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.
Please note...Inventory is included. This Dollar Plus and Party Store business has been in Watertown for over 13 years. Before that it was in Waterbury for 7 years. The store is in a shopping plaza and is 1,700 s.f. It is full of party goods, balloons and miscellaneous merchandise that is usually found in Dollar and variety stores. The store is no longer only a dollar store. Now prices go up from a dollar to $2, $2.50, and with a few items over $3.50. So, if you want to be your own boss and you are experienced in low priced retail merchandising - take a look. Experience is recommended as no financial info will be available - excepting operating costs. When you make an Offer, if acceptable, you will have time to observe and ask the Owner and your advisors any questions you might have on this business and industry. Store hours are Monday - Friday 10:00 to 6:00, Saturday 9:00 to 4:00 and Sunday 10:00 to 2:00. Total of 51 hours. The store is in a small, fairly new shopping plaza with 9 other stores. Plenty of parking. Base Rent is $1,900 per month plus $500 for the CAM (common area maintenance) and $600 for R.E. Taxes. Total rent is $3,000. The Owner is now month to month so a new lease will have to be negotiated with the landlord.
11.96 acres with multi-use zoning, this property is ideal for industrial or residential development and offers unlimited potential. The parcel features a well-maintained split-level home, combining comfort with flexibility for future expansion or redevelopment. Enjoy easy highway access, close proximity to retail and amenities, and the freedom to bring your vision to life.
Watertown is located in Connecticut. Watertown, Connecticut has a population of 22,110. Watertown is more family-centric than the surrounding county with 28.02% of the households containing married families with children. The county average for households married with children is 26.17%.
The median household income in Watertown, Connecticut is $81,357. The median household income for the surrounding county is $84,797 compared to the national median of $69,021. The median age of people living in Watertown is 46.5 years.
The average high temperature in July is 82.5 degrees, with an average low temperature in January of 14.1 degrees. The average rainfall is approximately 51.9 inches per year, with 40.3 inches of snow per year.
