51 Depot Street 106, Watertown, CT 06795
Litchfield County
Key Facts
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.
Property Information
Property Type
Commercial Sale
Year Built
1985
Living Area
588 sq ft
Zoning
BC
Days on Market
1
MLS® Listing#
24164559
Property Features
Interior
Cooling
Heating
Flooring
Lot Features
Construction
Foundation
Roof
Security
Sewer
Water Source
Financial Details
HOA
$179 / Monthly
Annual Taxes
$1,504
Parcel Number
911257
Directions
GPS Friendly
Affordability Calculator
$13,980
Estimated monthly payment
$372/mo
Principal $55,920 · Est. interest $78,013 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Watertown, CT
- $409,091
- Median Listing Price
- 40
- Median Days on Market
- 1,558
- Median Sq Ft
- $263
- Median Price / Sq Ft
- 37
- Active Listings
- This home’s price is 83% below the area median.
- Its price per sq ft is 55% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Watertown, CT.
Location
Map is currently unavailable for this location.
Points of Interest in Watertown, CT
Showing the Watertown area map.
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| Falls Ave Falls Avenue, Watertown, CT | $50,000 | — | — | — |
| 243 Porter Street 243, Watertown, CT | $54,900 | — | 1 | 376 |
| Old Colonial Road, Watertown, CT | $89,900 | — | — | — |
Moving Cost Estimate
EXIT Agents in Watertown
Listing Courtesy: West View Properties, LLC - (203) 217-2326
Presented by: Justin Cabral