Neighborhood Convenience
New
For Sale
$135,000
1936 STATE Street, Hamden, CT 06517
Business For Sale, Hamden, CT
Property Size750 SF
Price / SF$180
Days on Market1
Property Features for 1936 STATE Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
GPS Friendly
Standard status
Active
Size
750 SF
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Listing Agency:
Century 21 AllPoints Realty · Century 21 Real Estate
(203) 265-1931
Listed By:
Dhaval Patel · License #RES.0814063
(203) 606-5834
Added: Sep 8
Last Checked: Sep 8 at 11:06PM
MLS# 24205411
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 750-square-foot neighborhood retail business operates from 1936 State Street in Hamden. The offering includes beer, wine, spirits, cigarettes, and lottery products, providing a range of convenience-oriented merchandise within a compact storefront format.
The property is served by public water and public sewer and has window unit cooling. The business has operated in the local community for years and is suited to an owner-operator or retailer seeking an established neighborhood operation.
The property is served by public water and public sewer and has window unit cooling. The business has operated in the local community for years and is suited to an owner-operator or retailer seeking an established neighborhood operation.
Key Highlights
- 750 square feet of retail space
- Beer, wine, and spirits offered
- Cigarettes and lottery products included
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
$12,312
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
9.12%
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%
$246,240
$246.2K
Cap Rate 7%
$175,886
$175.9K
Cap Rate 9%
$136,800
$136.8K
Market Conditions
NOI Build-Up for 750 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
$17.1K $22.80/SF
− Vacancy
−$684 −$0.91/SF
EGI
$16.4K $21.89/SF
− OpEx
−$4.1K −$5.47/SF
NOI
$12.3K $16.42/SF
Area
New Haven, CT
Vacancy
4.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$246,240
Cap Rate 7%
$175,886
Cap Rate 9%
$136,800
Alternative Uses
Best Use
Specialty Retail
$175.9K
$153.9K – $205.2K
NOI $12,312 @ 7.0% cap · market cap 9.12%
Second Best
Retail
$154.7K
$135.4K – $180.5K
NOI $10,830 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$241.3K
$211.1K – $281.5K
NOI $16,888 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
24k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 63%
Dining 37%
Dunkin' Donuts
Dining
8,928 visits/mo
0.1 miles
Dollar General
Shops & Services
8,907 visits/mo
0.1 miles
Citgo
Shops & Services
6,308 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
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Established retail business offering beverages, tobacco products, and lottery sales from a compact storefront.
Where is this grocery and convenience store located?
The property is located at 1936 STATE Street Hamden, CT.
What is the asking price?
The asking price for this property is $135,000.
What are key features of this property?
This property features: 750 square feet of retail space; Beer, wine, and spirits offered; Cigarettes and lottery products included
