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    81 Main St Waterbury, CT 06702

    For Sale
    Contact for pricing

    180,000 SF Vacant Office, High Cap Rate

    Property size:
    180,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a substantial 180,000 square foot creative office portfolio situated on a prominent 1.56-acre lot in Waterbury, Connecticut's Central Business District (CBD). The property, located at 81-119 West Main Street, comprises five buildings, four of which are contiguous, creating a commanding presence on the Waterbury Green. The main structures, built in 1911 and extensively renovated in 1984, offer significant potential for redevelopment. An additional, approximately 3,500 square foot historic building, formerly the Mattituck Museum, adds to the property's unique character. The site includes six surface parking lots providing ample parking for 175 vehicles. The property is currently vacant, presenting a blank canvas for a variety of uses. Utilities include city water and sewer, Eversource electric, and Yankee Gas. AT&T data lines are available to the building. The property's CBD zoning allows for diverse development options. With a 10% cap rate, this offering represents a compelling return on investment for a discerning buyer. This is a rare chance to acquire a large-scale, centrally located property with significant redevelopment potential in a vibrant Connecticut city.

    Property Features for 81 Main St

    General Information

    Property type
    Office space
    Square Feet
    180,000 SF
    Class
    B
    Lot Size
    67,954 SF

    Building Details

    Year Built/Renovated
    1911/1984

    HighLights

    • 1.56‑acre site (includes additional lots)
    • 180,000± square feet gross building area (GBA)
    • Currently vacant
    • Central Business District (CBD) zoning
    • City of Waterbury water and sewer
    • Eversource electric service
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ashishs Arora Pulmonologist ATM (Sovereign Bank) Atm

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0425511
    Latitude
    41.5560475

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    FAQs

    What type of property is this?
    Office space - 180,000 SF Vacant Office, High Cap Rate
    Where is this office space located?
    The property is located at 81 Main St Waterbury, CT.
    What are key features of this property?
    This property features: 1.56-acre site (includes additional lots); 180,000± square feet gross building area (GBA); Currently vacant
    Request Owner's contact information
    81 Main St Waterbury, CT 06702
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    81 Main St Waterbury, CT 06702
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