Corner Restaurant
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259 Orange St, New Haven, CT 06510
Former restaurant space positioned at a downtown intersection with access from two named streets.
Property Size1,183 SF
Price / SF$232.46
Days on Market7
Property Features for 259 Orange St
General Information
Standard status
Active
Size
1,183 SF
Listing Agency:
The Proto Group LLC
(203) 530-3925
Listed By:
Steve Patten · License #REB.0756643
(203) 530-3925
Source:
Moodyscre
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 31 at 6:08PM
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 The Proto Group LLC
Investment Insights
Based on property information with market context.
The property comprises 1,183 square feet of former restaurant space. Its corner position places the building at Orange Street and Elm Street in downtown New Haven, Connecticut.
Key Highlights
- 1,183‑square‑foot former restaurant property
- Corner location at Orange St and Elm St
- Situated in downtown New Haven
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
$19,420
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
7.06%
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%
$388,400
$388.4K
Cap Rate 7%
$277,429
$277.4K
Cap Rate 9%
$215,778
$215.8K
Market Conditions
NOI Build-Up for 1,183 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
$27.0K $22.80/SF
− Vacancy
−$1.1K −$0.91/SF
EGI
$25.9K $21.89/SF
− OpEx
−$6.5K −$5.47/SF
NOI
$19.4K $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 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%
$388,400
Cap Rate 7%
$277,429
Cap Rate 9%
$215,778
Alternative Uses
Best Use
Specialty Retail
$277.4K
$242.8K – $323.7K
NOI $19,420 @ 7.0% cap · market cap 7.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$380.5K
$333.0K – $444.0K
NOI $26,638 @ 7.0% cap · market cap 9.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6,548
Businesses Nearby
80k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Electronics 40%
Dining 30%
Apparel 17%
Shops & Services 11%
Apple Store
Electronics
32,282 visits/mo
0.5 miles
Olive's
Dining
11,610 visits/mo
0.3 miles
Urban Outfitters
Apparel
6,594 visits/mo
0.5 miles
Shake Shack
Dining
6,311 visits/mo
0.3 miles
J.Crew
Apparel
4,599 visits/mo
0.4 miles
Demographics for 06510, CT
4,409
Population
2,953
Households
1.5
Avg Household Size
29
Median Age
82%
College-Educated
96%
High-School Grad
0.3 sq mi
ZIP Area
14,697
Density / Sq Mi
$63,598
Median Household Income
$55,591
Median Earnings
$1,908
Median Rent
$495,500
Median Home Value
Market
Vacancy Rate% for Retail in New Haven, CT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Former restaurant space positioned at a downtown intersection with access from two named streets.
Where is this conventional restaurant located?
The property is located at 259 Orange St New Haven, CT.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,183‑square‑foot former restaurant property; Corner location at Orange St and Elm St; Situated in downtown New Haven
