Six-Unit Storefront
For Sale
$550,000
872 Bank St, Waterbury, CT 06708
Fully occupied commercial building with tenant-paid utilities and access to major regional routes.
Property Size5,320 SF
Days on Market11
Property Features for 872 Bank St
General Information
Standard status
Active
Size
5,320 SF
Property subtype
Commercial
Occupancy
100%
Site & Location
Traffic Count
11,300 vehicles/day
Highway Access
No
Utilities to Site
Yes
Building Details
Building Size
5,320 SF
Year Built
1900
Stories
1
Tenancy
Multi
Abandoned
No
Listing Agency:
OXFORD REALTY
(203) 314-4219
Listed By:
Amanda R. Faroni-Sheehan · License #REB.0793328CT
(203) 314-4219
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 21 at 12:55PM
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 OXFORD REALTY
Investment Insights
Based on property information with market context.
Built in 1900, this storefront property contains six commercial units and is currently 100% occupied. Most occupants are long-term tenants, while separate tenant-paid utilities support a straightforward ownership structure. On-street parking serves the building.
The property fronts Bank Street in Waterbury’s commercial corridor, where an estimated 11,300 vehicles pass daily. Access to I-84, Route 8, Downtown Waterbury, and nearby commercial districts connects the site with Greater Waterbury and surrounding areas. The corridor includes retail, service, residential, and other commercial uses. Walk Score is 72, described as Very Walkable; Bike Score is 37, and Transit Score is 39.
The property fronts Bank Street in Waterbury’s commercial corridor, where an estimated 11,300 vehicles pass daily. Access to I-84, Route 8, Downtown Waterbury, and nearby commercial districts connects the site with Greater Waterbury and surrounding areas. The corridor includes retail, service, residential, and other commercial uses. Walk Score is 72, described as Very Walkable; Bike Score is 37, and Transit Score is 39.
Key Highlights
- Six commercial units with 100% occupancy
- Majority of tenants are long‑term occupants
- Separate utilities are paid by tenants
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
$44,978
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
8.18%
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%
$899,560
$899.6K
Cap Rate 7%
$642,543
$642.5K
Cap Rate 9%
$499,756
$499.8K
Market Conditions
NOI Build-Up for 5,320 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
$70.2K $13.20/SF
− Vacancy
−$6.0K −$1.12/SF
EGI
$64.3K $12.08/SF
− OpEx
−$19.3K −$3.62/SF
NOI
$45.0K $8.45/SF
Area
Waterbury, CT
Vacancy
8.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$899,560
Cap Rate 7%
$642,543
Cap Rate 9%
$499,756
Alternative Uses
Best Use
Retail
$642.5K
$562.2K – $749.6K
NOI $44,978 @ 7.0% cap · market cap 8.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,824 @ 7.0% cap · market cap 17.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11,300 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,432
Businesses Nearby
60k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 81%
Shops & Services 16%
Dining 3%
The Home Depot
Home Improvements & Furnishings
48,819 visits/mo
0.3 miles
Exxon
Shops & Services
7,840 visits/mo
0.3 miles
PetSmart
Shops & Services
1,871 visits/mo
0.4 miles
La Fogata
Dining
1,828 visits/mo
0.5 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
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Fully occupied commercial building with tenant-paid utilities and access to major regional routes.
Where is this storefront property located?
The property is located at 872 Bank St Waterbury, CT.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Six commercial units with 100% occupancy; Majority of tenants are long‑term occupants; Separate utilities are paid by tenants
