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Property profile & analytics
OFF-MARKET
Estimated value
$700,000
Medical Office Space
209 Highland Ave Waterbury, CT 06708-3055
Entity Owned
~
Est. High Equity
Property ID
US15-0386479
Property summary
AI-generated overview
This exceptional investment opportunity presents a 14,000 square foot medical office building located at 209 Highland Ave, Waterbury, CT 06708. The property is currently leased to DaVita Dialysis, a Fortune 500 company and leading provider of kidney care, under an absolute NNN lease with a remaining term of 6.2 years and two 5-year options. The lease commenced April 30, 1996, and expires December 31, 2030. The lease features a strong corporate guarantee and annual rent increases of 2%. The property boasts a current NOI of $185,732, resulting in a compelling 6.65% cap rate and an asking price of $2,792,962. Built in 1998, this strategically located asset benefits from a dense urban population
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1998
Total area
11,884 SF
Lot
1.75 ac (76,230 SF)
Zoning code
RM
APN
WBRY M:0316 B:0622 L:0032
UPID
US15-0386479
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
MONZURUL H CHOWDHURY Physician
-
SINA RAISSI Physician Medical Clinic
-
MARC A CIAMPI Physician Medical Clinic
-
DaVita Greater Waterbury Dialysis Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$700k
Owner & transaction history
Ns Retail Holdings LLC
Ns Retail Holdings LLC
since 2026
5 recorded transactions
Zoning & alternative use
RM · Waterbury, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.0M
+38.5%
Retail stores
$1.0M
+34.4%
Apartment house (5+ units)
$965,000
+28.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Waterbury submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waterbury submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$750,000
Current use
AUTO REPAIR, GARAGE
$1,040,000
Change: +38% · Conversion: Difficult
RETAIL STORES
$1,010,000
Change: +34% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$965,000
Change: +28% · Conversion: Moderate
WAREHOUSE, STORAGE
$665,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$700k
Range $630k – $770k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$59 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$89,552
Tax year 2023
Assessed value
$1,652,560
Assessed 2023
Previous assessed
$1,652,560
+0.0% YoY
Effective rate
5.42%
On assessed value
Assessed land
$141,260
Assessed improvement
$1,511,300
Applied tax rate
312.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1998
Heating
CENTRAL
Cooling
YES
Buildings
1
Stories
1
Total area
11,884 SF
Lot
1.75 ac (76,230 SF)
Zoning code
RM
APN
WBRY M:0316 B:0622 L:0032
UPID
US15-0386479
Jurisdiction
WATERBURY
Zoning & alternative use
RM · Waterbury, CT
Zoning RM · permitted uses
RM · Waterbury, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Waterbury. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$750,000
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$965,000
WAREHOUSE, STORAGE
Est. value
$665,000
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1998
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
1
Lot
1.75 ac
Current owner
From public records · entity-resolved
Ns Retail Holdings LLC
Entity
Mailing address
4301ST NEW BRUNSWICK AVE, SOUTH PLAINFIELD, NJ 07080-1224
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2026
—
Ns Retail Holdings LLC
Braha Assoc
Warranty Deed
—
Nov 22, 2011
$1,800,000
Braha Assoc
6645 Crossroads LLC
Warranty Deed
$1,000,000 · Provident Bank
Jan 18, 2008
—
6645 Crossroad LLC
—
Deed Of Trust
related
$1,000,000 · Washington Mutual Bank
Jul 20, 2000
—
Crossroads LLC
—
Deed Of Trust
related
$825,000 · Dime Savings Bank New York
Aug 30, 1999
$925,000
6645 Crossroads LLC
Kmk Rlty LLC
Warranty Deed
$675,000 · American Bk Of Ct
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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