Office & Medical Space For Sale

95 Scovill Street Waterbury, CT 06706

  • 9,000 Square Feet
  • Office Healthcare-Medical
  • For Sale

Summary Description

Colliers International and Ten-X have been engaged as the exclusive marketing team to the Seller in connection with sale by auction of the property known as Croft Commons located on Scovill Street in Waterbury, CT (the "Property").Constructed in 1910 and renovated in 1985, Croft Commons is a 92,512 SF office building. Sited on 2 acres of land within the CBD of downtown Waterbury. The property is currently occupied by 3 tenants occupying 44,310 SF, however all leases have expired and two of the three tenants (St. Mary's Hospital and Staywell) have indicated they intend to vacate. Ownership has formally presented all occupants with legal notice to vacate the premises.This sale offers prospective purchasers an opportunity to invest in a well-located value-add property with significant upside potential at a fraction of replacement cost. In addition, we believe the asset presents developers an opportunity to reposition the property for alternate uses included multifamily conversion, academic, non-profit or other uses. The property was converted from a former Waterbury high school to office and medical use in the 1980's. In its present condition the property needs a full roof replace.

In its present condition the property needs a full roof replacement. Three independent estimates of replacement range from approximately $600k to just over $700k and are included in the due diligence materials on the auction site.

Area Available: 9,000 Square Feet

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