255 Bank St - Office FOR SALE


Waterbury, CT 06702- Downtown Waterbury
$3,995,000 USD
203-509-9512
255 Bank St, Waterbury, CT for Sale
$3,995,000 USD
Office - FOR SALE
1/46
null | 8.06% Cap Rate

255 Bank St
Waterbury, CT 06702
Downtown Waterbury


HIGHLIGHTS

  • 92% occupied investment opportunity
  • 3,871 SF value-add vacancy
  • 8.06% cap rate
  • ±44,454 SF office building

OVERVIEW

Matthews Commercial Properties is pleased to offer 255 Bank Street, a ±44,454 SF multi-tenant office investment located in downtown Waterbury, Connecticut. The four-story elevator-served office building is situated on ±0.62 acres and is currently 92% occupied with approximately 3,871 SF available for lease. The property generates a current NOI of $321,842 and is offered at an 8.06% capitalization rate. Tenancy includes a diverse mix of professional, legal, insurance, and healthcare users with several tenants having exercised renewal options. The building features underground and surface parking for approximately 46 vehicles, central HVAC, wet sprinkler system, and immediate access to I-84 and downtown amenities. The existing vacancy provides an opportunity to increase cash flow through lease-up while benefiting from stable in-place income.

FOR SALE DETAILS

PRICE

$3,995,000 USD

PRICE/SF

$92 USD /SF

CAP RATE

8.06%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

People's Bank Bldg

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

C

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

CBD

APN/PARCEL ID

WATE-000319-000274-000601

ASK ABOUT THIS PROPERTY

Gerry MatthewsMatthews Commercial Properties, LLCMore Info
203-509-9512

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Gerry MatthewsMatthews Commercial Properties, LLCMore Info
203-509-9512

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.