Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    515 Watertown Ave Waterbury, CT 06708

    • Office Properties & Spaces
    • 5,038 SF
    For Lease
    View listing
    $11 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0235464
    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

    • Nardelli's Grinder Shoppe / Food Market / Restaurant
    • Grind Health Club | Waterbury Fitness Gym / Gym & Fitness Center
    • Dibble & Rossi Cpas PC / Tax Preparation
    • Dibble Elaine CPA / Accounting Firm / Tax Preparation
    • Michael J Maunsell & Co / Accounting Firm / Tax Preparation

    Property Details for 515 Watertown Ave

    Year built
    1915
    Property size
    5,038 SF
    Zone code
    CA
    Property type
    Office Properties & Spaces
    APN
    WBRY M:0195 B:0705 L:0515-D
    APU
    WBRYM0195B0705L0515D

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $440,000
      Market price range: $212k - $628k
      AI Estimate
      $671,000
      Market price range: $265k - $793k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $410,000
      Current use
      RESTAURANT
      $735,000
      Change: +80% Conversion: Moderate
      APARTMENT HOUSE (5+ UNITS)
      $495,000
      Change: +21% Conversion: Easy
      AUTO REPAIR, GARAGE
      $455,000
      Change: +11% Conversion: Difficult
      RETAIL STORES
      $410,000
      Change: -0% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Waterbury
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0606
    Latitude
    41.5665
    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
    $18,830
    $0.00
    $347,480
    $347,480
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,599 SF

      515 Watertown Ave Ste A

      CONDOMINIUM OFFICES • 1,599 SF
      515 Watertown Ave Ste A, Waterbury, CT 06708-2246
      View Details
    • Value Estimation by Request
      1,810 SF

      515 Watertown Ave, Unit C

      CONDOMINIUM OFFICES • 1,810 SF
      515 Watertown Ave, Waterbury, CT 06708-2246
      View Details
    • Value Estimation by Request
      938 SF

      417 Highland Ave Ste, Unit 3

      CONDOMINIUM OFFICES • 938 SF
      417 Highland Ave Ste, Waterbury, CT 06708-3454
      View Details
    • Value Estimation by Request
      31,740 SF

      140 Grandview Ave

      Medical offices • 31,740 SF
      140 Grandview Ave, Waterbury, CT 06708
      View Details
    • Value Estimation by Request
      2,584 SF

      515 Watertown Ave

      CONDOMINIUM OFFICES • 2,584 SF
      515 Watertown Ave, Waterbury, CT 06708-2246
      View Details
    • Value Estimation by Request
      59,096 SF

      134-140 Grandview Ave

      Medical offices • 59,096 SF
      134-140 Grandview Ave, Waterbury, CT 06708
      View Details

    Similar Nearby for Sale

    • $1,100,000
      5,200 SF

      Waterbury Shopping Center - Prime Location

      High-Occupancy Retail/Office Center in CT
      485 Watertown Ave, Waterbury, CT 06708
      View Details
    • $254,900
      4,632 SF

      Waterbury Medical Office Condo

      Prime Medical Office Space, $254,900
      60 Westwood Ave, Waterbury, CT 06708
      View Details
    • $599,000
      10,000 SF

      West Main Street Executive Offices

      Prime Waterbury Office Building, 10,000 SF
      1068 Main St, Waterbury, CT 06708
      View Details
    • $350,000
      1.27 Acres

      Waterbury Commercial Land - 1.27 Acres

      Prime 1.27-acre commercial lot, ideal for mixed-use development.
      0 Park Rd, Waterbury, CT 06708
      View Details
    • $87,210
      918 SF

      Waterbury Medical Office - $87,210

      Ground floor medical office, ideal location.
      1389 Main St, Waterbury, CT 06708
      View Details

    Similar Nearby for Lease

    • $6,600 /Mo
      10,000 SF

      Prime Waterbury Executive Office Space

      10,000 SF Office, 3,000 SF Available
      1068 Main St, Waterbury, CT 06708
      View Details
    • $18 SF/Yr
      7,590 SF

      Waterbury Executive Office Space

      Modern Office, 2,516 sq ft Available
      146 Highland Ave, Waterbury, CT 06708
      View Details
    • $16 SF/Yr
      15,982 SF

      Executive Office Space in Waterbury

      Prime Waterbury Office, 2,000 SF Available
      92 Brookside Rd, Waterbury, CT 06708
      View Details
    • $13 SF/Yr
      59,096 SF

      Grandview Ave Medical Office Space

      Waterbury, CT Medical Office Suites Available
      134-140 Grandview Ave, Waterbury, CT 06708
      View Details
    • $12 SF/Yr
      1,220 SF

      Waterbury Medical Office Space

      1220 SF Medical Office, Excellent Location
      171 Grandview Ave, Waterbury, CT 06708
      View Details
    • $12 SF/Yr
      4,651 SF

      Waterbury Medical Office Space For Lease

      Prime Medical Office Building, Abundant Parking
      1389 Main St, Waterbury, CT 06708
      View Details
    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.
    515 Watertown Ave
    Waterbury, CT 06708
    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

    Google sign-in failed. Please try again or use another login method.