Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    24 Cherry St Naugatuck, CT 06770
    Back to Search
    Property profile & analytics

    24 Cherry St, Naugatuck, CT 06770

    View on Map
    • Banks
    • 3,240 SF
    • 0.33 lot acres
    For Sale
    $600,000
    View Listing →
    Downtown Naugatuck Commercial Building For Sale
    $600,000
    3,240 SF

    Downtown Naugatuck Commercial Building

    3,240 sq ft commercial building in revitalized downtown Naugatuck.

    24 Cherry Street, Naugatuck, CT 6770
    View Listing
    Property ID
    US15-0561499
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Connecticut Condo Connection / Real Estate Agency
    • Manuel N Vieira Agency / Insurance Agency

    Property Details for 24 Cherry St

    Year built
    1970
    Construction
    FRAME
    Lot size
    0.33 lot acres
    Zone code
    RA1
    Property type
    Banks
    APN
    NAUG M:069 L:8900
    APU
    NAUGM069L8900

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 20, 2018 $307,331 Ion Bk Ion Ins Co Warranty Deed —
    Nov 14, 2013 — Naugatuck Savings Bank Vieira,manuel N & Carol J Warranty Deed —
    Nov 30, 2011 — Manuel N Viera — Deed Of Trust · related $26k · Naugatuck Savings Bank
    Apr 21, 2010 — Manuel N Vieira — Deed Of Trust · related $150k · Naugatuck Savings Bank
    Mar 10, 2009 — Manuel N Vieira — Deed Of Trust · related $125k · Frederick Dlugokecki
    Jul 13, 2007 — Manuel N Vieira — Deed Of Trust · related $100k · Naugatuck Savings Bank
    Oct 4, 2002 — Manuel N Vieira — Deed Of Trust · related $20k · Naugatuck Savings Bank
    Jan 19, 1994 — Manuel Vieira — Deed Of Trust · related $156k · Naugatuck Savings Bank
    Feb 2, 1990 — Manuel N Vieira — Deed Of Trust · related $125k · Naugatuck Savings Bank
    May 1, 1987 — Manuel Vieira Agency — Deed Of Trust · related $300k · Connecticut Bank & Trust

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Naugatuck
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0574
    Latitude
    41.4861
    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
    $17,216
    $88,200
    $296,520
    $384,720
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $785,000
      17,422 SF

      87 Church St

      FINANCIAL BUILDING
      87 Church St, Naugatuck, CT 06770-4111
      View Details
    • Value Estimation
      $580,000
      8,220 SF

      251 Church St

      FINANCIAL BUILDING
      251 Church St, Naugatuck, CT 06770-4121
      View Details
    • Value Estimation by Request
      1,729 SF

      1007 New Hvn Rd

      FINANCIAL BUILDING
      1007 New Hvn Rd, Naugatuck, CT 06770-4716
      View Details
    • Value Estimation by Request
      3,211 SF

      1009 New Hvn Rd

      FINANCIAL BUILDING
      1009 New Hvn Rd, Naugatuck, CT 06770-4716
      View Details
    • Value Estimation
      $1,170,000
      25,211 SF

      1430 New Hvn Rd

      FINANCIAL BUILDING
      1430 New Hvn Rd, Naugatuck, CT 06770-5039
      View Details
    • Value Estimation by Request
      3,224 SF

      727 Rubber Ave

      FINANCIAL BUILDING
      727 Rubber Ave, Naugatuck, CT 06770-3642
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,000 SF

      Established Bank Branch For Sale

      Bank branch with a long operating history and large deposits.
      333 Church St, Naugatuck, CT 06770
      View Details
    • $130,000
      750 SF

      Profitable Convenience Store in Naugatuck

      Established convenience store with high-traffic location and diverse product offerings.
      63 Rubber Ave, Naugatuck, CT 06770
      View Details
    • $259,900
      2,656 SF

      Mixed-Use Property in Revitalization District

      Mixed-use property with residential units and commercial storefront.
      569 Rubber Ave, Naugatuck, CT 06770
      View Details
    • $800,000
      5,974 SF

      Prime Commercial Space in Naugatuck

      Spacious commercial property in a high-traffic Naugatuck business district.
      159 Church St, Naugatuck, CT 06770
      View Details
    • $599,000
      2,640 SF

      Mixed-Use Property in Naugatuck

      Mixed-use property with retail and residential income in prime location.
      671 Rubber Ave, Naugatuck, CT 06770
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,200 SF

      Naugatuck Commercial Storefront For Lease

      Prime commercial space in revitalizing downtown Naugatuck, excellent visibility.
      175 Church St, Naugatuck, CT 06770
      View Details
    • $500 /Mo
      700 SF

      Naugatuck Retail/Office Space Available

      700 SF retail/office space in a high-traffic Naugatuck location.
      628 New Haven Rd, Naugatuck, CT 06770
      View Details
    • $1,295 /Mo
      1,000 SF

      Turnkey Storefront in Downtown Naugatuck

      Storefront on Naugatuck's primary corridor, suitable for retail/office.
      92 Church St, Naugatuck, CT 06770
      View Details
    • $1,295 /Mo
      1,000 SF

      Turnkey Storefront on Church Street

      Storefront available for rent in downtown Naugatuck.
      92 Church St, Naugatuck, CT 06770
      View Details
    • $1,500 /Mo
      1,000 SF

      Downtown Naugatuck Retail/Event Space

      Flexible 1,000 SF retail/event space in downtown Naugatuck.
      175 Church St, Naugatuck, CT 06770
      View Details
    • $800 /Mo
      1,056 SF

      Naugatuck Retail/Office Space Available

      1,056 SF retail/office space in revitalizing downtown Naugatuck.
      569 Rubber Ave, Naugatuck, CT 06770
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24 Cherry St
    Naugatuck, CT 06770
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    24 Cherry St, Naugatuck, CT, 06770
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!