Versatile Mixed-Use Commercial
703 Boston Post Rd West Haven, CT 06516
For Sale
$750,000
Retail, office, or warehouse space on busy Route 1.
Property Size5,000 SF
Price / SF$150
Days on Market95
Property Features for 703 Boston Post Rd
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1945
Listing Agency:
Richard Morse Real Estate, LLC
(203) 435-4215
Listed By:
Richard A. Morse
(203) 435-4215
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 27 at 3:06AM
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 commercial property is located on Boston Post Road (US Route 1), also known as Orange Avenue, in an RB zone that permits a wide range of uses, including a mix of commercial and residential. The property features 101 feet of frontage on a busy section of US Route 1, near the edge of the University of New Haven campus. Large plate glass windows provide visibility for businesses. Traffic counts in the area are approximately 20,000 cars per day. The building offers almost 5,000 square feet of space, with roughly half of it heated and air-conditioned. The remaining half is unheated space with an overhead door and loading ramp. The finished side includes 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 property is somewhat walkable (walk score 69), somewhat bikeable (bike score 38) and has some transit options (transit score 37).
Key Highlights
- High‑traffic location on Boston Post Rd (US Rt 1) with 20,000 cars per day.
- Rare sewer access, unlike most of Boston Post Rd.
- Versatile RB zoning allows for retail, office, warehouse, or mixed‑use commercial/residential.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $120.0k | $24.00 |
| − Vacancy | −$9.6k | −$1.92 |
| EGI | $110.4k | $22.08 |
| − OpEx | −$41.4k | −$8.28 |
| NOI | $69.0k | $13.80 |
5,000 SF · lease $24.00/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Office B
$1.08M
$947.9K – $1.26M
NOI $75,834 @ 7.0% cap · market cap 10.11%
Second Best
Retail
$1.03M
$902.5K – $1.20M
NOI $72,198 @ 7.0% cap · market cap 9.63%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,586 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Mixed-use property - Retail, office, or warehouse space on busy Route 1.
Where is this mixed-use property located?
The property is located at 703 Boston Post Rd 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.; Rare sewer access, unlike most of Boston Post Rd.; Versatile RB zoning allows for retail, office, warehouse, or mixed‑use commercial/residential.
