809 Wolcott Ave Waterbury, CT 06705
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Retail properties & Spaces
Property Details for 809 Wolcott Ave
- Year built
- 1976
- Lot size
- 0.53 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 3,951 square foot auto shop in Waterbury, CT, boasting a 100% occupancy rate with a strong corporate tenant under a net lease agreement. The property, situated on a 0.53-acre lot at 809 Wolcott Ave, features a 50-year lease (expiring 10/31/2026), with a remaining term of approximately 1.9 years and a five-year option period with a 7% rent increase. Built in 1976 and renovated in 2016, the property includes a brand new roof (2023) with a 20-year transferable warranty and a recently repaved parking lot (2023). The property benefits from a high-traffic location on Wolcott Street, exceeding 25,000 vehicles per day, and is surrounded by national retailers including Walmart, Stop & Shop, and others. The strong demographics, with an average household income exceeding $80,752 within a 5-mile radius, further enhance the investment potential. The asking price is $885,000, representing a 7.12% cap rate and a NOI of $63,000. This is a rare opportunity to acquire a stable, high-performing asset with a long history of occupancy and minimal landlord responsibilities. The tenant's strong corporate backing and the below-market rental rate contribute to the overall attractiveness of this investment.
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
- -73.0098
- Latitude
- 41.5636
