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Office over Retail or Residential over Retail 17-21 Elizabeth St
23,175 SF 85% Leased Retail Building Derby, CT 06418 $1,500,000 ($65/SF) 7.84% Cap Rate
Investment Highlights
- 7.8% CAP RATE with the potential for a 9% CAP RATE
- Current PENDING GROSS income: $144,401/Potential: $162,401.28
- Convert opportunity for Residential over Retail & Restaurant
- 23,175 TOTAL SF, .28 of an Acre, Zoning: CDD
- Professional office over Retail & Restaurant
- Downtown Derby, off of Rte 34/Route 8 and Shelton Border
Executive Summary
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$139,600
|
$6.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$139,600
|
$6.02
|
| Taxes |
$17,490
|
$0.75
|
| Operating Expenses |
$9,373
|
$0.40
|
| Total Expenses |
$26,863
|
$1.16
|
| Net Operating Income |
$112,737
|
$4.86
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $139,600 |
| Annual Per SF | $6.02 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $139,600 |
| Annual Per SF | $6.02 |
| Taxes | |
|---|---|
| Annual | $17,490 |
| Annual Per SF | $0.75 |
| Operating Expenses | |
|---|---|
| Annual | $9,373 |
| Annual Per SF | $0.40 |
| Total Expenses | |
|---|---|
| Annual | $26,863 |
| Annual Per SF | $1.16 |
| Net Operating Income | |
|---|---|
| Annual | $112,737 |
| Annual Per SF | $4.86 |
Property Facts
Amenities
- Bus Line
- Freeway Visibility
- Restaurant
- Security System
- Signage
- Accent Lighting
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
SUITE E: Professional office suite with a large waiting room and 6 large individual offices. The unit is approximately 1250 SF. This would make an ideal location for a therapy group or other professional business. Very low rate for the amount of space and location. Only $1500 per month plus utilities. ** Note that the owner is considering leasing out each individual office for $550 per month for offices with windows (4 of the offices have windows) and $500 for each office without a window (2 of the offices do not have windows). One larger office with windows is $600 per month. Location is next to Derby Town Hall, just off of Route 34 and Route 8 on the Shelton line. Parking on the street or public garage across the street.
| Space | Size | Space Use | Position | Available |
| E | 1,250 SF | Office | - | Now |
E
| Size |
| 1,250 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
E
| Size | 1,250 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
SUITE E: Professional office suite with a large waiting room and 6 large individual offices. The unit is approximately 1250 SF. This would make an ideal location for a therapy group or other professional business. Very low rate for the amount of space and location. Only $1500 per month plus utilities. ** Note that the owner is considering leasing out each individual office for $550 per month for offices with windows (4 of the offices have windows) and $500 for each office without a window (2 of the offices do not have windows). One larger office with windows is $600 per month. Location is next to Derby Town Hall, just off of Route 34 and Route 8 on the Shelton line. Parking on the street or public garage across the street.
-
Jeanette Politano -
Coldwell Banker Commercial Realty
Presented by
Office over Retail or Residential over Retail | 17-21 Elizabeth St
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