Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    975 Meriden Rd Waterbury, CT 06705
    Back to Search
    Property profile & analytics

    975 Meriden Rd, Waterbury, CT 06705

    View on Map
    • Commercial real estate
    • 9,980 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • 975 Chelsea Square Condominiums / Condominium Complex

    Property Details for 975 Meriden Rd

    Year built
    1987
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents an eleven-unit condo portfolio situated at 975 Meriden Road, Waterbury, CT. The property encompasses a total of 9,980 square feet and is located within a high-income area of Waterbury, characterized by high pedestrian traffic and a bustling retail corridor. The portfolio comprises a mix of one- and two-bedroom units, all within a well-maintained condo complex. A significant value-add potential exists due to below-market rents and updated interiors. This offering provides a unique advantage: minimal landlord responsibilities. The condo association handles the comprehensive management of the entire complex, offering a hands-off approach for the owner. The asking price for this lucrative investment is $1,600,000. This property represents a compelling opportunity for investors seeking a stable, low-maintenance, high-return investment in a desirable Connecticut location. The property is offered as a complete portfolio, providing immediate income generation and significant long-term growth potential. The location's high visibility and pedestrian traffic ensure consistent occupancy and rental income. This is a rare chance to acquire a substantial ownership stake in a thriving Waterbury commercial complex.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9864
    Latitude
    41.5532

    Comparable in this City

    • Value Estimation by Request
      0.69 Acres

      Main St

      Land
      0 Main St, Waterbury, CT 06705
      View Details
    • Value Estimation by Request
      3.00 Acres

      1520 Meriden Rd

      Land
      1520 Meriden Rd, Wolcott, CT 06705
      View Details
    • Value Estimation by Request
      16,632 SF

      1215 Meriden Rd

      Flex space
      1215 Meriden Rd, Wolcott, CT 06705
      View Details
    • Value Estimation by Request
      18.01 Acres

      939 Wolcott St

      COMMERCIAL (GENERAL)
      939 Wolcott St, Waterbury, CT 06705-1301
      View Details
    • Value Estimation
      $10,420,000
      124,890 SF

      881 Wolcott St

      COMMERCIAL (GENERAL)
      881 Wolcott St, Waterbury, CT 06705-1365
      View Details
    • Value Estimation by Request
      31.75 Acres

      950 Wolcott St

      COMMERCIAL (GENERAL)
      950 Wolcott St, Waterbury, CT 06705
      View Details

    Similar Nearby for Sale

    • $1,100,000
      8,349 SF

      Prime Waterbury 6-Unit Multifamily

      Six-unit brick building, high ROI potential.
      1615 Main St, Waterbury, CT 06705
      View Details
    • $1,100,000
      6,560 SF

      Versatile Commercial Space Near I-84

      Adaptable commercial property with industrial, retail, and unfinished spaces.
      649 Captain Neville Dr, Waterbury, CT 06705
      View Details
    • $275,000
      1,200 SF

      Restaurant Ready for New Operator

      Restaurant available for sale, ready for a new operator.
      127 Scott Rd, Waterbury, CT 06705
      View Details
    • $350,000

      Wolcott Street Office/Retail Building

      Well-maintained office/retail building on busy Wolcott Street.
      447 Wolcott St, Waterbury, CT 06705
      View Details
    • Contact for pricing
      3,228 SF

      Automotive Garage on East Main

      Automotive service garage in Waterbury, currently leased.
      1833 E Main St, Waterbury, CT 06705
      View Details
    • Contact for pricing
      20,000 SF

      20,000 SF High Bay Warehouse

      Freestanding warehouse/manufacturing facility on 3.5 acres.
      185 Interstate Ln, Waterbury, CT 06705
      View Details

    Similar Nearby for Lease

    • $1,250 /Mo

      East End Two Bedroom Apartment

      Two-bedroom apartment with parking and in-unit laundry hookups.
      1720 E Main St, Waterbury, CT 06705
      View Details
    • Contact for pricing
      661 SF

      Residential Unit with Private Entrance

      Two-bedroom unit with balcony, parking, and laundry hook-ups.
      31 Beecher Ave, Waterbury, CT 06705
      View Details
    • Contact for pricing
      9,017 SF

      Retail Space in Mattatuck Plaza

      Retail space available in well-located Waterbury shopping center.
      650-670 Wolcott St, Waterbury, CT 06705
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease in Waterbury, Connecticut.
      117 Sharon Rd, Waterbury, CT 06705
      View Details
    • Contact for pricing
      4,941 SF

      Retail Space in Waterbury Corridor

      Retail space for lease in Waterbury's retail corridor.
      1030 Wolcott St, Waterbury, CT 06705
      View Details
    Request Owner's contact information
    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.
    975 Meriden Rd
    Waterbury, CT 06705
    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
    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

    Thank You for Inquiry
    975 Meriden Rd, Waterbury, CT, 06705
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!