Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    157 Hillside Ave Waterbury, CT 06710

    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Profitable 25-bed facility, fully renovated.

    Property size:
    20,185 SF

    Property Features for 157 Hillside Ave

    General Information

    Property type
    Retirement homes
    Square Feet
    20,185 SF
    Class
    A
    Lot Size
    33,106 SF

    Building Details

    Year Renovated
    2011
    Buildings
    1
    Stories
    3
    Units
    25

    We can help!

    Listing Contact
    Dan Garofalo
    Dan Garofalo

    Listing Agency: Reno Properties Group, LLC Listing Agent: Dan Garofalo

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional investment opportunity presents the Carriage Manor Residential Care Facility, a thriving 25-bed senior living community located at 157 Hillside Ave, Waterbury, CT 06710, in New Haven County. The property boasts a Class A designation and encompasses 20,185 square feet across three stories within a single building situated on a 0.76-acre lot. Completely renovated in 2011 at a cost of $4,000,000, the facility currently operates at 100% occupancy, demonstrating a long-term stable investment potential. Key features include a full commercial kitchen, elevator access to all three floors, and a separate two-car garage with an attached three-bedroom apartment. Its convenient location between Hartford and Danbury ensures accessibility for residents and staff. The asking price for this turnkey business and real estate package is $6,500,000. This represents a rare opportunity to acquire a high-performing senior care facility with a proven track record of success and strong historical occupancy levels (99.9%). Detailed financial information is available upon request.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Carriage Manor LLC Nursing Home

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.046031217467
    Latitude
    41.561472337792

    Nearby Similar for Sale

    • New
      $499,900
      2,382 SF

      High-Visibility Commercial Property Opportunity

      Legacy property with high traffic, visibility, and potential.
      399 Wolcott Rd, Wolcott, CT 06716
      View Details
    • New
      $450,000
      2,450 SF

      Mixed-Use Property in Waterbury, CT

      Four units: three residential, one commercial space in Waterbury.
      210 Bishop St, Waterbury, CT 06704
      View Details
    • New
      $525,000
      3,900 SF

      Turnkey Restaurant & Bar Business

      Thriving restaurant/bar with high traffic location and excellent potential.
      1457 Meriden Rd, Wolcott, CT 06716
      View Details
    • New
      $575,000
      2,484 SF

      Turnkey Restaurant Business Opportunity

      Established restaurant with loyal customer base on busy Wolcott Road.
      524 Wolcott Rd, Wolcott, CT 06716
      View Details
    • New
      $320,000
      1,171 SF

      Versatile Commercial Building in Waterbury

      Solid commercial building with endless potential for various businesses.
      1005 Baldwin St, Waterbury, CT 06706
      View Details
    • New
      $300,000
      5,751 SF

      Waterbury Commercial Opportunity For Sale

      Mixed-use property in Waterbury's Central Business District.
      18 Brown St, Waterbury, CT 06702
      View Details
    • New
      $1,980,000
      13,878 SF

      Wolcott Retail Space For Sale

      Retail property in high-traffic Wolcott location with long-term tenants.
      1457 Meriden Rd, Wolcott, CT 06716
      View Details
    • $1,100,000
      6,560 SF

      Versatile Commercial Space Near I-84

      Adaptable commercial property with industrial and retail potential near I-84.
      649 Captain Neville Dr, Waterbury, CT 06705
      View Details
    • New
      $125,000
      880 SF

      Downtown Waterbury Commercial Space

      Versatile commercial space in high-traffic downtown Waterbury location.
      207 Bank St, Waterbury, CT 06702
      View Details
    • New
      $1,999,900
      Pending

      Waterbury Commercial Investment Opportunity

      Prime commercial property with income-generating potential in Waterbury, CT.
      510 Meriden Rd, Waterbury, CT 06705
      View Details
    • Contact for pricing
      772 SF

      Medical Office in Waterbury, CT

      Medical office with exam rooms, reception, and waiting area.
      60 Westwood Ave, Waterbury, CT 06708
      View Details
    • Contact for pricing
      772 SF

      Medical Office in Waterbury, CT

      Medical office with exam rooms, reception, and waiting area.
      60 Westwood Ave, Waterbury, CT 06708
      View Details

    FAQs

    What type of property is this?
    Retirement home - Profitable 25-bed facility, fully renovated.
    Where is this retirement home located?
    The property is located at 157 Hillside Ave Waterbury, CT.
    What is the asking price?
    The asking price for this property is $6,500,000.
    What are key features of this property?
    This property features: Exceptional business and real estate investment opportunity.; Long-term lease provides stable income stream.; Demonstrates nearly perfect occupancy history (99.9%).
    (860) 212-4030 Call to check price and availability
    Request Owner's contact information
    157 Hillside Ave Waterbury, CT 06710
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    157 Hillside Ave
    Waterbury, CT 06710
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    157 Hillside Ave Waterbury, CT 06710
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dan Garofalo
    Dan Garofalo
    Real Estate License ID: REB.0756346
    (860) 212-4030 (860) 666-7400 (860) 573-9227
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!