38 Bank Street is located in the heart of Downtown Waterbury, CT. The property spans across approximately 11,901 sq ft. There is a retail store located on the 1st floor, from the streetside with previous residential apartments located above the retail store. This property would make a great re-development opportunity with an abundance of state grant incentives, local tax benefits, and funding from city programs. There is an additional billboard sign located on the roof that oversees the Waterbury Green Park. This location is within walking distance to UCONN of Waterbury, the Palace Theatre, Domenick & Pia's Downtown Pizzeria, and local housing for UCONN residents. Each floor spans about 3,967 sq ft which would accomdate for great use of studio/one bedroom apartment conversions, utilizing the benefits of the state and city grant opportunities that are available. This property can be sold in conjunction with 35 East Main Street, Waterbury, CT for a pro-forma total of approximately 58 residential apartment units, 1 billboard and 6 retail units. Total - $3,900,000 This property qualifies for the following state grants: - CT Communities Challenges Grant - worth up to $10m in grant funding - CT Transit Oriented Development Grant - worth up to $2m in grant funding Local City Grants/Programs: - Urban Act Grant Program - Opportunity Zone - CT Light Rebate - Local Municipal Tax Abatements - Historial Tax Credit
Listed by Berkshire Hathaway NE Prop., Robert E. Betz Jr. Data sourced from SmartMLS
