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    Property profile & analytics

    1833 Main St Waterbury, CT 06705

    • Parking lots & garages
    • 3,228 SF
    • 0.34 lot acres
    For Sale
    View listing
    $450,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0347495
    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

    • Ray's Hill St. Service / Auto Repair Shop / Oil Change Service

    Property Details for 1833 Main St

    Year built
    1963
    Lot size
    0.34 lot acres
    Property size
    3,228 SF
    Zone code
    RM
    Property type
    Parking lots & garages
    APN
    WBRY M:0373 B:0108 L:0077
    APU
    WBRYM0373B0108L0077

    Description

    This exceptional investment opportunity presents a well-maintained 3,228 square foot automotive service garage situated on a 0.34-acre lot at 1833 E Main Street in Waterbury, Connecticut. The property enjoys a prime location in a highly desirable area of Waterbury, ensuring strong tenant demand and consistent rental income. The building features four convenient drive-in doors, making it ideal for efficient vehicle access and service operations. Currently, the property is under a triple-net lease, generating a monthly rental income of $3,500. The lease includes built-in rent increases over its term and a favorable 5-year option, providing long-term financial stability and predictable cash flow for the investor. This is a turnkey investment, requiring minimal management oversight. The property's excellent condition and strategic location make it an attractive proposition for discerning investors seeking a stable, high-yield commercial asset in a thriving Connecticut market. The asking price of $450,000 represents a compelling value for this established and income-producing property. Don't miss this chance to acquire a proven, profitable commercial investment in a prime Waterbury location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $204,000
      Market price range: $82.5k - $277k
      AI Estimate
      $342,000
      Market price range: $177k - $426k

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $200,000
      Current use
      AUTO REPAIR, GARAGE
      $295,000
      Change: +47% Conversion: Difficult
      OFFICE BUILDING
      $265,000
      Change: +32% Conversion: Difficult
      RETAIL STORES
      $260,000
      Change: +32% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $225,000
      Change: +14% Conversion: Difficult
      WAREHOUSE, STORAGE
      $190,000
      Change: -4% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0115
    Latitude
    41.5451
    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
    $12,055
    $72,170
    $150,290
    $222,460
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $695,000
      3,960 SF

      809 Wolcott St

      PARKING GARAGE, PARKING STRUCTURE • 3,960 SF
      809 Wolcott St, Waterbury, CT 06705-1313
      View Details
    • Value Estimation
      $90,000
      4,846 SF

      108 Mulloy Rd

      PARKING GARAGE, PARKING STRUCTURE • 4,846 SF
      108 Mulloy Rd, Waterbury, CT 06705-3438
      View Details
    • Value Estimation
      $225,000
      2,532 SF

      55 Sidney St

      PARKING GARAGE, PARKING STRUCTURE • 2,532 SF
      55 Sidney St, Waterbury, CT 06705-3825
      View Details
    • Value Estimation
      $280,000
      5,191 SF

      3080 Main St

      PARKING GARAGE, PARKING STRUCTURE • 5,191 SF
      3080 Main St, Waterbury, CT 06705-3422
      View Details
    • Value Estimation
      $165,000
      3,318 SF

      717 Meriden Rd

      PARKING GARAGE, PARKING STRUCTURE • 3,318 SF
      717 Meriden Rd, Waterbury, CT 06705-2432
      View Details
    • Value Estimation
      $255,000
      1,827 SF

      584 Meriden Rd

      PARKING GARAGE, PARKING STRUCTURE • 1,827 SF
      584 Meriden Rd, Waterbury, CT 06705-2320
      View Details

    Similar Nearby for Sale

    • $595,000
      4,800 SF

      Waterbury Commercial Property on Large Lot

      Multi-use building on 0.77-acre lot with existing tenants.
      88 Mulloy Rd, Waterbury, CT 06705
      View Details
    • $450,000

      Automotive Garage on East Main

      Automotive service garage in Waterbury, currently leased.
      1833 E Main St, Waterbury, CT 06705
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    • $650,000
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      Former Yellow Cab Terminal For Sale

      5,292 SF auto shop with 5-bay garage on 0.92 acres.
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    • $799,000

      Commercial Building with Income Potential

      Commercial building with renovated bar, hall, and ample parking.
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    • $450,000
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      Waterbury Retail Building - $450K

      Prime location, 100% occupied, NNN lease.
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    • $4,000,000
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      Prime 4.74-acre retail site, 24,000 SF.
      497 Plank Rd, Waterbury, CT 06705
      View Details

    Similar Nearby for Lease

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      Prime Retail Space, Waterbury, CT

      High-traffic retail space available.
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      View Details
    • $14 SF/Yr
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      Retail/Office/Flex Space Available

      New retail, office, or flex space with highway access.
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      View Details
    • $25 SF/Yr
      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
    • $9 SF/Yr
      9,417 SF

      Retail Space in Mattatuck Plaza

      Retail space available in well-located Waterbury shopping center.
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    • $5,000 /Mo
      3,489 SF

      Restaurant Ready Retail Building

      3,489 SF retail building, currently set up as a restaurant.
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    • Contact for pricing
      148,141 SF

      Waterbury Retail Center Investment

      High-traffic shopping center, 2,704 sq ft available
      921 Wolcott St, Waterbury, CT 06705
      View Details
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    1833 Main St
    Waterbury, CT 06705
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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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