Apartment Building with On-Site
New
For Sale
$13,800,000
414 Mather Street, Hamden, CT 06514
COMMERCIAL - Hamden, CT
Property Size45,552 SF
Lot Size1.57 Acres
Price / SF$302.95
Days on Market2
Property Features for 414 Mather Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
T-5
Interior features
Elevator,Fire Suppression System,Living Space Available
Exterior features
Sidewalk,Lighting,Underground Sprinkler
Accessibility
Accessible Elevator Installed
Lot features
Dry, Level Lot
Directions
GPS friendly.
Subdivision
Spring Glen
Standard status
Active
Size
45,552 SF
Lot size
1.57 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
110313
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Amenities
private patio or balcony
in-unit washer and dryer
Building Details
Year built
2024
Floors in Building
4
Listing Agency:
Serhant Connecticut, LLC
(203) 489-7800
Listed By:
Carmen Desiato
(203) 545-9966
Added: Jul 30
Last Checked: Jul 31 at 12:06AM
MLS# 24195301
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.
Investment Insights
Based on property information with market context.
Built in 2024, this apartment building offers 37 residential units plus two retail spaces as a mixed-use setup. The residential mix includes one-bedroom one-bath units, two-bedroom one-bath units, and two-bedroom two-bath units. Unit interiors feature private patios or balconies, nine-foot ceilings, recessed lighting, and in-unit stackable washer and dryer.
The property includes an accessible elevator, fire suppression system, central air, and heat pump heating. Exterior amenities include sidewalk improvements, lighting, and an underground sprinkler system. Served by public water and public sewer, the property sits on 1.57 acres and is described as nearly 70% occupied.
Location considerations include proximity to the Merritt Parkway, Hamden Plaza, shopping and dining, and the Farmington Canal Heritage Trail, supporting day-to-day convenience for both residents and retail tenants.
The property includes an accessible elevator, fire suppression system, central air, and heat pump heating. Exterior amenities include sidewalk improvements, lighting, and an underground sprinkler system. Served by public water and public sewer, the property sits on 1.57 acres and is described as nearly 70% occupied.
Location considerations include proximity to the Merritt Parkway, Hamden Plaza, shopping and dining, and the Farmington Canal Heritage Trail, supporting day-to-day convenience for both residents and retail tenants.
Key Highlights
- Built in 2024 with accessible elevator and fire suppression system
- 37 residential units with one‑bedroom one‑bath and two‑bedroom configurations
- Two retail spaces for a built‑in mixed‑use component
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.38M | $30.36 |
| − Vacancy | −$85.7k | −$1.88 |
| EGI | $1.30M | $28.48 |
| − OpEx | −$583.7k | −$12.81 |
| NOI | $713.5k | $15.66 |
45,552 SF · lease $30.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$10.19M
$8.92M – $11.89M
NOI $713,468 @ 7.0% cap · market cap 5.17%
Second Best
Retail
$9.40M
$8.22M – $10.96M
NOI $657,753 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$14.65M
$12.82M – $17.10M
NOI $1,025,707 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
37
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Explore this area
Business Placement
Demographics for 06514, CT
26,613
Population
11,388
Households
2.3
Avg Household Size
40
Median Age
42%
College-Educated
92%
High-School Grad
11.1 sq mi
ZIP Area
2,398
Density / Sq Mi
$85,227
Median Household Income
$46,594
Median Earnings
$1,633
Median Rent
$250,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 2024 with 37 residential units and two retail spaces, currently nearly 70% occupied.
Where is this apartment building located?
The property is located at 414 Mather Street Hamden, CT.
What is the asking price?
The asking price for this property is $13,800,000.
What are key features of this property?
This property features: Built in 2024 with accessible elevator and fire suppression system; 37 residential units with one‑bedroom one‑bath and two‑bedroom configurations; Two retail spaces for a built‑in mixed‑use component
