1030 Wolcott St Waterbury, CT 06705

Property Details for 1030 Wolcott St

Year built

1999

Lot size

3.22 lot acres

Property size

11,180 SF

Zone code

CA

Property type

Commercial real estate

APN

WBRY M:0204 B:0450 L:0002

APU

WBRYM0204B0450L0002

Description

This exceptional 10,984 square foot retail center in Waterbury, Connecticut presents a compelling investment opportunity. The property, built in 1999 and situated on a 3.22-acre lot, features a strong anchor tenant: Bank of America, occupying half the space. The current occupancy is 50%, with a significant portion vacant, offering immediate upside potential for additional lease income. The property boasts a Net Lease structure with a current NOI of $272,872 and a 5.27% cap rate. The asking price is $5,180,000, translating to $471.60 per square foot. The center benefits from a high-traffic location at the signalized intersection of Lakewood and Wolcott Street (43,000 vehicles per day), providing excellent visibility and exposure. Its prime location along a major retail corridor is surrounded by numerous national retailers, including Walmart, Stop & Shop, McDonald's, and more. The Bank of America tenant occupies a space that serves as a strategic relocation branch, consolidating two local branches and is expected to hold $500 million in deposits. The property is zoned CA. While the current lease with Bank of America has expired, the investment highlights a potential for a new long-term lease. This property offers a blend of stability and growth potential for savvy investors.

Location Insight

City

Waterbury

County

New Haven

State

Connecticut

Longitude

-73.005

Latitude

41.5684

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments