Mixed-Use Building with
New
For Sale
$1,449,000
734 E Main St, Waterbury, CT 06702
Apartments over commercial storefronts create a combined residential and business-use configuration.
Property Size7,284 SF
Price / SF$198.93
Days on Market5
Property Features for 734 E Main St
General Information
Standard status
Active
Size
7,284 SF
Property subtype
Commercial
Building Details
Year Built
1926
Buildings
4
Tenancy
Multi
Listing Agency:
CENTURY 21 Shutters & Sails
Listed By:
Eileen Godburn (860) 235-6111 (860) 331-1510
(860) 235-6111
Source:
Yourcthomeguide
Added: Aug 30
Changed: Sep 3
Last Checked: Sep 3 at 2:33AM
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 CENTURY 21 Shutters & Sails
Investment Insights
Based on property information with market context.
Located at 734 E Main St in Waterbury, this 7,284-square-foot mixed-use building was constructed in 1926. The property places four apartments above two commercial spaces, creating separate residential and storefront components within one building. One commercial unit remains leased after restaurant use, while the second is vacant. Two apartments are leased and two are vacant.
The property is offered only as part of a larger portfolio. The portfolio also includes a two-family property at 40 N Beacon St in Waterbury and a multifamily property at 13 Elm St in Meriden featuring two homes on one lot. The Meriden property includes two 2-bedroom units and two 3-bedroom units, with three of those four units leased.
The property is offered only as part of a larger portfolio. The portfolio also includes a two-family property at 40 N Beacon St in Waterbury and a multifamily property at 13 Elm St in Meriden featuring two homes on one lot. The Meriden property includes two 2-bedroom units and two 3-bedroom units, with three of those four units leased.
Key Highlights
- 7,284‑square‑foot mixed‑use building at 734 E Main St, Waterbury
- Built in 1926
- Four apartments positioned above two commercial 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
$88,501
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
6.11%
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%
$1,770,020
$1.8M
Cap Rate 7%
$1,264,300
$1.3M
Cap Rate 9%
$983,344
$983.3K
Market Conditions
NOI Build-Up for 7,284 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
$157.3K $21.60/SF
− Vacancy
−$15.7K −$2.16/SF
EGI
$141.6K $19.44/SF
− OpEx
−$53.1K −$7.29/SF
NOI
$88.5K $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%
$1,770,020
Cap Rate 7%
$1,264,300
Cap Rate 9%
$983,344
Alternative Uses
Best Use
Mixed Use
$1.26M
$1.11M – $1.48M
NOI $88,501 @ 7.0% cap · market cap 6.11%
Second Best
Apartment 5plus
$1.06M
$924.1K – $1.23M
NOI $73,929 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,308 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,681
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 - Apartments over commercial storefronts create a combined residential and business-use configuration.
Where is this mixed-use property located?
The property is located at 734 E Main St Waterbury, CT.
What is the asking price?
The asking price for this property is $1,449,000.
What are key features of this property?
This property features: 7,284‑square‑foot mixed‑use building at 734 E Main St, Waterbury; Built in 1926; Four apartments positioned above two commercial spaces
