Building Details

Year Built 1900

Listing Agency: Press/Cuozzo Realtors Show Phone

Listed By: MARK FOREMAN · License #RES.0827812 Show Phone

Source: Corcoran

Added: Mar 25 Changed: Aug 14 Last Checked: Aug 21 at 3:45AM

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Investment Insights

Based on property information with market context.

Located in the heart of the Whitneyville neighborhood, 1242 Whitney Avenue is a mixed-use investment property. The building is fully occupied and turnkey, offering strong in-place income. The property features two established retail tenants on the ground floor and a fully leased residential apartment on the second floor. A full basement provides ample storage. Five paved off-street parking spaces are included. The building is in excellent condition, with a new roof installed in 2023. The property is strategically located, offering quick access to downtown New Haven and is just minutes from Yale University, Quinnipiac University, major employment centers, and key transportation routes. The area's mix of local businesses, residential density, and strong community character enhances the property's appeal. The property size is 5058 square feet.

Key Highlights

• Fully occupied, turnkey mixed‑use investment property with strong in‑place income.
• Five paved off‑street parking spaces, a premium in the area.
• New roof installed in 2023, indicating excellent condition.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$69,800

Cap Rate

8.73%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,396,000 $1.4M

Cap Rate 7%

$997,143 $997.1K

Cap Rate 9%

$775,556 $775.6K

Market Conditions

NOI Build-Up for 5,058 SF

Gross rent

$121.4K $24.00/SF

− Vacancy

−$9.7K −$1.92/SF

EGI

$111.7K $22.08/SF

− OpEx

−$41.9K −$8.28/SF

NOI

$69.8K $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 Rate 5%

$1,396,000

Cap Rate 7%

$997,143

Cap Rate 9%

$775,556

Alternative Uses

Best Use

Mixed Use

$997.1K

$872.5K – $1.16M (±1% cap)

NOI $69,800 @ 7.0% cap · market cap 8.73%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.63M

$1.42M – $1.90M (±1% cap)

NOI $113,892 @ 7.0% cap · market cap 14.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

The Soup Girl Take-out & Catering The Scoop Girl Grocery & Convenience Store

Suggested Use

Top Pick Real Estate Agency Law Firm HVAC Service Building Supply Skin Care Clinic Electrical Service

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

287

Businesses Nearby

Explore this area Business Placement

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Fully occupied mixed-use property in Whitneyville neighborhood with strong income.

Where is this mixed-use property located?

The property is located at 1242 Whitney Avenue Hamden, CT.

What is the asking price?

The asking price for this property is $799,900.

What are key features of this property?

This property features: Fully occupied, turnkey mixed‑use investment property with strong in‑place income.; Five paved off‑street parking spaces, a premium in the area.; New roof installed in 2023, indicating excellent condition.