909 Prospect St Naugatuck, CT 06770
- Retail space
- 4,928 SF
- 1.55 lot acres
Current Use by Public Records
- The Colour boutique eyelash extensions / Beauty Salon
- The Colour Boutique / Hair Salon
- THE HONEY EYED HARE / Tattoo Shop
- Naugatuck Deli / Deli / Caterer
- Capital Quarry Materials LLC / Sand & Gravel Supplier
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 Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $875,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $945,000
- 6.5%
- $895,000
- 7%
- $880,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,010,000
- Geo Method
- $800,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $980,000
- Retail
- $780,000
- Mixed-Use
- $930,000
- Hospitality
- $765,000
- Educational
- $815,000
- Residential Income
- $915,000
- Energy
- $1,035,000
- Income-Based Land
- $800,000
- Food Service
- $1,020,000
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
