Downtown New Haven Mixed-Use
For Sale
$3,500,000
99 Orange St, New Haven, CT 06510
Mixed-use property with restaurant and residential income potential.
Property Size12,362 SF
Price / SF$283.13
Days on Market141
Property Features for 99 Orange St
General Information
Standard status
Active
Size
12,362 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$49,270
Building Details
Year Built
1900
Listing Agency:
Real Broker CT
(413) 333-7776
Listed By:
Michael Spindler · License #RES.0815183
(347) 419-2250
Source:
Ma-cthomes
Added: Apr 24
Changed: Sep 11
Last Checked: Sep 10 at 5:11AM
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 Real Broker CT
Investment Insights
Based on property information with market context.
The Orange Street Collection presents a mixed-use hospitality and residential investment opportunity in downtown New Haven, steps from Yale University. The property features over 5,000 square feet of restaurant space across the main and lower levels, including two full kitchens and a flexible layout. This space is suited for a flagship dining concept, dual operators, or a hospitality-driven reposition. The lower level offers additional potential for lounge, speakeasy, or private event use. Above the restaurant space, eight residential units provide stabilized income and consistent cash flow. This downtown asset offers lease-up potential, strategic location advantages, and strong fundamentals driven by proximity to Yale University, surrounding retail, and vibrant nightlife. It is ideal for investors, 1031 exchange buyers, or owner-operators seeking both income and long-term positioning in a growing urban corridor. The location has a bike score of 98, making it a biker's paradise, a walk score of 97, making it a walker's paradise, and a transit score of 78, indicating excellent transit.
Key Highlights
- Prime Location: Steps from Yale University in Downtown New Haven, offering high foot traffic and access to amenities.
- Mixed‑Use Income Potential: Combines restaurant space with eight residential units for diversified income streams.
- Restaurant Space: Over 5,000 sq ft with two full kitchens, suitable for various hospitality concepts.
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
$202,935
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
5.80%
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%
$4,058,700
$4.1M
Cap Rate 7%
$2,899,071
$2.9M
Cap Rate 9%
$2,254,833
$2.3M
Market Conditions
NOI Build-Up for 12,362 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
$281.9K $22.80/SF
− Vacancy
−$11.3K −$0.91/SF
EGI
$270.6K $21.89/SF
− OpEx
−$67.6K −$5.47/SF
NOI
$202.9K $16.42/SF
Area
New Haven, CT
Vacancy
4.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
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%
$4,058,700
Cap Rate 7%
$2,899,071
Cap Rate 9%
$2,254,833
Alternative Uses
Best Use
Specialty Retail
$2.90M
$2.54M – $3.38M
NOI $202,935 @ 7.0% cap · market cap 5.80%
Second Best
Mixed Use
$2.44M
$2.13M – $2.84M
NOI $170,596 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$3.98M
$3.48M – $4.64M
NOI $278,359 @ 7.0% cap · market cap 7.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,404
Businesses Nearby
33k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 73%
Shops & Services 21%
Apparel 7%
Olive's
Dining
11,610 visits/mo
0.2 miles
Shake Shack
Dining
6,311 visits/mo
0.3 miles
Dunkin' Donuts
Dining
2,883 visits/mo
0.1 miles
Firestone Complete Auto Care
Shops & Services
2,356 visits/mo
0.1 miles
Citizens Bank
Shops & Services
2,302 visits/mo
0.2 miles
Demographics for 06510, CT
4,409
Population
2,953
Households
1.5
Avg Household Size
29
Median Age
82%
College-Educated
96%
High-School Grad
0.3 sq mi
ZIP Area
14,697
Density / Sq Mi
$63,598
Median Household Income
$55,591
Median Earnings
$1,908
Median Rent
$495,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in New Haven, CT
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with restaurant and residential income potential.
Where is this mixed-use property located?
The property is located at 99 Orange St New Haven, CT.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Prime Location: Steps from Yale University in Downtown New Haven, offering high foot traffic and access to amenities.; Mixed‑Use Income Potential: Combines restaurant space with eight residential units for diversified income streams.; Restaurant Space: Over 5,000 sq ft with two full kitchens, suitable for various hospitality concepts.
