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195 Freight St

34,000 SF Vacant Retail Building Waterbury, CT 06702 £1,658,231 (£49/SF) 6.37% Net Initial Yield

Executive Summary

Redevelopment opportunity for this 1.82 acre property with a 34,000sf former warehouse in the CBD zone of Downtown Waterbury. Some permitted uses are Retail, Dining, Multifamily, Mediical, Office, School, Daycare and Gym. Located across the street is a 20 acre parcel to be developed with the Work,Live,Play theme being promoted. There is a bicycle path now and plans and grants offered for economic development. Property is located on the newly paved Jackson Street and is 1/4 mile from the RT84 and RT8 mix master. The Metro North Train Station is a 2 minute walk. This property has two units to be leased. The social club in the center is currently leased. The two available spaces are a 12,200sf space with 21ft ceilings and a loading dock on the right side for $6sf triple net and a 6,000 sf space with 17ft ceilings and a loading dock on the left side available for lease at $7.50sf triple net. Any tenants signing a two year lease are eligible for both of the city of Waterbury Grant Programs that will match up to $100,000 for the build out and up to $100,000 for equipment costs.

Property Facts

Sale Type
Investment or Owner User
Sale Conditions
1031 Exchange
Property Type
Retail
Property Subtype
Bar
Building Size
34,000 SF
Building Class
C
Year Built
1948
Price
£1,658,231
Price Per SF
£49
Net Initial Yield
6.37%
NOI
£105,664
Percent Leased
Vacant
Tenancy
Multiple
Number of Floors
1
Loading Docks
6 Exterior
Building FAR
0.43
Land Acres
1.80 AC
Zoning
CBD - Central Business District
Parking
44 Spaces (1.29 Spaces per 1,000 SF Leased)
Frontage
447 ft on Freight Street

Amenities

  • Signage

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1st Floor
  • 12,200 SF
  • Industrial
  • -
  • Now

The two available spaces are a 16,200sf space with 21ft ceilings and a loading dock on the right side and a 6,000 sf space with 17ft ceilings and a loading dock on the left side available for lease at $8.00 sf plus triple net. If a tenant has a two year lease, there is grant money available to match money for build out. Grant 1 matches up to $100,000 for the build out and Grant 2 matches up to $100,000 for the equipment.

  • 1st Floor
  • 6,000 SF
  • Retail
  • -
  • Now

The two available spaces are a 16,200sf space with 21ft ceilings and a loading dock on the right side and a 6,000 sf space with 17ft ceilings and a loading dock on the left side available for lease at $8.00 sf plus triple net. If a tenant has a two year lease, there is grant money available to match money for build out. Grant 1 matches up to $100,000 for the build out and Grant 2 matches up to $100,000 for the equipment.

Space Size Space Use Position Available
1st Floor 12,200 SF Industrial - Now
1st Floor 6,000 SF Retail - Now

1st Floor

Size
12,200 SF
Space Use
Industrial
Position
-
Available
Now

1st Floor

Size
6,000 SF
Space Use
Retail
Position
-
Available
Now

1st Floor

Size 12,200 SF
Space Use Industrial
Position -
Available Now

The two available spaces are a 16,200sf space with 21ft ceilings and a loading dock on the right side and a 6,000 sf space with 17ft ceilings and a loading dock on the left side available for lease at $8.00 sf plus triple net. If a tenant has a two year lease, there is grant money available to match money for build out. Grant 1 matches up to $100,000 for the build out and Grant 2 matches up to $100,000 for the equipment.

1st Floor

Size 6,000 SF
Space Use Retail
Position -
Available Now

The two available spaces are a 16,200sf space with 21ft ceilings and a loading dock on the right side and a 6,000 sf space with 17ft ceilings and a loading dock on the left side available for lease at $8.00 sf plus triple net. If a tenant has a two year lease, there is grant money available to match money for build out. Grant 1 matches up to $100,000 for the build out and Grant 2 matches up to $100,000 for the equipment.

  • Listing ID: 31511486

  • Date on Market: 12/09/2023

  • Last Updated:

  • Address: 195 Freight St, Waterbury, CT 06702

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