1833 Main StWaterbury, CT 06705

Property Details for 1833 Main St

Year built

1963

Lot size

0.34 AC

Property size (Sq ft)

3,228 SF

Zone code

RM

Property type

Retail properties

Property subtype

Parking lots & garages

APN

WBRY M:0373 B:0108 L:0077

APU

WBRYM0373B0108L0077

Description

This exceptional investment opportunity presents a well-maintained 3,228 square foot automotive service garage situated on a 0.34-acre lot at 1833 E Main Street in Waterbury, Connecticut. The property enjoys a prime location in a highly desirable area of Waterbury, ensuring strong tenant demand and consistent rental income. The building features four convenient drive-in doors, making it ideal for efficient vehicle access and service operations. Currently, the property is under a triple-net lease, generating a monthly rental income of $3,500. The lease includes built-in rent increases over its term and a favorable 5-year option, providing long-term financial stability and predictable cash flow for the investor. This is a turnkey investment, requiring minimal management oversight. The property's excellent condition and strategic location make it an attractive proposition for discerning investors seeking a stable, high-yield commercial asset in a thriving Connecticut market. The asking price of $450,000 represents a compelling value for this established and income-producing property. Don't miss this chance to acquire a proven, profitable commercial investment in a prime Waterbury location.

• CAP approach

  CAP return

  Valuation

  6%

  $784,517

  6.5%

  $724,169

  7%

  $672,443

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,062,862

  Geo Method

  $1,062,862

• Alternative Use

  Use

  Valuation

  Residential

  $610,864

  Hospitality

  $559,548

  Educational

  $465,537

  Medical

  $481,548

  Retail

  $724,169

Location Insight

City

Waterbury

County

New Haven

State

Connecticut

Latitude

41.5451

Longitude

-73.0115

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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