Mixed-Use Building with
For Sale
$13,800,000
414 Mather Street, Hamden, CT 06514
Commercial For Sale, Hamden, CT
Property Size45,552 SF
Lot Size1.57 Acres
Price / SF$302.95
Days on Market68
Property Features for 414 Mather Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
T-5
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1
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
2027
Tax Annual Amount
323232
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
4
Listing Agency:
Serhant Connecticut, LLC
(203) 489-7800
Listed By:
Carmen Desiato · License #0829879
(203) 545-9966
Added: Jul 30
Changed: Oct 5
Last Checked: Oct 5 at 2:06PM
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.
Completed in 2024, this mixed-use property contains 45,552 square feet on a 1.57-acre parcel. Its residential component comprises 37 apartments, alongside two retail spaces. Apartment layouts include one-bedroom, one-bathroom homes and two-bedroom options with one or two bathrooms. Features include nine-foot ceilings, wide-plank flooring, recessed lighting, and a private patio or balcony in each residence. Kitchens have quartz counters, breakfast bars, stainless steel appliances, and custom cabinetry; each home also has a stackable washer and dryer. The building includes an elevator and fire suppression system, with heat pump heating and central air conditioning.
The property is zoned T-5 and has nearly 70% occupancy. A 6% cap rate is projected. The location is near the Merritt Parkway, Hamden Plaza, shopping, dining, and the Farmington Canal Heritage Trail. Public water and sewer serve the property.
The property is zoned T-5 and has nearly 70% occupancy. A 6% cap rate is projected. The location is near the Merritt Parkway, Hamden Plaza, shopping, dining, and the Farmington Canal Heritage Trail. Public water and sewer serve the property.
Key Highlights
- 37 residential units and 2 retail spaces
- 45,552 square feet on 1.57 acres
- Built in 2024; nearly 70% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$713,468
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,269,360
$14.3M
Cap Rate 7%
$10,192,400
$10.2M
Cap Rate 9%
$7,927,422
$7.9M
Market Conditions
NOI Build-Up for 45,552 SF
Gross rent
$1.38M $30.36/SF
− Vacancy
−$85.7K −$1.88/SF
EGI
$1.30M $28.48/SF
− OpEx
−$583.7K −$12.81/SF
NOI
$713.5K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,269,360
Cap Rate 7%
$10,192,400
Cap Rate 9%
$7,927,422
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
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Current Use
Lease Details
37
Residential units
Multi-tenant
Tenancy
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
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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?
Mixed-use property - The 2024 property combines 37 residences with two retail spaces and a varied apartment mix.
Where is this mixed-use property 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: 37 residential units and 2 retail spaces; 45,552 square feet on 1.57 acres; Built in 2024; nearly 70% occupied
