Two-Unit Medical Office
For Sale
$595,000
761 Campbell Avenue, West Haven, CT 06516
COMMERCIAL - West Haven, CT
Property Size2,384 SF
Lot Size0.18 Acres
Price / SF$249.58
Days on Market99
Property Features for 761 Campbell Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
NB
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3
Parking
13
Security features
Security System
Interior features
Employee Lounge,Fire Suppression System,Handicap Design,Living Space Available,Public Restrooms,Security System
Exterior features
Sidewalk,Lighting
Accessibility
Accessible Approach with Ramp
Lot features
Level Lot, Cleared
Directions
Use GPS
Standard status
Active
Size
2,384 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7217
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Building Details
Year built
1976
Floors in Building
2
Listing Agency:
RE/MAX RISE · RE/MAX International
(203) 714-6479
Listed By:
Camron Cottam · License #RES.0820706
(508) 410-5371
Added: May 9
Changed: Aug 4
Last Checked: Aug 15 at 5:06AM
MLS# 24173892
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.
761 Campbell Avenue is a two-unit commercial building suited to medical and professional use in zoning NB. The property’s first floor is occupied by a medical tenant, while the second floor is currently generating income through Furnished Finder and Airbnb. New ownership can continue the short-term rental use or pursue other office and professional configurations consistent with local zoning allowances.
Built in 1976, the building is sited on a 0.18-acre lot and contains 2,384 SF. The property includes central air cooling, public restrooms, a security system, and a fire suppression system. Interior features also reference handicap design and an accessible approach with a ramp.
Services are supported by public water and public sewer. Exterior amenities include sidewalk frontage and lighting, supporting day-to-day visibility for occupants and visitors along Campbell Avenue in West Haven.
Built in 1976, the building is sited on a 0.18-acre lot and contains 2,384 SF. The property includes central air cooling, public restrooms, a security system, and a fire suppression system. Interior features also reference handicap design and an accessible approach with a ramp.
Services are supported by public water and public sewer. Exterior amenities include sidewalk frontage and lighting, supporting day-to-day visibility for occupants and visitors along Campbell Avenue in West Haven.
Key Highlights
- Two‑unit building with medical tenant on the first floor and Furnished Finder/Airbnb on the second floor
- 0.18‑acre lot at 761 Campbell Avenue
- 2,384 SF commercial building
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
$37,340
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
6.28%
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%
$746,800
$746.8K
Cap Rate 7%
$533,429
$533.4K
Cap Rate 9%
$414,889
$414.9K
Market Conditions
NOI Build-Up for 2,384 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
$72.4K $30.36/SF
− Vacancy
−$4.5K −$1.88/SF
EGI
$67.9K $28.48/SF
− OpEx
−$30.6K −$12.81/SF
NOI
$37.3K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$746,800
Cap Rate 7%
$533,429
Cap Rate 9%
$414,889
Alternative Uses
Best Use
Apartment 5plus
$533.4K
$466.8K – $622.3K
NOI $37,340 @ 7.0% cap · market cap 6.28%
Second Best
Healthcare Medical
$521.7K
$456.5K – $608.6K
NOI $36,518 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$766.9K
$671.0K – $894.7K
NOI $53,681 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,669
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Two-unit medical-focused building in zoning NB with central air and accessible ramp for tenant and visitor comfort.
Where is this medical office space located?
The property is located at 761 Campbell Avenue West Haven, CT.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two‑unit building with medical tenant on the first floor and Furnished Finder/Airbnb on the second floor; 0.18‑acre lot at 761 Campbell Avenue; 2,384 SF commercial building
