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567 Vauxhall St - Waterford Professional Condominium 1,008 - 1,484 SF Office Condo Units Offered at $68,000 - $79,000 Per Unit in Waterford, CT 06385
Investment Highlights
- Central HVAC.
- Handicap accessible.
- Two basement storage areas.
- Convenient to I-95.
Executive Summary
Professional office suite located on the 3rd floor of Waterford Professional Building that is accessed via an elevator or stairs. Approximately 1,008 SQ FT comprised of 4 offices, waiting area, 1/2 bathroom, & a small supplies area. Three of the offices are leased, the 4th office is being used as storage. Their is a shared waiting area. Monthly condo association fee is $479.00, real estate taxes are $105 monthly or $1,264.00 yearly. The landlord states the monthly expenses total $584.00, tenants pay for their own electricity. Water is included in the condo association fee. Monthly rental income is $1,450.00, net monthly income is $866.00, annual income is $10,392.00. Listed for sale at $79,000.00, owner states a 13% Cap Rate. Since the offices are occupied all showings must be scheduled in advance. The Waterford Professional Complex is very close to I-95 with easy access in both directions with ample parking. Three of the four offices are leased, the fourth office could be cleared out & leased, generating additional income or owner-occupied. This is a great investment potential.
2 Units Available
- Unit
- Unit Size
- Condo Use
- Price
- NOI
| Sale Type | Investment | Cap Rate | 13.00% |
| Sale Type | Investment |
| Cap Rate | 13.00% |
Sale Notes
Professional office suite located on the 3rd floor of Waterford Professional Building that is accessed via an elevator or stairs. Approximately 1,008 SQ FT comprised of 4 offices, waiting area, 1/2 bathroom, & a small supplies area. Three of the offices are leased, the 4th office is being used as storage. Their is a shared waiting area. Monthly condo association fee is $479.00, real estate taxes are $105 monthly or $1,264.00 yearly. The landlord states the monthly expenses total $584.00, tenants pay for their own electricity. Water is included in the condo association fee. Monthly rental income is $1,450.00, net monthly income is $866.00, annual income is $10,392.00. Listed for sale at $79,000.00, owner states a 13% Cap Rate. Since the offices are occupied all showings must be scheduled in advance. The Waterford Professional Complex is very close to I-95 with easy access in both directions with ample parking. Three of the four offices are leased, the fourth office could be cleared out & leased, generating additional income or owner-occupied. This is a great investment potential.
| Sale Type | Owner User |
| Sale Type | Owner User |
Sale Notes
Professional office suite located on the 3rd floor of Waterford Professional Building that is accessed via an elevator or stairs. Six suites have been converted into multiple offices, a primary reception area with 3 separate entrances, conference rooms, a kitchen, and 2 half baths for a total of 2,156 SF. The office space occupies the entire end of the building. Unlike most suites, a central HVAC system has been installed within the space. The building is handicap accessible with curb cuts, ramps, and an elevator. Great location convenient to I-95. Ample parking. Perfect for medical, financial, therapist, or any professional services. The Condo Association fee is $933/month for six suites. The Waterford Professional Building is professionally maintained. There are two basement storage units.
Six suites (Suite 320, Suite 321, Suite 327, Suite 328, Suite 329, Suite 330) have been customized to create one contiguous office space. A demising wall can be constructed to divide the six suites into a configuration of 2 suites and 4 suites, each with a half bathroom.
Six suites (Suite 320, Suite 321, Suite 327, Suite 328, Suite 329, Suite 330) have been customized to create one contiguous office space. A demising wall can be constructed to divide the six suites into a configuration of 2 suites and 4 suites, each with a half bathroom.
| Unit | Unit Size | Condo Use | Price | NOI |
| Unit 304-306 | 1,008 SF | Office | $79,000 ($78.37/SF) | $10,270 |
| Unit 327-330 | 1,484 SF | Office | $68,000 ($45.82/SF) | - |
Unit 304-306
| Unit Size |
| 1,008 SF |
| Condo Use |
| Office |
| Price |
| $79,000 ($78.37/SF) |
| NOI |
| $10,270 |
Unit 327-330
| Unit Size |
| 1,484 SF |
| Condo Use |
| Office |
| Price |
| $68,000 ($45.82/SF) |
| NOI |
| - |
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Unit 304-306
| Unit Size | 1,008 SF |
| Condo Use | Office |
| Price | $79,000 ($78.37/SF) |
| NOI | $10,270 |
| Sale Type | Investment |
| Cap Rate | 13.00% |
| Sale Notes | |
| Professional office suite located on the 3rd floor of Waterford Professional Building that is accessed via an elevator or stairs. Approximately 1,008 SQ FT comprised of 4 offices, waiting area, 1/2 bathroom, & a small supplies area. Three of the offices are leased, the 4th office is being used as storage. Their is a shared waiting area. Monthly condo association fee is $479.00, real estate taxes are $105 monthly or $1,264.00 yearly. The landlord states the monthly expenses total $584.00, tenants pay for their own electricity. Water is included in the condo association fee. Monthly rental income is $1,450.00, net monthly income is $866.00, annual income is $10,392.00. Listed for sale at $79,000.00, owner states a 13% Cap Rate. Since the offices are occupied all showings must be scheduled in advance. The Waterford Professional Complex is very close to I-95 with easy access in both directions with ample parking. Three of the four offices are leased, the fourth office could be cleared out & leased, generating additional income or owner-occupied. This is a great investment potential.</li></ul> |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Unit 327-330
| Unit Size | 1,484 SF |
| Condo Use | Office |
| Price | $68,000 ($45.82/SF) |
| NOI | - |
| Sale Type | Owner User |
| Sale Notes | |
| Professional office suite located on the 3rd floor of Waterford Professional Building that is accessed via an elevator or stairs. Six suites have been converted into multiple offices, a primary reception area with 3 separate entrances, conference rooms, a kitchen, and 2 half baths for a total of 2,156 SF. The office space occupies the entire end of the building. Unlike most suites, a central HVAC system has been installed within the space. The building is handicap accessible with curb cuts, ramps, and an elevator. Great location convenient to I-95. Ample parking. Perfect for medical, financial, therapist, or any professional services. The Condo Association fee is $933/month for six suites. The Waterford Professional Building is professionally maintained. There are two basement storage units.<br> <br> Six suites (Suite 320, Suite 321, Suite 327, Suite 328, Suite 329, Suite 330) have been customized to create one contiguous office space. A demising wall can be constructed to divide the six suites into a configuration of 2 suites and 4 suites, each with a half bathroom.</li></ul> |
Property Facts
The following property facts and amenities apply to the entire building. Details for individual condo units may vary and are listed in the unit information above.
| Total Building Size | 37,000 SF | Floors | 3 |
| Property Type | Office | Typical Floor Size | 12,061 SF |
| Property Subtype | Medical | Year Built | 1985 |
| Building Class | B | Parking Ratio | 4.73/1,000 SF |
| Zoning | CG - C-G | ||
| Total Building Size | 37,000 SF |
| Property Type | Office |
| Property Subtype | Medical |
| Building Class | B |
| Floors | 3 |
| Typical Floor Size | 12,061 SF |
| Year Built | 1985 |
| Parking Ratio | 4.73/1,000 SF |
| Zoning | CG - C-G |
Amenities
- 24 Hour Access
- Air Conditioning
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
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Street
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567 Vauxhall St - Waterford Professional Condominium