Corner Restaurant
For Sale
Contact for pricing
259 Orange Street, 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 Market59
Property Features for 259 Orange Street
General Information
Standard status
Active
Size
1,183 SF
Class
B
Property subtype
Retail
Zoning
BD
Building Details
Year Built
1875
Listing Agency:
The Proto Group
Listed By:
Steve Patten · License #CT REB.0756643
(203) 530-3925
Source:
Crexi
Added: Aug 19
Changed: Oct 14
Last Checked: Oct 16 at 7:24AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$19,420
Cap Rate
7.06%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
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 Street 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
