Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    506 Whitfield St Guilford, CT 06437

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $4,250,000

    Waterfront property suitable for office, restaurant, or residential redevelopment.

    Lot size:
    0.59 Acres

    Property Features for 506 Whitfield St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.59 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Joseph Piscitelli
    Source: Elliman

    Listing Agency: Coldwell Banker Realty Listing Agent: Joseph Piscitelli

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Waterfront Property with Redevelopment Potential

    This waterfront property, known as The Old Stone House, is currently utilized as offices and a research laboratory. The location is suitable for marine use, boat sales, or possible residential condominiums. The sale includes a portion of Lots 81, 82, and 100. Note that town maps should not be used, as the current owner will divide a small portion of the properties. All lot lines are subject to approvals and should not be considered accurate at this time. The property is conveniently located near the Village, train station, Yale University, and Bradley International Airport, and is 75 miles from NYC. The property could be refitted to accommodate a high-end restaurant. The property at 506 Whitfield can be sold with 530 Whitfield MLS# 24000145 for a possible compound or campus.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Guilford
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.6663195
    Latitude
    41.2729281

    Nearby Similar for Sale

    • $1,195,000
      2,392 SF

      Guilford Multi-Family Investment Opportunity

      Four-unit property in Guilford with immediate income potential.
      51 Pearl St, Guilford, CT 06437
      View Details
    • $325,000
      1,200 SF

      Commercial Building Overlooking Guilford Mill

      Commercial building with showroom, office space, and excellent visibility.
      51 Mill Rd, Guilford, CT 06437
      View Details
    • $959,000

      Historical Colonial Home with Water Views

      Authentic 1710 Colonial with water views and historical significance.
      575 Leetes Island Rd, Guilford, CT 06437
      View Details
    • $295,000
      1,614 SF

      Professional Office Condominium For Sale

      Professional office condominium ideal for medical or wellness uses.
      666 Boston Post Rd, Guilford, CT 06437
      View Details
    • $167,000
      2,196 SF

      2nd Floor Office Condominium

      2,196 SF office condo with private offices and amenities.
      1791-1795 Boston Post Rd, Guilford, CT 06437
      View Details
    • $729,000
      1,804 SF

      Versatile Guilford Green District Property

      Downtown Guilford property with multi-use potential and recent renovations.
      26 Water St, Guilford, CT 06437
      View Details
    • $550,000
      Pending

      Historic Multifamily Property Near Guilford Green

      Multifamily property near Guilford Green, ideal for restoration.
      174 Whitfield St, Guilford, CT 06437
      View Details
    • $1,195,000

      Guilford Multi-Family Investment Opportunity

      Four-unit property in Guilford with income potential and expansion possibilities.
      51 Pearl St, Guilford, CT 06437
      View Details
    • Contact for pricing
      9,396 SF

      Renovated Retail Building on Route 1

      9,396 SF renovated retail building with convenient highway access.
      588 Boston Post Rd, Guilford, CT 06437
      View Details
    • $1,275,000
      2,787 SF

      Mixed-Use Redevelopment Opportunity Guilford

      Rare mixed-use redevelopment opportunity in the heart of Guilford.
      1161 Boston Post Rd, Guilford, CT 06437
      View Details
    • $35,000,000

      Uncas Point Road Property

      Property at 215 Uncas Point Rd, Guilford, CT 06437.
      215 Uncas Point Rd, Guilford, CT 06437
      View Details
    • $2,950,000

      Unique Guilford Specialty Property

      Specialty property available for sale in Guilford, Connecticut.
      76 Sachem Head Rd, Guilford, CT 06437
      View Details

    FAQs

    What type of property is this?
    Office building - Waterfront property suitable for office, restaurant, or residential redevelopment.
    Where is this office building located?
    The property is located at 506 Whitfield St Guilford, CT.
    What is the asking price?
    The asking price for this property is $4,250,000.
    What are key features of this property?
    This property features: - Waterfront property with potential for various uses like restaurant, marine, or residential.; - Strategic location convenient to Village, Train, Yale, and Bradley International Airport.; - **Own a piece of history with the unique character of the "Old Stone House."**
    (203) 982-3511
    Request Owner's contact information
    506 Whitfield St Guilford, CT 06437
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    506 Whitfield St
    Guilford, CT 06437
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    506 Whitfield St Guilford, CT 06437
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Joseph Piscitelli
    Real Estate License ID: RES.0542931
    (203) 982-3511 (203) 878-7424
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!