Mixed-Use Property with Rental
578 Winchester Avenue, New Haven, CT 06511
For Sale
$599,900
Storefront with multi-unit apartments and licenses included.
Property Size3,980 SF
Lot Size0.08 Acres
Price / SF$150.73
Days on Market1074
Property Features for 578 Winchester Avenue
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Taxes and HOA fees
Annual Taxes
Amenities
Asphalt Shingle Roof
Concrete Flooring
Dry
Gas on Gas Heating
Level Lot
Building Details
Year Built
Listing Agency:
Coldwell Banker Realty
(203) 888-1845
Listed By:
MARILYN PROFIT · License #0821598
(203) 526-4152
Source:
Corcoran
Added: Dec 2, 2023
Changed: Aug 25
Last Checked: Aug 14 at 6:02AM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This mixed-use property presents an opportunity for investors. It features a storefront and three rental apartments, including two 1-bedroom units and one 3-bedroom unit. The listing price encompasses the existing inventory of liquor, beer, soda, juice, and cigarettes, as well as the liquor and lottery licenses. The property is located in New Haven, CT and has a size of 3,980 square feet. This property can be utilized for multiple functions.
Key Highlights
- Includes liquor and lottery licenses.
- Includes liquor, beer, soda, juice, and cigarettes inventories.
- Store front with 3 rental apartments: (2) 1‑bedroom and (1) 3‑bedroom.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,924
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,480
$1.1M
Cap Rate 7%
$784,629
$784.6K
Cap Rate 9%
$610,267
$610.3K
Market Conditions
NOI Build-Up for 3,980 SF
Gross rent
$95.5K $24.00/SF
− Vacancy
−$7.6K −$1.92/SF
EGI
$87.9K $22.08/SF
− OpEx
−$33.0K −$8.28/SF
NOI
$54.9K $13.80/SF
Area
New Haven, CT
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,480
Cap Rate 7%
$784,629
Cap Rate 9%
$610,267
Alternative Uses
Best Use
Retail
$821.0K
$718.4K – $957.8K
NOI $57,470 @ 7.0% cap · market cap 9.58%
Second Best
Mixed Use
$784.6K
$686.6K – $915.4K
NOI $54,924 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,619 @ 7.0% cap · market cap 14.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
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Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in New Haven, CT
Properties on Market for Mixed-use properties in New Haven
Vacancy Rate% for Retail in New Haven, CT
Frequently Asked Questions
What type of property is this?
Mixed-use property - Storefront with multi-unit apartments and licenses included.
Where is this mixed-use property located?
The property is located at 578 Winchester Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Includes liquor and lottery licenses.; Includes liquor, beer, soda, juice, and cigarettes inventories.; Store front with 3 rental apartments: **(2) 1‑bedroom and (1) 3‑bedroom.**
