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    Property profile & analytics

    115 Waterbury Rd Prospect, CT 06712

    • Office buildings
    • 8,600 SF
    • 2.34 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0906041
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Brass Axe Capital / Business Broker
    • Mary Ellen Baldino / Physician
    • ProHealth Physicians Prospect Family Medicine / Physician
    • Dr. William Mcqueen / Physician
    • Direct Threads / Production Facility / Textile Manufacturer

    Property Details for 115 Waterbury Rd

    Year built
    2005
    Construction
    FRAME
    Lot size
    2.34 lot acres
    Property size
    8,600 SF
    Zone code
    B
    Property type
    Office buildings
    APN
    PROS M:104 B:160 L:115
    APU
    PROSM104B160L115

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,003,000
      Market price range: $361k - $1.07M
      AI Estimate
      $898,000
      Market price range: $416k - $962k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $700,000
      Current use
      RESTAURANT
      $1,260,000
      Change: +80% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $850,000
      Change: +21% Conversion: Easy
      AUTO REPAIR, GARAGE
      $780,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $695,000
      Change: -0% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Prospect
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9917
    Latitude
    41.5189
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $24,097
    $160,290
    $594,620
    $754,910
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,260 SF

      39th Waterbury Rd

      OFFICE BUILDING • 1,260 SF
      39th Waterbury Rd, Prospect, CT 06712-1249
      View Details
    • Value Estimation by Request
      2,810 SF

      3 Straitsville Rd

      OFFICE BUILDING • 2,810 SF
      3 Straitsville Rd, Prospect, CT 06712-1524
      View Details
    • Value Estimation by Request
      1,816 SF

      151 Waterbury Rd

      OFFICE BUILDING • 1,816 SF
      151 Waterbury Rd, Prospect, CT 06712
      View Details
    • Value Estimation by Request
      1,936 SF

      28 Cheshire Rd

      OFFICE BUILDING • 1,936 SF
      28 Cheshire Rd, Prospect, CT 06712-1645
      View Details
    • Value Estimation
      $765,000
      6,068 SF

      18 Waterbury Rd

      OFFICE BUILDING • 6,068 SF
      18 Waterbury Rd, Prospect, CT 06712-1215
      View Details
    • Value Estimation
      $745,000
      3,288 SF

      40 Ctr St

      OFFICE BUILDING • 3,288 SF
      40 Ctr St, Prospect, CT 06712-1639
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Commercial Land with Garages

      Commercial land with two buildings and garages on corner lot.
      156 Waterbury Rd, Prospect, CT 06712
      View Details
    • Contact for pricing

      Commercial Land on State Highway

      Small parcel for building with utilities available in Prospect, CT.
      80 Waterbury Rd, Prospect, CT 06712
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    • $160,000

      6.96 Acres of Wooded Land

      6.96-acre wooded parcel near town with building potential.
      66 Union City Rd, Prospect, CT 06712
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    • $630,000
      Pending

      Holley Ln, Prospect, CT Property

      Specialty property available for sale in Prospect, Connecticut.
      6 Holley Ln, Prospect, CT 06712
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    • $125,000
      0.64 Acres

      Prospect Commercial Land - $125K

      0.64-acre commercial lot, prime location.
      80 Waterbury Rd, Prospect, CT 06712
      View Details
    • New
      $169,900
      5.00 Acres

      Residential Land in Prospect, CT

      5.50-acre residential lot in Prospect, Connecticut.
      Coachlight Cir, Prospect, CT 06712
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    Similar Nearby for Lease

    • $2,400 /Mo
      2,200 SF

      Adaptable Commercial Space Available Now

      Spacious commercial suite with flexible layout, utilities included, ample parking.
      158 Waterbury Rd, Prospect, CT 06712
      View Details
    • $2,500 /Mo
      3,000 SF

      Retail/Office Space in Prospect

      Retail or office space available on busy RT 68.
      94 Union City Rd, Prospect, CT 06712
      View Details
    • Contact for pricing
      1,000 SF

      Office Space Available For Rent

      Office space available for lease in Prospect, Connecticut.
      115 Waterbury Rd, Prospect, CT 06712
      View Details
    • $750 /Mo
      700 SF

      Office Space in Prospect, CT

      Small office space with high visibility and convenient highway access.
      6 New Haven Rd, Prospect, CT 06712
      View Details
    • Contact for pricing
      750 SF

      Furnished Office Space Available

      Affordable, furnished office spaces for lease with separate utilities.
      33 Union City Rd, Prospect, CT 06712
      View Details
    • $2,000 /Mo
      1,583 SF

      Charming Office Space, Prospect CT

      Office space with high visibility in Prospect, CT.
      31 Waterbury Rd, Prospect, CT 06712
      View Details
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    115 Waterbury Rd
    Prospect, CT 06712
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    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
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