Mixed-Use Property with Rental
For Sale
$599,900
578 Winchester Avenue, New Haven, CT 06511
Storefront with multi-unit apartments and licenses included.
Property Size3,980 SF
Lot Size0.08 Acres
Price / SF$150.73
Days on Market980
Property Features for 578 Winchester Avenue
General Information
Standard status
Active
Size
3,980 SF
Lot size
0.08 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,233
Amenities
Asphalt Shingle Roof
Concrete Flooring
Dry
Gas on Gas Heating
Level Lot
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Realty
(203) 888-1845
Listed By:
MARILYN PROFIT · License #RES.0821598
Source:
Corcoran
Added: Dec 2, 2023
Changed: Aug 8
Last Checked: Aug 8 at 1:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This mixed-use property presents an opportunity for investors. It features a storefront and three rental apartments, including two 1-bedroom units and one 3-bedroom unit. The listing price encompasses the existing inventory of liquor, beer, soda, juice, and cigarettes, as well as the liquor and lottery licenses. The property is located in New Haven, CT and has a size of 3,980 square feet. This property can be utilized for multiple functions.
Key Highlights
- Includes liquor and lottery licenses.
- Includes liquor, beer, soda, juice, and cigarettes inventories.
- Store front with 3 rental apartments: (2) 1‑bedroom and (1) 3‑bedroom.
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
$54,924
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
9.16%
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%
$1,098,480
$1.1M
Cap Rate 7%
$784,629
$784.6K
Cap Rate 9%
$610,267
$610.3K
Market Conditions
NOI Build-Up for 3,980 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
$95.5K $24.00/SF
− Vacancy
−$7.6K −$1.92/SF
EGI
$87.9K $22.08/SF
− OpEx
−$33.0K −$8.28/SF
NOI
$54.9K $13.80/SF
Area
New Haven, CT
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,098,480
Cap Rate 7%
$784,629
Cap Rate 9%
$610,267
Alternative Uses
Best Use
Apartment 5plus
$890.5K
$779.2K – $1.04M
NOI $62,338 @ 7.0% cap · market cap 10.39%
Second Best
Retail
$821.0K
$718.4K – $957.8K
NOI $57,470 @ 7.0% cap · market cap 9.58%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,619 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Storefront with multi-unit apartments and licenses included.
Where is this mixed-use property located?
The property is located at 578 Winchester Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Includes liquor and lottery licenses.; Includes liquor, beer, soda, juice, and cigarettes inventories.; Store front with 3 rental apartments: **(2) 1‑bedroom and (1) 3‑bedroom.**
