Mixed-Use Building with Street
For Sale
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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 Market220
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: Oct 10
Last Checked: Oct 20 at 10:47PM
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
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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 / Yr
$69,088
Cap Rate
6.94%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
7,571
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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
