581 Chase Ave Waterbury, CT 06704-1905

Property Details for 581 Chase Ave

Lot size

1.18 lot acres

Zone code

CA

Property type

Commercial real estate

APN

WBRY M:0102 B:0975 L:0451

APU

WBRYM0102B0975L0451

Description

This exceptional investment opportunity presents two fully-occupied retail buildings totaling 8,508 square feet, situated on a 1.18-acre lot in Waterbury, Connecticut. The property boasts a prime hard corner location at the signalized intersection of Chase Avenue and Cooke Street, benefiting from high traffic counts exceeding 33,046 vehicles per day. The strong tenant mix includes service-based businesses, with Bank of America, a significant anchor tenant, having occupied the space for over 48 years and holding nine, five-year options with CPI increases. Bank of America's branch deposits exceed $308,000,000, and the branch features a dual-lane drive-thru. The property enjoys excellent visibility and signage along Chase Avenue, which sees over 25,500 vehicles per day. Its strategic location offers proximity to major roadways, including the James H. Darcey Memorial Highway on/off ramps, and is adjacent to Nottingham Towers, a 165-unit multi-family complex. The property benefits from strong demographics, with over 152,778 residents within a 5-mile radius and an average household income exceeding $73,633. Nearby national retailers include Target, Stop & Shop, CVS, McDonald's, Starbucks, Dunkin', Taco Bell, Wells Fargo, Burger King, Popeye's, and Shell. Built in 1976, the property is zoned CA and offers a net lease structure. The current occupancy is 100%, with near-term lease expirations presenting value-add potential. This is a rare opportunity to acquire a well-positioned, high-traffic retail property in a thriving market.