Triplex Property
New
For Sale
$467,500
246 Front, West Haven, CT 06516
Two adjoining multifamily properties are offered together near transit, shopping, and everyday services.
Property Size2,201 SF
Price / SF$212.40
Days on Market6
Property Features for 246 Front
General Information
Standard status
Active
Size
2,201 SF
Property subtype
3 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Five Stars Realty
(860) 560-1500
Listed By:
Karina Guissela Naranjo Echeverria · License #RES.0837043
Source:
Lockandkeyre
Added: Oct 8
Changed: Oct 11
Last Checked: Oct 12 at 8:26PM
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 Five Stars Realty
Investment Insights
Based on property information with market context.
The offering combines two neighboring multifamily properties at 242 Front Avenue and 246 Front Avenue in West Haven. The property record identifies 2,201 square feet and a 1900 construction date for the 246 Front Avenue address.
Nearby destinations include shopping, restaurants, schools, parks, and the shoreline. The properties have access to I-95, Route 1, public transportation, downtown New Haven, and the West Haven train station.
Nearby destinations include shopping, restaurants, schools, parks, and the shoreline. The properties have access to I-95, Route 1, public transportation, downtown New Haven, and the West Haven train station.
Key Highlights
- Two neighboring multifamily properties offered together at 242 Front Avenue and 246 Front Avenue
- 246 Front Avenue record identifies 2,201 square feet and a 1900 construction date
- Access to I‑95, Route 1, downtown New Haven, public transportation, and West Haven train station
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,047
Cap Rate
7.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,940
$740.9K
Cap Rate 7%
$529,243
$529.2K
Cap Rate 9%
$411,633
$411.6K
Market Conditions
NOI Build-Up for 2,201 SF
Gross rent
$56.8K $25.80/SF
− Vacancy
−$3.9K −$1.75/SF
EGI
$52.9K $24.05/SF
− OpEx
−$15.9K −$7.21/SF
NOI
$37.0K $16.83/SF
Area
New Haven, CT
Vacancy
6.80%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,940
Cap Rate 7%
$529,243
Cap Rate 9%
$411,633
Alternative Uses
Best Use
Multifamily LT 5
$529.2K
$463.1K – $617.5K
NOI $37,047 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$492.5K
$430.9K – $574.6K
NOI $34,474 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$708.0K
$619.5K – $826.0K
NOI $49,561 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
734
Businesses Nearby
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
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 Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Two adjoining multifamily properties are offered together near transit, shopping, and everyday services.
Where is this triplex located?
The property is located at 246 Front West Haven, CT.
What is the asking price?
The asking price for this property is $467,500.
What are key features of this property?
This property features: Two neighboring multifamily properties offered together at 242 Front Avenue and 246 Front Avenue; 246 Front Avenue record identifies 2,201 square feet and a 1900 construction date; Access to I‑95, Route 1, downtown New Haven, public transportation, and West Haven train station
