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Property profile & analytics
OFF-MARKET
Estimated value
$2,040,000
Retail properties & Spaces
771 Lakewood Rd Waterbury, CT 06704-2424
Entity Owned
15-yr Hold
Free & Clear
Property ID
US15-0581162
Property profile
Verified
Property type
Retail properties & Spaces
Use group
DEPARTMENT STORE
Year built
1989
Total area
28,772 SF
Lot
2.28 ac (99,317 SF)
Zoning code
CA
APN
WBRY M:0186 B:0831 L:0112
UPID
US15-0581162
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
-
LifeCare Menopause Specialist Clinic Medical Clinic
-
Ocean State Job Lot Discount Store
-
DWNSHFTco Detail Garage Car Wash
-
Shoreline Motorsports Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.70M
Blend (final)
Blend
$2.04M
Owner & transaction history
771 Props LLC · 15 yrs held
771 Props LLC
since 2011
2 recorded transactions
Zoning & alternative use
CA · Waterbury, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The intent of this zone is to promote arterial commercial district uses
Zone name
Arterial Commercial District
General category
COMMERCIAL
Zone area
1,541.64 ac
Source
Realmo
Top alternative use upside
Apartment house (5+ units)
$2.8M
+21.6%
Auto repair, garage
$2.6M
+11.8%
Office building
$2.3M
+0.4%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$2,335,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,840,000
Change: +22% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,610,000
Change: +12% · Conversion: Difficult
OFFICE BUILDING
$2,345,000
Change: +0% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,005,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$2.04M
Range $1.84M – $2.24M · ±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
$71 / 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
$74,872
Tax year 2023
Assessed value
$1,381,660
Assessed 2023
Previous assessed
$1,381,660
+0.0% YoY
Effective rate
5.42%
On assessed value
Assessed land
$223,720
Assessed improvement
$1,157,940
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
Retail properties & Spaces
Use group
DEPARTMENT STORE
Status
Off-Market
Year built
1989
Heating
FORCED AIR
Buildings
1
Stories
1
Total area
28,772 SF
Lot
2.28 ac (99,317 SF)
Zoning code
CA
APN
WBRY M:0186 B:0831 L:0112
UPID
US15-0581162
Jurisdiction
WATERBURY
Zoning & alternative use
CA · Waterbury, CTZoning CA · permitted uses
CA · Waterbury, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The intent of this zone is to promote arterial commercial district uses
Zone name
Arterial Commercial District
General category
COMMERCIAL
Zone area
1,541.64 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.8M
AUTO REPAIR, GARAGE
Est. value
$2.6M
OFFICE BUILDING
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.0M
RETAIL STORES Current
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1989
Heating
FORCED AIR
Stories
1
Buildings
1
Lot
2.28 ac
Current owner
From public records · entity-resolved
771 Props LLC
Entity
Free & Clear · 15 yrs held
Mailing address
375 COMMERCE PARK RD, NORTH KINGSTOWN, RI 02852-8420
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 5, 2011
$1
771 Props LLC
Maco Management Co INC
Grant Deed
—
Jul 15, 2008
$900,000
Osj Of Waterbury LLC
771 Lakewood Props LLC
Warranty Deed
—
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.
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