Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    255 Bank St Waterbury, CT 06702
    Back to Search
    Property profile & analytics

    255 Bank St, Waterbury, CT 06702

    View on Map
    • Office buildings
    • 44,454 SF
    • 0.62 lot acres
    For Lease
    $20 SF/Yr
    View Listing →
    Retail and Office Space Available For Lease
    $20 SF/Yr
    3,446 SF

    Retail and Office Space Available

    Retail and office spaces for rent in Waterbury, Connecticut.

    255 Bank St, Waterbury, CT 6702
    View Listing
    Property ID
    US15-0537758
    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

    • Renehan & Rossetti, LLP / Law Firm
    • DeFronzo & Petroskey, P.C. / Law Firm
    • Pullman & Comley, LLC / Law Firm
    • Pliakas Stephen E / Law Firm
    • Acrisure Waterbury, CT (Security First Ins Group) / Insurance Agency

    Property Details for 255 Bank St

    Year built
    1986
    Lot size
    0.62 lot acres
    Zone code
    CBD
    Property type
    Office buildings
    APN
    WBRY M:0319 B:0274 L:0601
    APU
    WBRYM0319B0274L0601

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 2, 2025 — Ellenville Associates LLC — Deed · related $366k · Thomaston Savings Bank
    Mar 28, 2019 — Ellenville Assoc LLC 255 Bank St Assoc LLC Quit Claim Deed · related $1.9M · Thomaston Savings Bank
    Sep 10, 2002 $1,581,000 Ellenville Assoc LLC 255 Bank Street Assoc Warranty Deed $225k · Zions First National Bank
    Oct 2, 1995 $3,100,000 255 Bank St Assoc Jsd Ptnrs Warranty Deed · related —

    Description

    This four-story, 44,454-square-foot Class A office building at 255 Bank Street in Waterbury, CT, offers executive office space in the Central Business District (CBD). Built in 1986, the free-standing building sits on a 0.62-acre lot and features 46 parking spaces (both underground and on-site), and elevators. Currently, 13,225 square feet of space is vacant, divisible into units as small as 11,115 square feet, with a maximum contiguous space of 11,115 square feet. One immediately available unit offers 3,871 square feet of beautifully built-out space, ideal for professionals such as attorneys or insurance agents, and is available October 2024. The building is zoned CBD. The asking rent is $19.00 per square foot gross, plus utilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,775,000
      Market price range: $1.87M - $5.54M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,620,000
      Current use
      RESTAURANT
      $6,500,000
      Change: +80% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $4,385,000
      Change: +21% Conversion: Easy
      AUTO REPAIR, GARAGE
      $4,030,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $3,605,000
      Change: -0% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0414
    Latitude
    41.5523
    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
    $104,854
    $219,590
    $1,715,350
    $1,934,940
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $7,475,000
      71,000 SF

      249 Thomaston Ave

      OFFICE BUILDING
      249 Thomaston Ave, Waterbury, CT 06702-1036
      View Details
    • Value Estimation by Request
      1,920 SF

      32 Linden St

      OFFICE BUILDING
      32 Linden St, Waterbury, CT 06702-1301
      View Details
    • Value Estimation by Request
      3,665 SF

      63 Central Ave

      OFFICE BUILDING
      63 Central Ave, Waterbury, CT 06702-1202
      View Details
    • Value Estimation by Request
      4,200 SF

      71 Fld St

      OFFICE BUILDING
      71 Fld St, Waterbury, CT 06702
      View Details
    • Value Estimation
      $1,490,000
      29,594 SF

      47 Leavenworth St

      OFFICE BUILDING
      47 Leavenworth St, Waterbury, CT 06702
      View Details
    • Value Estimation by Request
      1,823 SF

      171 Main St

      OFFICE BUILDING
      171 Main St, Waterbury, CT 06702-1405
      View Details

    Similar Nearby for Sale

    • $3,900,000

      47 Leavenworth St, Waterbury, CT 06702

      Office buildings
      47 Leavenworth St, Waterbury, CT 06702
      View Details
    • $299,900

      Historic Victorian Office Building

      Downtown office building with historic details and private parking.
      59 Central Ave, Waterbury, CT 06702
      View Details
    • $299,900
      2,978 SF

      Historic Victorian Office Building

      Downtown office building with historic Victorian features and private parking.
      59 Central Ave, Waterbury, CT 06702
      View Details
    • $49,000
      3,637 SF

      Waterbury Executive Office Suite

      Prime CBD Location, $49K
      207 Bank St, Waterbury, CT 06702
      View Details
    • $149,900
      2,585 SF

      Mixed-Use Investment Opportunity in Waterbury

      Mixed-use property with commercial and residential units in Waterbury.
      651 East Main St, Waterbury, CT 06702
      View Details
    • $1,255,000
      11,940 SF

      Mixed-Use Investment Opportunity

      Mixed-use property with commercial and residential units in Waterbury.
      453 West Main St, Waterbury, CT 06702
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Downtown Office Building For Rent

      Professional office building in a highly visible downtown location.
      228 Meadow St, Waterbury, CT 06702
      View Details
    • Contact for pricing

      Downtown Waterbury Office Building ForRent

      Three-story office building with parking in downtown Waterbury.
      47 Leavenworth St, Waterbury, CT 06702
      View Details
    • Contact for pricing

      Class A Office Space Available

      Premium office spaces in Waterbury's Central Business District.
      255 Bank St, Waterbury, CT 06702
      View Details
    • $1,200 /Mo

      Downtown Office Space For Rent

      Bright, open office space in a high-traffic downtown location.
      207 Bank St, Waterbury, CT 06702
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Retail and office spaces for rent in Waterbury, Connecticut.
      255 Bank St, Waterbury, CT 06702
      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.
    255 Bank St
    Waterbury, CT 06702
    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
    255 Bank St, Waterbury, CT, 06702
    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!