Healthcare Facility with Development
For Sale
Contact for pricing
181 Clifton St, New Haven, CT 06513
Existing healthcare facility with redevelopment or continued use options.
Property Size34,382 SF
Price / SF$290.85
Days on Market1211
Property Features for 181 Clifton St
General Information
Standard status
Active
Size
34,382 SF
Property subtype
Senior Living
Zoning
RS2
Building Details
Year Built
1958
Stories
3
Listing Agency:
KNG REALTY, LLC
Listed By:
Ken Ginsberg · License #CT REB.0261354
Source:
Crexi
Added: May 12, 2023
Changed: Aug 21
Last Checked: Sep 2 at 5:19PM
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 KNG REALTY, LLC
Investment Insights
Based on property information with market context.
This 34,382-square-foot property is currently operating as a business slated for relocation to a newly constructed facility. The current owners are open to a sale-leaseback arrangement until their new facility is completed, offering the buyer flexibility in timing for use or development. The property is suitable for a nonprofit rehabilitation center or adult care facility. The existing healthcare-accessible medical facility presents various options for potential use. The property is located in New Haven, CT.
Key Highlights
- Sale‑leaseback opportunity allows for immediate income generation.
- Significant cost savings compared to building new.
- Healthcare accessible medical facility with many potential uses.
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
$538,516
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
5.39%
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%
$10,770,320
$10.8M
Cap Rate 7%
$7,693,086
$7.7M
Cap Rate 9%
$5,983,511
$6.0M
Market Conditions
NOI Build-Up for 34,382 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
$1.04M $30.36/SF
− Vacancy
−$64.7K −$1.88/SF
EGI
$979.1K $28.48/SF
− OpEx
−$440.6K −$12.81/SF
NOI
$538.5K $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%
$10,770,320
Cap Rate 7%
$7,693,086
Cap Rate 9%
$5,983,511
Alternative Uses
Best Use
Apartment 5plus
$7.69M
$6.73M – $8.98M
NOI $538,516 @ 7.0% cap · market cap 5.39%
Second Best
Healthcare Medical
$7.52M
$6.58M – $8.78M
NOI $526,663 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$11.06M
$9.68M – $12.90M
NOI $774,189 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
231
Businesses Nearby
Explore this area
Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Rehabilitation center - Existing healthcare facility with redevelopment or continued use options.
Where is this rehabilitation center located?
The property is located at 181 Clifton St New Haven, CT.
What is the asking price?
The asking price for this property is $9,999,999.
What are key features of this property?
This property features: Sale‑leaseback opportunity allows for immediate income generation.; Significant cost savings compared to building new.; Healthcare accessible medical facility with many potential uses.
