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    909 Prospect St Naugatuck, CT 06770

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    909 Prospect St Naugatuck, CT 06770

    View on Map
    • Retail space
    • 4,928 SF
    • 1.55 lot acres
    For Sale
    $1,450,000
    View Listing →
    7,500 SF Retail Center For Sale
    $1,450,000
    7,500 SF

    7,500 SF Retail Center

    Retail center for sale with 7,500 square feet of space.

    909 Prospect St, Naugatuck, CT 6770
    View Listing
    Property ID
    US15-1203245
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The Colour boutique eyelash extensions / Hair Salon / Nail Salon
    • The Colour Boutique / Hair Salon
    • THE HONEY EYED HARE / Tattoo & Piercing Shop
    • Naugatuck Deli / Food Market / Restaurant
    • Capital Quarry Materials LLC / Building Supply

    Property Details for 909 Prospect St

    Year built
    2018
    Construction
    FRAME
    Lot size
    1.55 lot acres
    Property size
    4,928 SF
    Property type
    Retail space
    APN
    NAUG M:032 L:2801
    APU
    NAUGM032L2801

    Description

    This exceptional two-story retail center, located at 909 Prospect Street in Naugatuck, Connecticut, presents a compelling value-add investment opportunity. Built in 2016 and renovated in 2018, the property boasts 7,500 square feet across six units, currently enjoying 92% occupancy. The center features a gross lease structure and a strong net operating income (NOI) of $85,256, translating to a compelling 5.88% capitalization rate. The asking price is $1,450,000, or $193.33 per square foot. Situated on a 1.4-acre lot, the property provides ample parking with a ratio of 40 spaces per 1,000 square feet. This multi-tenant convenience store and shopping center offers a diverse tenant mix and significant potential for future growth. The property's strong performance, desirable location in New Haven County, and value-add potential make it an attractive investment for discerning buyers. The property's 2016 construction and 2018 renovation ensure modern amenities and efficient operations. With its established tenant base and high occupancy rate, this retail center offers immediate cash flow and long-term appreciation potential. The property's strategic location in Naugatuck, Connecticut, provides excellent visibility and accessibility.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $875,000
      ML approach
      $900,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $760,000
      Market price range: $312k - $760k
      AI Estimate
      $597,000
      Market price range: $214k - $598k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $555,000
      OFFICE BUILDING
      $550,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Naugatuck
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0165
    Latitude
    41.5045
    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
    $29,201
    $83,790
    $568,750
    $652,540
    -
    $0.00
    $0.00
    $0.00

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    • Value Estimation
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      7,242 SF

      140 Brg St

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      151 Elm St

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    • Value Estimation by Request
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      535 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,229 SF
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    • Value Estimation by Request
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      600 Prospect St

      RETAIL STORES (PERSONAL SERVICES) • 8,320 SF
      600 Prospect St, Naugatuck, CT 06770-3120
      View Details
    • Value Estimation
      $555,000
      4,845 SF

      430 Rubber Ave

      RETAIL STORES (PERSONAL SERVICES) • 4,845 SF
      430 Rubber Ave, Naugatuck, CT 06770-3716
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,000 SF

      Downtown Naugatuck Retail/Event Space

      Open retail/event space in downtown Naugatuck.
      175 Church St, Naugatuck, CT 06770
      View Details
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      Prime Commercial Space in Naugatuck

      Spacious commercial property in a high-traffic Naugatuck business district.
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      6,000 SF

      Established Bank Branch For Sale

      Bank branch with a long operating history and large deposits.
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    • $259,900
      Pending

      Mixed-Use Property in Naugatuck

      Mixed-use property with residential units and commercial storefront.
      569 Rubber Ave, Naugatuck, CT 06770
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      7,500 SF

      7,500 SF Retail Center

      Retail center for sale with 7,500 square feet of space.
      909 Prospect St, Naugatuck, CT 06770
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      2,200 SF

      Naugatuck Commercial Storefront For Lease

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    • $1,100 /Mo
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      Naugatuck Retail/Office Space Available

      700 SF retail/office space in a high-traffic Naugatuck location.
      628 New Haven Rd, Naugatuck, CT 06770
      View Details
    • Contact for pricing

      Retail Space For Lease

      Retail space available for lease.
      727 Rubber Ave, Naugatuck, CT 06770
      View Details
    • $9 SF/Yr
      8,320 SF

      Naugatuck Warehouse: 8,320 SF

      Spacious warehouse, ideal for multiple tenants.
      600 Prospect St, Naugatuck, CT 06770
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    • $15 SF/Yr
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      Downtown Office Space For Rent

      1272 sq ft office space in downtown Naugatuck.
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      722 SF

      West Side Apartment with Updates

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    View Listing
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    909 Prospect St
    Naugatuck, CT 06770
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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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