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    Property profile & analytics

    1389 Main St Waterbury, CT 06708

    • Retail space
    • 4,965 SF
    • 0.44 lot acres
    For Sale
    View listing
    $87,210
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0452525
    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

    • Greater Waterbury Oral & Maxillofacial Surgeons / Oral Surgeon
    • John J. Hillgen, IV, DMD, MBA / Oral Surgeon
    • Lisa S Veiga DMD / Dentist
    • Endodontic Associates: Turek Thomas J DMD / Dentist / Endodontist
    • Endodontic Associates: Jason Alliger, D.D.S. / Endodontist

    Property Details for 1389 Main St

    Year built
    1956
    Lot size
    0.44 lot acres
    Property size
    4,965 SF
    Zone code
    CG
    Property type
    Retail space
    APN
    WBRY M:0183 B:0209 L:0008
    APU
    WBRYM0183B0209L0008

    Description

    This exceptional 1,297 square foot office suite is located in Tower Two at 1389 West Main Street, offering a prime location for medical or general office use. Situated on the first floor, Unit #122 boasts a finished interior within a brick building. The space is competitively priced at $10.00 per square foot, plus estimated taxes of $4.70 per square foot and condo fees of $5.45 per square foot. Amenities include a common parking area, an elevator, gas heat, and air conditioning. The building is conveniently located, just 0.5 miles from I-84 and 1.1 miles from Route 8. Utilities include city water, city sewer, Eversource electric, and Eversource gas. The property is zoned RM and is part of a three-story building with one available unit. The building features a rubber roof. This is a traditional office space in a multi-tenant building with a minimum divisible space of 1,297 square feet. The current vacancy is 1,297 square feet. New Haven County's mill rate is 55.50.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $295,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $280,000
      Market price range: $225k - $584k
      AI Estimate
      $357,000
      Market price range: $234k - $797k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $405,000
      Current use
      AUTO REPAIR, GARAGE
      $450,000
      Change: +12% Conversion: Difficult
      OFFICE BUILDING
      $405,000
      Change: +0% Conversion: Easy
      COMMERCIAL (GENERAL)
      $345,000
      Change: -14% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0262
    Latitude
    41.5698
    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
    $12,370
    $30,590
    $197,680
    $228,270
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $85,000
      2,141 SF

      31 Hl St

      RETAIL STORES (PERSONAL SERVICES) • 2,141 SF
      31 Hl St, Waterbury, CT 06704-3408
      View Details
    • Value Estimation
      $520,000
      2,346 SF

      113 Homer St

      RETAIL STORES (PERSONAL SERVICES) • 2,346 SF
      113 Homer St, Waterbury, CT 06704-1728
      View Details
    • Value Estimation
      $180,000
      8,617 SF

      65 Industry Ln

      RETAIL STORES (PERSONAL SERVICES) • 8,617 SF
      65 Industry Ln, Waterbury, CT 06704-2413
      View Details
    • Value Estimation
      $260,000
      2,480 SF

      1473 Thomaston Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,480 SF
      1473 Thomaston Ave, Waterbury, CT 06704
      View Details
    • Value Estimation
      $95,000
      3,822 SF

      872 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,822 SF
      872 Main St, Waterbury, CT 06704-3514
      View Details
    • Value Estimation
      $200,000
      2,728 SF

      519 Lakewood Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,728 SF
      519 Lakewood Rd, Waterbury, CT 06704-2420
      View Details

    Similar Nearby for Sale

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      Turnkey Restaurant Opportunity

      Breakfast/lunch restaurant for sale, renovated in August 2023.
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    Similar Nearby for Lease

    • Contact for pricing
      34,340 SF

      Retail Building with Service Garage

      Retail building with service garage and high traffic volume.
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      View Details
    • Contact for pricing
      4,100 SF

      Retail Space Near Route 8

      Retail locations for lease with easy highway access.
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      View Details
    • $1,800 /Mo

      Adaptable Commercial Building For Rent

      Versatile space suitable for retail, office, studio, or events.
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      View Details
    • Contact for pricing
      1,500 SF

      Retail Space Near Route 8

      Retail space for lease with high traffic and easy access.
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      Former Bank Space with Drive-Through

      3,093 SF former bank space available for lease.
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    • $12 SF/Yr
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      Waterbury Medical Office For Lease

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      View Details
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    1389 Main St
    Waterbury, CT 06708
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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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