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Property profile & analytics
FOR LEASE
Investment properties
228 Meadow St, Waterbury, CT 06702
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US15-1026695
For Lease
1 / 2
$16 SF/Yr
228 Meadow St, Waterbury, CT 06702
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Property summary
AI-generated overview
This exceptional four-story executive office building, located at 228 Meadow Street in Waterbury, Connecticut, offers a prime opportunity for businesses seeking sophisticated and functional workspace. Built in 2008, the building boasts a total of 20,858 square feet, with 3,065 square feet currently available for lease. The available space comprises one contiguous suite of 2,365 square feet, ideal for a variety of professional uses. The building features a desirable CBD zoning designation within New Haven County, ensuring convenient access to amenities and transportation. The property sits on a 0.21-acre lot and offers impressive 9-foot ceilings throughout. Each suite benefits from robust 200-amp power, making it suitable for businesses with significant technological needs. The building's multiple tenancy structure provides a dynamic and collaborative environment. This is a rare opportunity to secure high-quality office space in a thriving Connecticut city. The address is 228 Meadow Street, Waterbury, CT 06702. Contact us today to schedule a viewing and explore the possibilities.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
2008
Total area
20,160 SF
Lot
0.21 ac (9,148 SF)
Zoning code
CBD
APN
WBRY M:0293 B:0272 L:0004
UPID
US15-1026695
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Summa & Ryan Law Firm
-
Deeper View Counseling, PLLC Counselor Care Services
-
JEWISH HYPNOSIS Alternative Medicine Practice
-
Mr. Akiva Schmookler Foster Care Service Social Service Agency
-
Brian Pervis Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.44M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.43M
Blend (final)
Blend
$1.45M
Owner & transaction history
Meadow St Commons 2 LLC · 5 yrs held
Meadow St Commons 2 LLC
since 2021
Last sale
$1.5M
4 recorded transactions
Zoning & alternative use
CBD · Waterbury, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.0M
+82.6%
Auto repair, garage
$1.8M
+67.9%
Office building
$1.6M
+50.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Waterbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterbury submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,195,000
ML approach
$1,435,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,090,000
Current use
APARTMENT HOUSE (5+ UNITS)
$1,990,000
Change: +83% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,830,000
Change: +68% · Conversion: Difficult
OFFICE BUILDING
$1,640,000
Change: +51% · Conversion: Easy
RETAIL STORES
$1,635,000
Change: +50% · Conversion: Easy
WAREHOUSE, STORAGE
$1,185,000
Change: +9% · Conversion: Difficult
Blend value · Realmo final
$1.45M
Range $1.30M – $1.59M · ±10% · vs last sale $1.45M (Jan 27 2021)
Last sale anchor
$1.45M
Jan 27 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$72 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$55,356
Tax year 2023
Assessed value
$1,021,510
Assessed 2023
Previous assessed
$1,021,510
+0.0% YoY
Effective rate
5.42%
On assessed value
Assessed land
$197,540
Assessed improvement
$823,970
Applied tax rate
312.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
2008
Heating
CENTRAL
Buildings
1
Stories
4
Total area
20,160 SF
Lot
0.21 ac (9,148 SF)
Zoning code
CBD
APN
WBRY M:0293 B:0272 L:0004
UPID
US15-1026695
Jurisdiction
WATERBURY
Zoning & alternative use
CBD · Waterbury, CT
Zoning CBD · permitted uses
CBD · Waterbury, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waterbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$1.8M
OFFICE BUILDING
Est. value
$1.6M
RETAIL STORES
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.2M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2008
Heating
CENTRAL
Stories
4
Buildings
1
Lot
0.21 ac
Current owner
From public records · entity-resolved
Meadow St Commons 2 LLC
Entity
Mailing address
27 HOLMES AVE #1, WATERBURY, CT 06710-2413
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 27, 2021
$1,450,000
Meadow St Commons 2 LLC
Meadow Street Commons LLC
Warranty Deed
$1,087,500 · Thomaston Savings Bank
Apr 1, 2014
—
Meadow Street Commons LLC
Patriot National Bank
Grant Deed
—
Nov 1, 2004
—
228 Meadow Street Assoc
—
Deed Of Trust
related
$113,250 · Hillard N Einbindce
Sep 29, 2004
$130,000
228 Meadow Street Assoc
George,yvette E
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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