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Westville Jazz-Age Apartment Building

55 Marvel Road, New Haven, CT 06515

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For Sale

$1,800,000

Historic Westville apartment building with development potential.

Type:Commercial

Property size:

10,200 SF

Lot size:

0.35 Acres

Price / SF:

$176/SF

HighLights

Unique jazz‑age apartment building in the heart of Westville.
Grandfathered as‑built in 1926 on a coveted residential block; potentially irreplaceable.
Six vacant units at closing, ready for renovation and re‑rental or condo conversion.
Significant potential for development with over 5000 sq ft of unfinished 3rd‑floor space and 4000 sq ft in the lower level.
Original craftsmanship details including 9' ceilings, hardwood floors, moldings, and balusters.
Currently designated as 11 units with regular LCI inspections.

We can help!

Listing Contact

REBECCA WEINER

For Sale

$1,800,000

Historic Westville apartment building with development potential.

Type:Commercial

Property size:

10,200 SF

Lot size:

0.35 Acres

Price / SF:

$176/SF

Added:: Sep 9, 2025
Days on Market:: 274
Last Refresh:: Apr 5 at 8:29 pm

Property Features for 55 Marvel Road

General Information

Standard status: Active
Size: 10,200 SF
Lot size: 0.35 Acres
Property subtype: Commercial

Building Details

Year Built: 1920

We can help!

Listing Contact

REBECCA WEINER

Listing agent REBECCA WEINER License #RES.0791631

Listing office Betsy Grauer Realty, Inc

Listing date Sep 9, 2025

Source Corcoran

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 Betsy Grauer Realty, Inc

HighLights

Unique jazz‑age apartment building in the heart of Westville.
Grandfathered as‑built in 1926 on a coveted residential block; potentially irreplaceable.
Six vacant units at closing, ready for renovation and re‑rental or condo conversion.
Significant potential for development with over 5000 sq ft of unfinished 3rd‑floor space and 4000 sq ft in the lower level.
Original craftsmanship details including 9' ceilings, hardwood floors, moldings, and balusters.
Currently designated as 11 units with regular LCI inspections.

Overview

This historic apartment building, originally constructed in 1926, is located in the heart of Westville. The property features 9-foot ceilings, hardwood floors, and original moldings and balusters. The building's original design appears to have included 10 apartments plus a superintendent unit. It has been used as 11 units since at least the 1950s and is currently designated as 11 units with regular inspections. However, the Certificate of Occupancy was issued in 1926 for 8 units. The building is situated on a quiet, residential block within an RS2 zone. The property includes a shaded courtyard. Six units will be vacant at closing, while five tenants hope to stay. The unfinished third floor offers over 5000 square feet of potentially developable space, with an additional approximately 4000 square feet in the lower level. The property size is 10200 square feet.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$309.7k	$30.36
− Vacancy	−$19.2k	−$1.88
EGI	$290.5k	$28.48
− OpEx	−$130.7k	−$12.81
NOI	$159.8k	$15.66

10,200 SF · lease $30.36/SF/yr · vacancy 6.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$2.28M

$2.00M – $2.66M (±1% cap)

NOI $159,760 @ 7.0% cap · market cap 8.88%

Second Best

—

no second resolved use

Theoretical Best

Office A

$3.28M

$2.87M – $3.83M (±1% cap)

NOI $229,676 @ 7.0% cap · market cap 12.76%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: New Haven
County: New Haven
State: Connecticut
Longitude: -72.9633
Latitude: 41.3202

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For sale
Apartment buildings
CT
New Haven
06515
55 Marvel Road

What type of property is this?

Apartment building - Historic Westville apartment building with development potential.

Where is this apartment building located?

The property is located at 55 Marvel Road New Haven, CT.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: Unique jazz‑age apartment building in the heart of Westville.; Grandfathered as‑built in 1926 on a coveted residential block; potentially irreplaceable.; Six vacant units at closing, ready for renovation and re‑rental or condo conversion.