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    Remodeled Retail/Flex Space Available Title is generated by Realmo AI

    630 Washington Avenue, North Haven, CT 06473

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    Claim this Listing
    For Lease
    $20 SF/Yr $2,835/Mo (calc)

    COMMERCIAL - North Haven, CT

    Property size:
    1,701 SF
    Lot size:
    1.38 Acres
    Added:
    Apr 28, 2026
    Days on Market:
    17
    Last Refresh:
    May 14 at 7:06 am

    Property Features for 630 Washington Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    CB40
    Interior features
    Public Restrooms,Window Display
    Exterior features
    Gutters,Lighting,Door Sign
    Standard status
    Active
    Size
    1,701 SF
    Lot size
    1.38 Acres

    Utilities

    Sewer type
    Public Sewer
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1981

    We can help!

    Listing Contact
    Lorrie Maiorano

    Listing agent Lorrie Maiorano

    Listing office Calcagni Real Estate 25 Boston Street, Cheshire, CT

    Listing date Apr 28, 2026

    MLS# 24170246

    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.

    HighLights

    • High‑traffic location (15,000+\/- daily count) with access from Rt. 5 and Scrub Oak Rd.
    • Suitable for restaurant, retail, or flex space.
    • Recently remodeled 1700+\/- SF space.
    • Additional 1701 SF lower level for storage/offices.
    • Previously used as a restaurant with ADA‑compliant bathroom.
    • Owner will consider dividing into 2 spaces.

    Overview

    This commercial property offers a vibrant opportunity for business owners seeking restaurant, retail, or flex space. The location benefits from a robust daytime population and an abundant consumer base, making it a prime spot for businesses aiming to tap into a market with a steady influx of potential customers. The property features 1700 square feet of recently remodeled space, with an additional 1701 square feet in the lower level suitable for storage or offices. Previously used as a restaurant, the space includes an ADA-compliant bathroom. Ample parking is available. The property experiences a daily traffic count of approximately 15,000 vehicles and has access from Route 5 and Scrub Oak Road. The owner will consider dividing the space into two separate units. The lot size is 1.38 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Meadowstone Motel Hotel & Motel Barnes Flowers (Bike/Boat/Book/etc) Store La Frontera Mexican ... Restaurant Rancho Viejo Western ... (Bike/Boat/Book/etc) Store Barnes House Of Flowers (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    North Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8388463
    Latitude
    41.4225075

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    FAQs

    What type of property is this?
    Retail space - Recently remodeled space suitable for restaurant, retail, or flex use.
    Where is this retail space located?
    The property is located at 630 Washington Avenue North Haven, CT.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location (15,000+\/- daily count) with access from Rt. 5 and Scrub Oak Rd.; Suitable for restaurant, retail, or flex space.; Recently remodeled 1700+\/- SF space.
    (203) 915-3217
    We can help!
    Listing Contact
    Lorrie Maiorano
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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