Building Details

Year Built 1900

Listing Agency: Compass Connecticut, LLC

Listed By: John Campbell · License #RES.0769152 Show Phone

Source: Homesbyshoshana

Added: Mar 30 Changed: Oct 14 Last Checked: Oct 7 at 3:31PM

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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 Compass Connecticut, LLC

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Investment Insights

Based on property information with market context.

Located in the Yale Medical Community, directly across from Saint Raphael's, this offering includes two parcels in an RO zone. The first parcel, located at 1455 Chapel, features a 6,343 square foot medical office and residence situated on 0.35 acres with 71 feet of frontage on Chapel Street. The second parcel is a 0.16 acre parking lot adjacent to 1455 Chapel on Sherman Avenue, featuring a 15 foot entrance off Sherman Avenue. Both parcels provide a total of 52 parking spaces. Potential uses include a walk-thru restaurant catering to Yale Medical employees and patients, or a food truck park. The property is suited for various business opportunities due to high foot and car traffic. The price, acreage, and taxes reflect both parcels.

Key Highlights

• Prime location directly across from Saint Raphael's in the heart of the Yale Medical Community.
• Two parcels included: a 6,343 sq ft medical office/residence and an adjacent .16 acre parking lot.
• A total of 52 parking spaces across both parcels.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$104,127

Cap Rate

5.49%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,082,540 $2.1M

Cap Rate 7%

$1,487,529 $1.5M

Cap Rate 9%

$1,156,967 $1.2M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,343 SF

Gross rent

$144.6K $22.80/SF

− Vacancy

−$5.8K −$0.91/SF

EGI

$138.8K $21.89/SF

− OpEx

−$34.7K −$5.47/SF

NOI

$104.1K $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 Rate 5%

$2,082,540

Cap Rate 7%

$1,487,529

Cap Rate 9%

$1,156,967

Alternative Uses

Best Use

Specialty Retail

$1.49M

$1.30M – $1.74M (±1% cap)

NOI $104,127 @ 7.0% cap · market cap 5.49%

Second Best

Healthcare Medical

$1.39M

$1.21M – $1.62M (±1% cap)

NOI $97,162 @ 7.0% cap · market cap 5.13%

Theoretical Best

Office A

$2.04M

$1.79M – $2.38M (±1% cap)

NOI $142,827 @ 7.0% cap · market cap 7.54%

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

Property Analytics

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Current Use

Ranieri Jr Alfred ... Physician Medical Associates-New Haven Physician

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Locksmith Accounting Firm Bakery Butcher Tattoo & Piercing Shop

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

4,547

Businesses Nearby

Under-served

Demand for This Use

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 Office in New Haven, CT

11.9% 2019

12.4% 2020

17.7% 2021

18.8% 2022

18.7% 2023

16.5% 2024

17.2% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical office building with parking in Yale Medical Community.

Where is this medical office space located?

The property is located at 1455 Chapel St New Haven, CT.

What is the asking price?

The asking price for this property is $1,895,000.

What are key features of this property?

This property features: Prime location directly across from Saint Raphael's in the heart of the Yale Medical Community.; Two parcels included: a 6,343 sq ft medical office/residence and an adjacent .16 acre parking lot.; A total of 52 parking spaces across both parcels.