Freestanding Corner
For Sale
$675,000
1231 Whitney Avenue, Hamden, CT 06517
Commercial For Sale, Hamden, CT
Property Size4,080 SF
Lot Size0.19 Acres
Price / SF$165.44
Days on Market321
Property Features for 1231 Whitney Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
T3.5
Bathrooms
3
Half bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking
12
Interior features
Window Display
Exterior features
Sidewalk
Lot features
Corner Lot
Directions
Whitney Avenue corner of Putnam Avenue (East Side of Whitney) Whitneyville
Subdivision
Whitneyville
Standard status
Active
Size
4,080 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
16804
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1925
Floors in Building
1
Listing Agency:
Press/Cuozzo Realtors
(203) 288-1900
Listed By:
John Cuozzo · License #REB.0152492
203-288-1900x123
Added: Oct 20, 2025
Changed: Sep 1
Last Checked: Sep 5 at 6:06AM
MLS# 24134788
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This freestanding brick retail building contains 4,080 square feet on a 0.19-acre lot and dates to 1925. The one-story layout is currently arranged as two suites measuring 3,030 square feet and 1,050 square feet, with the option to combine them into a single space. Window display frontage, sidewalk access, central air, and heat pump heating are among the existing features. Basement storage adds 44' x 21' of usable support space, accessible through both an exterior hatch and an interior stairway.
The property is positioned at the corner of Putnam Avenue in Hamden’s Whitneyville area and receives exposure to an estimated 13,300 vehicles daily. It is served by public water and public sewer, with cable available. The property carries T3.5 zoning and includes three bathrooms.
The property is positioned at the corner of Putnam Avenue in Hamden’s Whitneyville area and receives exposure to an estimated 13,300 vehicles daily. It is served by public water and public sewer, with cable available. The property carries T3.5 zoning and includes three bathrooms.
Key Highlights
- 4,080‑square‑foot freestanding brick retail building on 0.19 acres
- Two suites measuring 3,030 square feet and 1,050 square feet
- Basement storage measures 44' x 21' with interior and exterior access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,914
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,178,280
$1.2M
Cap Rate 7%
$841,629
$841.6K
Cap Rate 9%
$654,600
$654.6K
Market Conditions
NOI Build-Up for 4,080 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$88.1K $21.60/SF
− Vacancy
−$4.0K −$0.97/SF
EGI
$84.2K $20.63/SF
− OpEx
−$25.2K −$6.19/SF
NOI
$58.9K $14.44/SF
Area
New Haven, CT
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,178,280
Cap Rate 7%
$841,629
Cap Rate 9%
$654,600
Alternative Uses
Best Use
Retail
$841.6K
$736.4K – $981.9K
NOI $58,914 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,871 @ 7.0% cap · market cap 13.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13,300 VPD
Traffic count
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
7k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
7,082 visits/mo
0.2 miles
Demographics for 06517, CT
14,954
Population
6,875
Households
2.2
Avg Household Size
45
Median Age
52%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
2,991
Density / Sq Mi
$97,154
Median Household Income
$58,025
Median Earnings
$1,351
Median Rent
$313,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - One-story retail property with flexible suite configuration, window display frontage, basement storage, and public utilities.
Where is this storefront property located?
The property is located at 1231 Whitney Avenue Hamden, CT.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 4,080‑square‑foot freestanding brick retail building on 0.19 acres; Two suites measuring 3,030 square feet and 1,050 square feet; Basement storage measures 44' x 21' with interior and exterior access
