Mixed-Use Building with Street
For Sale
Contact for pricing
1379 Chapel St, New Haven, CT 06511
Mixed-use building with six apartments and a street-level retail suite across from Saint Raphael Hospital.
Property Size4,411 SF
Price / SF$225.57
Days on Market175
Property Features for 1379 Chapel St
General Information
Standard status
Active
Size
4,411 SF
Property subtype
RETAIL
Additional Details
Highway Access
Yes
Multifamily Units
6
Listing Agency:
Northeast Private Client Group | CT/Metro North
(203) 692-2420
Listed By:
Derek Mahabir
(203) 307-1583
Source:
Moodyscre
Added: Mar 16
Changed: Aug 23
Last Checked: Jul 22 at 5:29PM
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 Northeast Private Client Group | CT/Metro North
Investment Insights
Based on property information with market context.
1379 Chapel Street is a mixed-use property offering six apartment units along with one street-level retail suite. The building is positioned to support ongoing rental needs with in-place cash flow, and it also presents value-add opportunities through unit renovations and common area improvements.
The property sits directly across from Saint Raphael Hospital, placing it in a highly walkable, pedestrian-oriented setting. The surrounding area is described as connected to major employment and education demand drivers, with access noted to Union Station, local bus lines, and major highways including I-95 and I-91.
As a residential income asset with retail frontage at street level, the property provides a combined living and commercial component within New Haven’s cultural and academic core.
The property sits directly across from Saint Raphael Hospital, placing it in a highly walkable, pedestrian-oriented setting. The surrounding area is described as connected to major employment and education demand drivers, with access noted to Union Station, local bus lines, and major highways including I-95 and I-91.
As a residential income asset with retail frontage at street level, the property provides a combined living and commercial component within New Haven’s cultural and academic core.
Key Highlights
- Mixed‑use building with 6 apartments and 1 street‑level retail suite
- Located directly across from Saint Raphael Hospital
- In‑place cash flow with immediate cash‑flow noted in remarks
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
$69,088
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
6.94%
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%
$1,381,760
$1.4M
Cap Rate 7%
$986,971
$987.0K
Cap Rate 9%
$767,644
$767.6K
Market Conditions
NOI Build-Up for 4,411 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
$133.9K $30.36/SF
− Vacancy
−$8.3K −$1.88/SF
EGI
$125.6K $28.48/SF
− OpEx
−$56.5K −$12.81/SF
NOI
$69.1K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,381,760
Cap Rate 7%
$986,971
Cap Rate 9%
$767,644
Alternative Uses
Best Use
Apartment 5plus
$987.0K
$863.6K – $1.15M
NOI $69,088 @ 7.0% cap · market cap 6.94%
Second Best
Retail
$909.9K
$796.2K – $1.06M
NOI $63,693 @ 7.0% cap · market cap 6.40%
Theoretical Best
Office A
$1.42M
$1.24M – $1.66M
NOI $99,324 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,571
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?
Apartment building - Mixed-use building with six apartments and a street-level retail suite across from Saint Raphael Hospital.
Where is this apartment building located?
The property is located at 1379 Chapel St New Haven, CT.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Mixed‑use building with 6 apartments and 1 street‑level retail suite; Located directly across from Saint Raphael Hospital; In‑place cash flow with immediate cash‑flow noted in remarks
