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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    478 Main St Waterbury, CT 06702-1123

    • Retail space
    • 4,048 SF
    • 0.17 lot acres
    OFF-MARKET
    Last Sale
    Oct 16, 2020
    $200,000
    Value Estimations
    $220,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0289596
    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

    • Phone System Services Waterbury / Telecommunications Service Provider

    Property Details for 478 Main St

    Year built
    1905
    Lot size
    0.17 lot acres
    Property size
    4,048 SF
    Zone code
    CBD
    Property type
    Retail space
    APN
    WBRY M:0253 B:0056 L:0096
    APU
    WBRYM0253B0056L0096

    Description

    This exceptional 1,128 square foot executive office suite, located at 478 West Main Street in Waterbury, Connecticut, presents a unique opportunity for discerning businesses. Situated in a beautifully renovated building (2020), this single-tenant space boasts 9-foot ceilings and is part of a larger 4,048 square foot building constructed in 1905. The property sits on a 0.17-acre lot within the Central Business District (CBD) zoning of New Haven County. The building's classic architecture is complemented by modern updates, creating a sophisticated and functional workspace. The entire building is currently configured as a single-tenant space, offering privacy and control. This prime location in Waterbury, CT (zip code 06702) provides easy access to major transportation routes and amenities. The property's blend of historical character and contemporary upgrades makes it an ideal location for businesses seeking a prestigious and efficient office environment. The address is 478 W Main St, Waterbury, CT 06702. This is a rare opportunity to lease a well-maintained, historically significant office space in a thriving Connecticut city. The property is ready for immediate occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $210,000
      ML approach
      $215,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $258,000
      Market price range: $183k - $476k
      AI Estimate
      $258,000
      Market price range: $183k - $479k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $330,000
      Current use
      OFFICE BUILDING
      $330,000
      Change: +0% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.049
    Latitude
    41.5584
    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
    2024
    $10,285
    $31,990
    $176,050
    $208,040
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $320,000
      2,652 SF

      744 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,652 SF
      744 Main St, Waterbury, CT 06702-1015
      View Details
    • Value Estimation
      $275,000
      3,000 SF

      15 Welton St

      RETAIL STORES (PERSONAL SERVICES) • 3,000 SF
      15 Welton St, Waterbury, CT 06702-1723
      View Details
    • Value Estimation
      $100,000
      1,992 SF

      449 Main St

      RETAIL STORES (PERSONAL SERVICES) • 1,992 SF
      449 Main St, Waterbury, CT 06702-1122
      View Details
    • Value Estimation
      $295,000
      2,585 SF

      651 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,585 SF
      651 Main St, Waterbury, CT 06702-1709
      View Details
    • Value Estimation
      $500,000
      8,229 SF

      337 Main St

      RETAIL STORES (PERSONAL SERVICES) • 8,229 SF
      337 Main St, Waterbury, CT 06702-2308
      View Details
    • Value Estimation
      $360,000
      5,400 SF

      564 Main St

      RETAIL STORES (PERSONAL SERVICES) • 5,400 SF
      564 Main St, Waterbury, CT 06702-1013
      View Details

    Similar Nearby for Sale

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      Waterbury Executive Office Suite

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    • $495,000
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      Waterbury Commercial Land - 4.58 Acres

      Prime Commercial Land, High Visibility, $495,000
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    • $275,000

      Waterbury Multifamily Property For Sale

      Multifamily property available for purchase in Waterbury, Connecticut.
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    Similar Nearby for Lease

    • $12 SF/Yr
      11,983 SF

      Downtown Retail Space Available

      Prominent retail location with easy access to public transportation.
      20 E Main St, Waterbury, CT 06702
      View Details
    • $12 SF/Yr

      Prime Commercial Space Available

      Commercial spaces for lease, suitable for medical, flex, office, retail.
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    • $12 SF/Yr
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      Waterbury Commercial Space For Lease

      Prime commercial spaces available in Waterbury, suitable for various uses.
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    • $800 /Mo
      20,657 SF

      Adaptable Basement-Level Commercial Space

      Versatile 800 sqft basement space near I-84 and Route 8.
      137 West Main St, Waterbury, CT 06702
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    • $3,800 /Mo

      Office/Retail Space for Rent

      Office and retail space available for lease.
      393 E Main St, Waterbury, CT 06702
      View Details
    • $9 SF/Yr
      2,000 SF

      Waterbury Retail Space For Lease

      Prime retail space, 750-1250 sq ft available.
      138 Cherry St, Waterbury, CT 06702
      View Details
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    478 Main St
    Waterbury, CT 06702-1123
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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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