Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    66 Hemingway Ave East Haven, CT 6512

    View on Map
    Claim this Listing
    New
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,200,000

    Two well-maintained buildings with immediate cash flow and growth potential.

    Type:Multi Family
    Added:
    Apr 22, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 22 at 2:12 am

    Property Features for 66 Hemingway Ave

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1905

    We can help!

    Listing Contact
    Nidia Y. Angeles

    Listing agent Nidia Y. Angeles

    Listing office eXp Realty

    Listing date Apr 22, 2026

    Source Elliman

    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 eXp Realty

    Overview

    Two Buildings on Hemingway Avenue

    This exceptional investment opportunity features two fully occupied buildings located at 66 & 70 Hemingway Avenue. The properties are situated on a generously sized lot and offer immediate cash flow with long-term growth potential. Both buildings are well-maintained and in great condition, with recent upgrades including newer roofs. Each building also features an additional finished basement, providing extra usable space and added value. 66 Hemingway Avenue includes a commercial space on the first floor currently operating as a restaurant. The sale includes real estate only. The business, along with all restaurant equipment, kitchen appliances, and related items, is not included in the sale. The bike score is 50, indicating bikeable conditions. The walk score is 78, indicating very walkable conditions. The transit score is 32, indicating some transit options.
    Location Intelligence

    Current Use by Public Records

    Mixed-use properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    East Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8723524
    Latitude
    41.2688216

    Nearby Similar for Sale

    • $250,000
      1,150 SF

      East Haven Office Space For Sale

      Office space in East Haven, leased until May 2026.
      64 Thompson Street, East Haven, CT 06513
      View Details
    • $489,000
      2,004 SF

      East Haven Multifamily Investment Opportunity

      Well-maintained three-family property near Town Green and Main Street.
      429 Thompson Avenue, East Haven, CT 06512
      View Details
    • $649,900
      5,312 SF

      High-Visibility Multi-Tenant Asset

      Prime commercial real estate with exceptional ROI potential.
      274 Hemingway Avenue, East Haven, CT 06512
      View Details
    • $750,000

      Restaurant and Bar Business Opportunity

      Profitable restaurant and bar with real estate included for sale.
      672 Main Street, East Haven, CT 06512
      View Details
    • $750,000

      Profitable Restaurant and Bar Investment

      Established restaurant and bar generating immediate income with real estate.
      672 Main St, East Haven, CT 06512
      View Details
    • $1,650,000
      2,139 SF

      East Haven Commercial Corner Property

      Commercial building on Main Street, East Haven, suitable for gas/auto.
      356 Main Street, East Haven, CT 06512
      View Details
    • $489,000

      Thompson Avenue Triplex Investment Opportunity

      Well-maintained triplex near Town Green and Main Street.
      429 Thompson Ave, East Haven, CT 06512
      View Details
    • $489,000
      2,004 SF

      Well-Maintained Triplex Near Town Green

      Three-family property near Town Green with high-end mechanical upgrades.
      429 Thompson Avenue, East Haven, CT 06512
      View Details
    • $250,000
      1,150 SF

      East Haven Office Space Available

      Office space for sale, ideal for medical or professional services.
      64 Thompson Street #B102, East Haven, CT 06513
      View Details
    • $645,000
      7,380 SF

      Warehouse Convertible to Self-Storage

      7,380 SF warehouse, easily accessible, convertible to self-storage.
      5 Old Bradley St, East Haven, CT
      View Details
    • $2,350,000
      11,240 SF

      Retail Building with Drive-Thru

      11,240 SF retail building with drive-thru on 1.28 acres.
      10 Hemingway Ave, East Haven, CT
      View Details
    • $225,000
      2,250 SF

      Turn-Key Diner For Sale

      Established diner with high visibility and growth potential.
      697 Foxon Road, East Haven, CT 06513
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Two well-maintained buildings with immediate cash flow and growth potential.
    Where is this mixed-use property located?
    The property is located at 66 Hemingway Ave East Haven, CT.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Immediate cash flow from two fully occupied buildings.; Generously sized lot with long‑term growth potential.; Well‑maintained properties in great condition.
    (203) 564-0389
    We can help!
    Listing Contact
    Nidia Y. Angeles
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!