Versatile Mixed-Use Property on Route
For Sale
$750,000
Pending
703 Boston Post Road, West Haven, CT 06516
High-visibility commercial property with retail, office, and warehouse potential.
Property Size4,848 SF
Lot Size0.27 Acres
Days on Market216
Property Features for 703 Boston Post Road
General Information
Standard status
Pending
Size
4,848 SF
Lot size
0.27 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,249
Amenities
Central air
Central Air Cooling
Concrete Flooring
Doors - under 10 ft
Hot Air Heating
Level Lot
Parking Lot
Paved
Tar/Gravel Roof
Building Details
Year Built
1945
Listing Agency:
Richard Morse Real Estate, LLC
(203) 435-4215
Listed By:
RICHARD MORSE
Source:
Corcoran
Added: Jan 8
Changed: Aug 8
Last Checked: Aug 8 at 6:06AM
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 Richard Morse Real Estate, LLC
Investment Insights
Based on property information with market context.
This mixed-use property on Boston Post Road (US Route 1), also known as Orange Avenue, is located in an RB zone that permits a mix of commercial and residential uses. The property features 101 feet of frontage on a busy section of US Route 1, near the University of New Haven campus. Large plate glass windows provide visibility for businesses. The location benefits from a traffic count of approximately 20,000 cars per day. The building offers almost 5000 square feet of space, with roughly half of the area equipped with heat and air conditioning. The remaining space is unheated and includes an overhead door and loading ramp. The finished side contains two half baths. A video surveillance system is in place. There are two parking lots with a total of 10 parking spots. The property has city water and sewer access. The possibilities for use are endless. The parcel located behind this property may be available for sale as well.
Key Highlights
- High‑traffic location on Boston Post Rd (US Rt 1) with 20,000 cars per day, offering exceptional visibility.
- Versatile RB zoning allows for retail, office, warehouse, or mixed commercial/residential use.
- Rare city sewer access, a significant advantage over most properties in the area.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$66,902
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,338,040
$1.3M
Cap Rate 7%
$955,743
$955.7K
Cap Rate 9%
$743,356
$743.4K
Market Conditions
NOI Build-Up for 4,848 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$116.4K $24.00/SF
− Vacancy
−$9.3K −$1.92/SF
EGI
$107.0K $22.08/SF
− OpEx
−$40.1K −$8.28/SF
NOI
$66.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,338,040
Cap Rate 7%
$955,743
Cap Rate 9%
$743,356
Alternative Uses
Best Use
Office B
$1.05M
$919.1K – $1.23M
NOI $73,529 @ 7.0% cap · market cap 9.80%
Second Best
Retail
$1.00M
$875.0K – $1.17M
NOI $70,003 @ 7.0% cap · market cap 9.33%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,164 @ 7.0% cap · market cap 14.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
499
Businesses Nearby
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - High-visibility commercial property with retail, office, and warehouse potential.
Where is this mixed-use property located?
The property is located at 703 Boston Post Road West Haven, CT.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: High‑traffic location on Boston Post Rd (US Rt 1) with 20,000 cars per day, offering exceptional visibility.; Versatile RB zoning allows for retail, office, warehouse, or mixed commercial/residential use.; Rare city sewer access, a significant advantage over most properties in the area.
