing a new concept or continuing an existing operation, the current build-out and included equipment are positioned to help reduce initial setup time.
Key Highlights
- Freestanding retail/restaurant building positioned for high visibility and traffic
- Located just off I‑84 on busy West Main Street in Waterbury
- Adjacent to Mattatuck Community College
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
$19,848
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
3.45%
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%
$396,960
$397.0K
Cap Rate 7%
$283,543
$283.5K
Cap Rate 9%
$220,533
$220.5K
Market Conditions
NOI Build-Up for 2,062 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
$28.5K $13.80/SF
− Vacancy
−$2.0K −$0.97/SF
EGI
$26.5K $12.83/SF
− OpEx
−$6.6K −$3.21/SF
NOI
$19.8K $9.63/SF
Area
Waterbury, CT
Vacancy
7.00%
Lease Rate
$13.80 /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%
$396,960
Cap Rate 7%
$283,543
Cap Rate 9%
$220,533
Alternative Uses
Best Use
Specialty Retail
$283.5K
$248.1K – $330.8K
NOI $19,848 @ 7.0% cap · market cap 3.45%
Second Best
Retail
$249.0K
$217.9K – $290.6K
NOI $17,433 @ 7.0% cap · market cap 3.03%
Theoretical Best
Office A
$547.2K
$478.8K – $638.4K
NOI $38,304 @ 7.0% cap · market cap 6.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
788
Businesses Nearby
40k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 67%
Shops & Services 24%
Hotels & Casinos 6%
Electronics 3%
Starbucks
Dining
16,184 visits/mo
0.4 miles
Wayback Burgers
Dining
7,748 visits/mo
0.4 miles
TD Bank
Shops & Services
6,132 visits/mo
0.4 miles
MyEyeDr.
Shops & Services
3,227 visits/mo
0.4 miles
SUBWAY
Dining
2,640 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Freestanding retail/restaurant building with commercial/restaurant equipment in place, positioned for high visibility and traffic.
Where is this conventional restaurant located?
The property is located at 702 Chase Pkwy Waterbury, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Freestanding retail/restaurant building positioned for high visibility and traffic; Located just off I‑84 on busy West Main Street in Waterbury; Adjacent to Mattatuck Community College
