Warehouse With Gated
For Sale
Contact for pricing
94 Union City Road, Prospect, CT 06712
Three-unit industrial building with separate utilities, oversized bay doors, and a secured outdoor storage area.
Property Size10,635 SF
Price / SF$177.72
Days on Market131
Property Features for 94 Union City Road
General Information
Standard status
Active
Size
10,635 SF
Property subtype
Industrial
Zoning
IND-1
Investment Type
Stabilized
Net Operating Income
$107,702
Site & Location
Road Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Utilities to Site
Yes
Building Details
Year Built
1988
Buildings
1
Stories
1
Units
3
Tenancy
Multi
Building Size
10,635 SF
Listing Agency:
Godin Property Brokers LLC
(203) 577-2277
Listed By:
Mary Buckley · License #RES.0778434
Source:
Crexi
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 30 at 4:15PM
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 LLC
Investment Insights
Based on property information with market context.
Built in 1988, this 10,635 +/- SF warehouse property contains three units, each served by separate utilities. The building includes oversized bay doors and is accompanied by a large gated yard, providing a combination of enclosed industrial space and secured exterior area.
The property is zoned IND-1 and fronts busy RT 68 at 94 Union City Road in Prospect, Connecticut. Its multi-unit layout and separate utility service offer a practical configuration for industrial occupancy or owner-user operations.
The property is zoned IND-1 and fronts busy RT 68 at 94 Union City Road in Prospect, Connecticut. Its multi-unit layout and separate utility service offer a practical configuration for industrial occupancy or owner-user operations.
Key Highlights
- 10,635 +/- SF warehouse building constructed in 1988
- Three units with separate utilities
- Oversized bay doors
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
$120,780
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
6.39%
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%
$2,415,600
$2.4M
Cap Rate 7%
$1,725,429
$1.7M
Cap Rate 9%
$1,342,000
$1.3M
Market Conditions
NOI Build-Up for 10,635 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
$204.2K $19.20/SF
− Vacancy
−$18.4K −$1.73/SF
EGI
$185.8K $17.47/SF
− OpEx
−$65.0K −$6.12/SF
NOI
$120.8K $11.36/SF
Area
Waterbury, CT
Vacancy
9.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
35.00%
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%
$2,415,600
Cap Rate 7%
$1,725,429
Cap Rate 9%
$1,342,000
Alternative Uses
Best Use
Flex RnD
$1.73M
$1.51M – $2.01M
NOI $120,780 @ 7.0% cap · market cap 6.39%
Second Best
Warehouse
$1.39M
$1.22M – $1.62M
NOI $97,385 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$2.82M
$2.47M – $3.29M
NOI $197,556 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 06712, CT
9,344
Population
3,546
Households
2.6
Avg Household Size
47
Median Age
37%
College-Educated
95%
High-School Grad
14.2 sq mi
ZIP Area
658
Density / Sq Mi
$125,556
Median Household Income
$70,658
Median Earnings
$1,888
Median Rent
$350,700
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- American Document Destruction — 123 Union City Rd, Prospect, CT 06712
- A Sure Thing Storage — 38 Industrial Rd, Prospect, CT 06712
Frequently Asked Questions
What type of property is this?
Warehouse - Three-unit industrial building with separate utilities, oversized bay doors, and a secured outdoor storage area.
Where is this warehouse located?
The property is located at 94 Union City Road Prospect, CT.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: 10,635 +/- SF warehouse building constructed in 1988; Three units with separate utilities; Oversized bay doors
