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42-58 Bank St, Waterbury, Ct 23,280 SF 80% Leased Retail Building Waterbury, CT 06702 $1,391,177 CAD ($59.76 CAD/SF) 6.45% Cap Rate
Investment Highlights
- Heavy Daylight Traffic
- Bank Tenant
- Option to Build Apartment or Retail Store
Executive Summary
42–58 Bank Street comprises two interconnected commercial buildings totaling 23,280 SF in Waterbury, Connecticut’s downtown district. The property is positioned along the city’s Central Business District retail corridor with direct access to Interstate 84 and Route 8. It is approximately 1.2 miles from the Waterbury Train Station and 1.3 miles from Saint Mary’s Hospital, with additional proximity to UConn’s Waterbury Campus and municipal offices. The surrounding area includes government offices, healthcare facilities, retail services, and residential neighborhoods. Great for owner use 2nd and 3rd floor after renovation. Great For Development with 2nd Floor & 3rd Floor, Nail salon, Skin Care, Beauty salon, Yoga studio...any business. Develop apartment building. Possible Build out Mix Use for Convert Apartment on 2.3 Floor with Just Heating System, Chambers of
Commerce will grant renovation expense.
Commerce will grant renovation expense.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$134,272
|
$5.77
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$134,272
|
$5.77
|
| Taxes |
$27,155
|
$1.17
|
| Operating Expenses |
$17,407
|
$0.75
|
| Total Expenses |
$44,562
|
$1.91
|
| Net Operating Income |
$89,709
|
$3.85
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $134,272 |
| Annual Per SF | $5.77 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $134,272 |
| Annual Per SF | $5.77 |
| Taxes (CAD) | |
|---|---|
| Annual | $27,155 |
| Annual Per SF | $1.17 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $17,407 |
| Annual Per SF | $0.75 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $44,562 |
| Annual Per SF | $1.91 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $89,709 |
| Annual Per SF | $3.85 |
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
23,280 SF
Building Class
C
Year Built
1950
Price
$1,391,177 CAD
Price Per SF
$59.76 CAD
Cap Rate
6.45%
NOI
$89,709 CAD
Percent Leased
80%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.05
Lot Size
0.26 AC
Opportunity Zone
Yes
Zoning
CBD - Is designed to foster high-intensity, walkable, and mixed-use urban centers. These zones prioritize a blend of retail, commercial, office, and residential uses, often featuring multi-story, dense development, while protecting historical, cultural.
Frontage
70’ on Bank St
Amenities
- Bus Line
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Bank of America
- -
- -
- -
- -
- Beauty & Discount
- Retailer
- -
- -
- -
- Lee's Discount Beauty Supply
- Wholesaler
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Bank of America | - | - | - | - | ||
| Beauty & Discount | Retailer | - | - | - | ||
| Lee's Discount Beauty Supply | Wholesaler | - | - | - |
Moderately walkable
70/100
Very drivable
80/100
Exceptional public transit
90/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Total Assessment | $705,349 CAD | |
| Land Assessment | $182,192 CAD | Annual Taxes | $27,155 CAD ($1.17 CAD/SF) |
| Improvements Assessment | $523,156 CAD | Tax Year | 2025 |
Property Taxes
Parcel Numbers
Land Assessment
$182,192 CAD
Improvements Assessment
$523,156 CAD
Total Assessment
$705,349 CAD
Annual Taxes
$27,155 CAD ($1.17 CAD/SF)
Tax Year
2025
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42-58 Bank St, Waterbury, Ct
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