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$ 69,900
Est. payment /mo
Active
51 Depot Street #106 Watertown, CT 06795
1 Bath
588 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 588 sqft
Price per Sqft $118
MLS Listing ID 24164559
Half Baths 1
HOA Fees $179/mo
Year Built 1985
Annual Tax Amount $1,504
Property Description
Rare opportunity to own a retail/office condominium in the heart of downtown Watertown! Unit #106 at 51 Depot Street is a 588 SF commercial condo located within Depot Square Mall - a thriving mixed-use center situated between Route 63 (Main Street) and Route 6, carrying a combined 24,300 vehicles per day. Offered at $69,900, carrying costs are exceptionally low with annual taxes of just $1,504 and condo fees of $179.10/month. Investment Highlights: At $20/SF market rent, this unit projects a 9.91% cap rate and a 15.70% cash-on-cash return at 25% down (7.0%, 30-year financing) - an exceptional return profile at this price point. One of the only units in Depot Square Mall with a private in-unit bathroom - a significant advantage for any service or wellness-based business. Formerly operated as a hair salon, the space is ideally suited for a variety of owner-occupant uses including hair/nail salon, barbershop, massage or skincare studio, tattoo studio, chiropractic or counseling office, photography studio, or any professional service office use. Flexible commercial zoning supports office, retail, and business uses. Frame and brick construction (1985), concrete foundation and flooring. Business not included. For full financial analysis, demographics, traffic counts, and market data, see the attached Offering Memorandum. Buyer to verify all information and conduct independent due diligence including review of condo association documents.
Location
State CT
County Litchfield
Zoning BC
Interior
Interior Features Elevator, Fire Suppression System, Handicap Design, Public Restrooms, Security System, Window Display
Heating Hot Air
Cooling Central Air
Flooring Concrete
Exterior
Utilities Available Electric, Gas
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Justin Cabral • West View Properties, LLC
NEARBY SCHOOL & BUSINESS