649 W Main St - Freestanding FOR SALE


Waterbury, CT 06702- Downtown Waterbury
$6,998,000 USD
248-702-0288
649 W Main St, Waterbury, CT for Sale
$6,998,000 USD
Freestanding - FOR SALE
1/10
null | 8.4% Cap Rate

649 W Main St
Waterbury, CT 06702
Downtown Waterbury


HIGHLIGHTS

  • Well-Positioned, 91% Occupied Retail Center with Two Out Lots
  • Long-Term Tenancy: Many Tenants have been in Place Since the Property's Inception; Indicating Stability.
  • Anchor Tenants: Walgreens, Advance Auto Parts, KFC, Monro Muffler
  • Upside Available Thru Lease-Up of Vacant Space and All Leases Have Upcoming Rent Increases or No Remaining Renewal Options
  • Out Parcels Included in Sale: Free-Standing KFC w/ Drive-Thru and Free Standing Monro Muffler
  • Strategically Located Between Two Major Hospital Systems

OVERVIEW

Encore REIS is pleased to present Century Plaza, a 91% occupied multi-tenant retail center situated on 4.23 acres at a highly visible, signalized hard-corner intersection in Waterbury, Connecticut - just east of the downtown district. Built in 1994, the attractively constructed center features a drive-thru pharmacy pickup window, prominent pylon signage at the intersection of Thomaston Avenue and West Main Street, and multiple points of ingress/egress, with combined daily traffic counts exceeding 40,000 vehicles per day. Anchored by long-term national tenants including Walgreens, Advance Auto Parts, KFC (drive-thru), and Monro Muffler, all of whom have operated at the property since its inception. The stabilized center offers immediate rental growth through in-place lease escalations and limited tenant renewal options. Two income-producing outlots, KFC and Monro Muffler, are included in the offering. The property enjoys close proximity to Interstate 84 (200,000+ VPD), major retail corridors, and is strategically located between two regional hospitals: Waterbury Hospital (357 beds) just 0.6 miles away and St. Mary’s Hospital, a Yale-affiliated 347-bed facility, only 1 mile away.

FOR SALE DETAILS

PRICE

$6,998,000 USD

PRICE/SF

$191 USD /SF

CAP RATE

8.4%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

91% Occupied Retail Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

225

LAND DETAILS

LAND ACRES

4.16 AC

LAND SF

181,210 SF

ZONING

IG

APN/PARCEL ID

WATE-000272-000022-000023

ASK ABOUT THIS PROPERTY

Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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