209 Highland AveWaterbury, CT 06708

Property Details for 209 Highland Ave

Year built

1998

Lot size

1.75 AC

Property size (Sq ft)

11,884 SF

Zone code

RM

Property type

Medical offices

Property subtype

Medical centers

APN

WBRY M:0316 B:0622 L:0032

APU

WBRYM0316B0622L0032

Description

This exceptional investment opportunity presents a 14,000 square foot medical office building located at 209 Highland Ave, Waterbury, CT 06708. The property is currently leased to DaVita Dialysis, a Fortune 500 company and leading provider of kidney care, under an absolute NNN lease with a remaining term of 6.2 years and two 5-year options. The lease commenced April 30, 1996, and expires December 31, 2030. The lease features a strong corporate guarantee and annual rent increases of 2%. The property boasts a current NOI of $185,732, resulting in a compelling 6.65% cap rate and an asking price of $2,792,962. Built in 1998, this strategically located asset benefits from a dense urban population

• CAP approach

  CAP return

  Valuation

  6%

  $1,964,780

  6.5%

  $1,813,643

  7%

  $1,684,097

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,552,764

  Geo Method

  $1,552,764

• Alternative Use

  Use

  Valuation

  Residential

  $2,248,918

  Hospitality

  $2,059,996

  Educational

  $1,713,893

  Medical

  $1,772,836

  Retail

  $2,666,056

Location Insight

City

Waterbury

County

New Haven

State

Connecticut

Latitude

41.5517

Longitude

-73.0574

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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