1231 Whitney Ave, Hamden, CT 06517

Building Details

Building Size 4,080 SF More

Year Built 1925 More

Stories 1 More

Listing Agency: Press/Cuozzo Realtors

Listed By: John Cuozzo · License #REB.0152492 Show Phone

Source: Elliman

Added: Mar 11 Changed: Nov 8 Last Checked: Nov 8 at 6:04AM

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Investment Insights

Based on property information with market context.

Located in the desirable Whitneyville area on the corner of Putnam Avenue, this freestanding, one-story brick retail building offers 4,080 square feet of space in prime condition. The building is currently divided into two spaces, one measuring 3,030 square feet and the other 1,050 square feet, each equipped with new or newer utilities. The space can be easily reconfigured into a larger 4,080 square foot area. The property benefits from high visibility, with approximately 13,300 cars passing by daily. Basement storage is available, measuring 44' x 21', accessible via an outside hatch or an interior staircase. This property presents a great opportunity for either an owner-user or an investor.

Key Highlights

• Prime Whitneyville location on Putnam Avenue.
• Free‑standing 4080 sq ft brick retail building in prime condition.
• Divided into two spaces with separate utilities; easily converted.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$58,914

Cap Rate

8.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,178,280 $1.2M

Cap Rate 7%

$841,629 $841.6K

Cap Rate 9%

$654,600 $654.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,080 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $91,871 @ 7.0% cap · market cap 13.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Storefront properties

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Building Supply Electrical Service Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Average Price Trend$/SF for Storefront properties in New Haven County, CT

$138 Jul

$128 Aug

$132 Sep

$140 Oct

Properties on Market for Storefront properties in New Haven County

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Freestanding retail building in prime location with high traffic.

Where is this storefront property located?

The property is located at 1231 Whitney Ave 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: Prime Whitneyville location on Putnam Avenue.; Free‑standing 4080 sq ft brick retail building in prime condition.; Divided into two spaces with separate utilities; easily converted.