Two-Story Drug Store
For Sale
$1,890,000
2348 Whitney Avenue, Hamden, CT 06518
Commercial For Sale, Hamden, CT
Property Size11,800 SF
Lot Size0.99 Acres
Price / SF$160.17
Days on Market292
Property Features for 2348 Whitney Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
T5
Lot features
Dry, Level Lot
Directions
Corner of Dixwell Ave and Whitney Ave
Standard status
Active
Size
11,800 SF
Lot size
0.99 Acres
Additional Details
Corner Location
Yes
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
30807
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s), Central Air, Ductless, Wall Unit(s)
Water source
Public
Building Details
Year built
1940
Floors in Building
2
Listing Agency:
Houlihan Lawrence WD
(203) 787-6888
Listed By:
Young Lee
(203) 499-8259
Added: Jan 6
Changed: Oct 25
Last Checked: Oct 25 at 1:06PM
MLS# 24147397
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This two-story drug store property contains 11,800 square feet on a 0.99-acre parcel. Built in 1940, the building is located in a T5 zone and is served by public water and public sewer. Cooling systems include window units, wall units, ductless equipment, and central air.
The property occupies the corner of Dixwell Avenue and Whitney Avenue in Hamden, near Town Hall, the police and fire stations, Yale, SCSU, UNH, Yale Hospital, and St. Raphael Hospital. Route 15 is also nearby, providing access to the surrounding area.
The property occupies the corner of Dixwell Avenue and Whitney Avenue in Hamden, near Town Hall, the police and fire stations, Yale, SCSU, UNH, Yale Hospital, and St. Raphael Hospital. Route 15 is also nearby, providing access to the surrounding area.
Key Highlights
- 11,800 square feet on a 0.99‑acre parcel
- Two‑story building constructed in 1940
- T5 zoning designation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$170,387
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,407,740
$3.4M
Cap Rate 7%
$2,434,100
$2.4M
Cap Rate 9%
$1,893,189
$1.9M
Market Conditions
NOI Build-Up for 11,800 SF
Gross rent
$254.9K $21.60/SF
− Vacancy
−$11.5K −$0.97/SF
EGI
$243.4K $20.63/SF
− OpEx
−$73.0K −$6.19/SF
NOI
$170.4K $14.44/SF
Area
New Haven, CT
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,407,740
Cap Rate 7%
$2,434,100
Cap Rate 9%
$1,893,189
Alternative Uses
Best Use
Specialty Retail
$2.77M
$2.42M – $3.23M
NOI $193,709 @ 7.0% cap · market cap 10.25%
Second Best
Retail
$2.43M
$2.13M – $2.84M
NOI $170,387 @ 7.0% cap · market cap 9.02%
Theoretical Best
Office A
$3.80M
$3.32M – $4.43M
NOI $265,704 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,465
Businesses Nearby
55k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 57%
Dining 35%
Hotels & Casinos 8%
Dunkin' Donuts
Dining
14,081 visits/mo
0.4 miles
Exxon
Shops & Services
9,177 visits/mo
0.2 miles
TD Bank
Shops & Services
7,093 visits/mo
0.1 miles
Citgo
Shops & Services
7,025 visits/mo
0.1 miles
Domino's Pizza
Dining
5,449 visits/mo
0.5 miles
Demographics for 06518, CT
19,528
Population
7,285
Households
2.7
Avg Household Size
34
Median Age
50%
College-Educated
96%
High-School Grad
16.5 sq mi
ZIP Area
1,184
Density / Sq Mi
$105,227
Median Household Income
$33,932
Median Earnings
$2,044
Median Rent
$307,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- hamden pharmacy — 2348 Whitney Ave, Hamden, CT 06518
- Walgreens Pharmacy — 2505 Whitney Ave, Hamden, CT 06518
- Lisa Tyler — 2505 Whitney Ave, Hamden, CT 065183019
- Jennifer Oziol — 2505 Whitney Ave, Hamden, CT 065183019
- Jeanine Depasquale — 2505 Whitney Ave, Hamden, CT 065183019
Frequently Asked Questions
What type of property is this?
Drug store - T5-zoned commercial property with public water and sewer at the corner of Dixwell Avenue and Whitney Avenue.
Where is this drug store located?
The property is located at 2348 Whitney Avenue Hamden, CT.
What is the asking price?
The asking price for this property is $1,890,000.
What are key features of this property?
This property features: 11,800 square feet on a 0.99‑acre parcel; Two‑story building constructed in 1940; T5 zoning designation
