Building Details

Year Renovated 2011

Buildings 1

Stories 3

Units 25

Listing Agency: Reno Properties Group, LLC

Listed By: Dan Garofalo · License #REB.0756346 Show Phone

Source: Crexi

Added: Nov 12, 2024 Changed: Oct 9 Last Checked: Oct 19 at 6:29AM

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Investment Insights

Based on property information with market context.

The Carriage Manor Residential Care Facility is available for sale, including both the business and real estate. The 25-bed facility is currently at 100% occupancy. The property was fully renovated in 2011 at a cost of $4,000,000. The building has elevator access to all 3 floors and includes a full commercial kitchen. A separate two-car garage is also present, which includes its own three-bedroom apartment. The property is conveniently located between Hartford and Danbury. The property size is 20,185 square feet.

Key Highlights

• Fully renovated in 2011 for $4,000,000
• 25‑bed facility at 100% occupancy
• Business and Real Estate included in sale

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$204,867

Cap Rate

3.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,097,340 $4.1M

Cap Rate 7%

$2,926,671 $2.9M

Cap Rate 9%

$2,276,300 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,185 SF

Gross rent

$399.7K $19.80/SF

− Vacancy

−$27.2K −$1.35/SF

EGI

$372.5K $18.45/SF

− OpEx

−$167.6K −$8.30/SF

NOI

$204.9K $10.15/SF

Area

Waterbury, CT

Vacancy

6.80%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,097,340

Cap Rate 7%

$2,926,671

Cap Rate 9%

$2,276,300

Alternative Uses

Best Use

Apartment 5plus

$2.93M

$2.56M – $3.41M (±1% cap)

NOI $204,867 @ 7.0% cap · market cap 3.41%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$5.36M

$4.69M – $6.25M (±1% cap)

NOI $374,957 @ 7.0% cap · market cap 6.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Carriage Manor LLC Nursing Home

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Travel Agency Locksmith Butcher Veterinary Clinic Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,498

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 06710, CT

11,056

Population

4,515

Households

2.4

Avg Household Size

32

Median Age

15%

College-Educated

71%

High-School Grad

1.0 sq mi

ZIP Area

11,056

Density / Sq Mi

$42,774

Median Household Income

$33,880

Median Earnings

$1,135

Median Rent

$219,600

Median Home Value

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Assisted living facility - 25-bed residential care facility with apartment, fully renovated in 2011.

Where is this assisted living facility located?

The property is located at 157 Hillside Ave Waterbury, CT.

What is the asking price?

The asking price for this property is $6,000,000.

What are key features of this property?

This property features: Fully renovated in 2011 for $4,000,000; 25‑bed facility at 100% occupancy; Business and Real Estate included in sale