Exceptional opportunity to acquire a ~93, 000 SF institutional building located at 44 Abbott Terrace in Waterbury. Formerly operated as a skilled nursing facility, this expansive, elevator-served property offers significant potential for adaptive reuse or redevelopment. The building features an existing residential-style layout with numerous rooms, common areas, commercial kitchen infrastructure, and full mechanical systems already in place-providing a strong foundation for conversion to multifamily, affordable housing, assisted living, behavioral health, or other institutional uses. Recent capital improvements include a new roof installed in...
Exceptional opportunity to acquire a ~93, 000 SF institutional building located at 44 Abbott Terrace in Waterbury. Formerly operated as a skilled nursing facility, this expansive, elevator-served property offers significant potential for adaptive reuse or redevelopment. The building features an existing residential-style layout with numerous rooms, common areas, commercial kitchen infrastructure, and full mechanical systems already in place-providing a strong foundation for conversion to multifamily, affordable housing, assisted living, behavioral health, or other institutional uses. Recent capital improvements include a new roof installed in 2019, helping reduce near-term capital expenditure requirements. Situated within a CBD-zoned area, the property benefits from a central location with access to local amenities, transit, and a dense surrounding population. Preliminary analysis suggests the potential to support a high-density residential conversion. The property is currently vacant, and the prior healthcare license is no longer active. Offered at $4, 750, 000 (~$51/sf), this represents a compelling basis opportunity for investors and developers seeking scale and value-add potential.
Exceptional opportunity to acquire a ~93, 000 SF institutional building located at 44 Abbott Terrace in Waterbury. Formerly operated as a skilled nursing facility, this expansive, elevator-served property offers significant potential for adaptive reuse or redevelopment. The building features an existing residential-style layout with numerous rooms, common areas, commercial kitchen infrastructure, and full mechanical systems already in place-providing a strong foundation for conversion to multifamily, affordable housing, assisted living, behavioral health, or other institutional uses. Recent capital improvements include a new roof installed in 2019, helping reduce near-term capital expenditure requirements. Situated within a CBD-zoned area, the property benefits from a central location with access to local amenities, transit, and a dense surrounding population. Preliminary analysis suggests the potential to support a high-density residential conversion. The property is currently vacant, and the prior healthcare license is no longer active. Offered at $4, 750, 000 (~$51/sf), this represents a compelling basis opportunity for investors and developers seeking scale and value-add potential.
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