54 High St
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54 High St
6,572 SF 75% Leased Retail Building Waterbury, CT 06704 $699,900 ($106/SF) 8.98% Cap Rate
Investment Highlights
- Cash Flow 9% CAP
- Separate & Tenant Paid Utilities
- Close to Downtown
- Renovated in 2023
- Stable Commercial Tenant
- Great Opportunity
Executive Summary
CASH FLOW & FULLY RENOVATED in 2023! Large corner property with two buildings on two adjacent lots. #58 is a single family residence with 2 beds upstairs, EIK and large open floor plan on main level w/semi-finished basement with laundry hook-ups. New heating system and updated plumbing + new kitchen in this property. The larger building #54 has a large store with three apartments above - all 2 bed/1 bath units. This property has a new roof, siding, windows, electrical, plumbing, + total unit renovations: sheetrock/ceilings, flooring, kitchens, baths, etc.. (all 2023). Both properties have separate, tenant paid utilities - gas heat & hot water. The store has a nice space w/5 year incremental lease. Property is a 9% CAP w/full occupancy. Great opportunity.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
6,572 SF
Building Class
C
Year Built/Renovated
1885/2023
Price
$699,900
Price Per SF
$106
Cap Rate
8.98%
NOI
$62,863
Percent Leased
75%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.51
Land Acres
0.10 AC
Zoning
RM
Parking
6 Spaces (0.91 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
Walk Score ®
Very Walkable (77)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | WATE-000276-000597-000100 | Improvements Assessment | $118,720 |
Land Assessment | $7,630 | Total Assessment | $126,350 |
PROPERTY TAXES
Parcel Number
WATE-000276-000597-000100
Land Assessment
$7,630
Improvements Assessment
$118,720
Total Assessment
$126,350
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54 High St
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