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Property profile & analytics
FOR SALE
Parking lots & garages
491 Lakewood Rd Waterbury, CT 06704
Entity Owned
Absentee Owner
Free & Clear
Property ID
US15-0606876
For Sale
1 / 3
$4,412,000
491 Lakewood Rd, Waterbury, CT 06704
View Listing →
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1950
Total area
7,571 SF
Lot
0.75 ac (32,670 SF)
Zoning code
CA
APN
WBRY M:0151 B:0219 L:0008
UPID
US15-0606876
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
-
Town Fair Tire (Bike/Boat/Book/etc) Store Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$370k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$649k
Blend (final)
Blend
$610k
Owner & transaction history
WATERBURY 4 LLC · 2 yrs held
WATERBURY 4 LLC
since 2024
1 recorded transaction
Zoning & alternative use
CA · Waterbury, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$745,000
+60.2%
Auto repair, garage
$685,000
+47.4%
Office building
$615,000
+32.3%
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
$370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
PARKING LOT
$465,000
Current use
APARTMENT HOUSE (5+ UNITS)
$745,000
Change: +60% · Conversion: Difficult
AUTO REPAIR, GARAGE
$685,000
Change: +47% · Conversion: Difficult
OFFICE BUILDING
$615,000
Change: +32% · Conversion: Difficult
RETAIL STORES
$615,000
Change: +32% · Conversion: Difficult
COMMERCIAL (GENERAL)
$525,000
Change: +13% · Conversion: Difficult
WAREHOUSE, STORAGE
$445,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$81 / 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
$102,700
Tax year 2023
Assessed value
$1,895,180
Assessed 2023
Previous assessed
$1,895,180
+0.0% YoY
Effective rate
5.42%
On assessed value
Assessed land
$445,270
Assessed improvement
$1,449,910
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
For Sale
Year built
1950
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
1
Total area
7,571 SF
Lot
0.75 ac (32,670 SF)
Zoning code
CA
APN
WBRY M:0151 B:0219 L:0008
UPID
US15-0606876
Jurisdiction
WATERBURY
Zoning & alternative use
CA · Waterbury, CT
Zoning CA · permitted uses
CA · 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
PARKING LOT Current
Est. value
$465,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$745,000
AUTO REPAIR, GARAGE
Est. value
$685,000
OFFICE BUILDING
Est. value
$615,000
RETAIL STORES
Est. value
$615,000
COMMERCIAL (GENERAL)
Est. value
$525,000
WAREHOUSE, STORAGE
Est. value
$445,000
PARKING LOT Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1950
Heating
FORCED AIR
Cooling
Yes
Stories
1
Buildings
1
Lot
0.75 ac
Current owner
From public records · entity-resolved
WATERBURY 4 LLC
Entity
Free & Clear · 2 yrs held
Mailing address
460 COE AVE, EAST HAVEN, CT 06512-3836
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2024
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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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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