Mixed-Use Property in New
For Sale
$974,000
796-798 George, New Haven, CT 06511
Established mixed-use property with immediate income potential in New Haven.
Property Size1,910 SF
Days on Market191
Property Features for 796-798 George
General Information
Standard status
Active
Size
1,910 SF
Property subtype
Commercial
Lease Term
Listing ID: 24166873, Standard Status: Active, MLS Status: Active, 107 days on market
Building Details
Building Size
1,910 SF
Year Built
1910
Listing Agency:
Houlihan Lawrence WD
(203) 701-4848
Listed By:
Frank D'Ostilio · License #REB.0789479
(203) 641-7072
Source:
Iverty
Added: Apr 13
Changed: Oct 20
Last Checked: Oct 19 at 11:07AM
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 Houlihan Lawrence WD
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Investment Insights
Based on property information with market context.
The property at 796-798 George Street in New Haven, CT, offers a mixed-use opportunity. The street level features a pizzeria and a grocery store. There are also two residential apartments. The current rental income is $2,400 per month for the grocery store, $2,750 per month for the pizzeria, $1,600 per month for Apartment 1, and $1,750 per month for Apartment 2. This property may be suitable for owner-operators or investors seeking a turnkey business with existing cash flow.
Key Highlights
- Established mixed‑use property in the heart of New Haven
- Turnkey business with built‑in cash flow from existing tenants
- Immediate income potential from pizzeria, grocery store, and two apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,355
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,100
$627.1K
Cap Rate 7%
$447,929
$447.9K
Cap Rate 9%
$348,389
$348.4K
Market Conditions
NOI Build-Up for 1,910 SF
Gross rent
$43.5K $22.80/SF
− Vacancy
−$1.7K −$0.91/SF
EGI
$41.8K $21.89/SF
− OpEx
−$10.5K −$5.47/SF
NOI
$31.4K $16.42/SF
Area
New Haven, CT
Vacancy
4.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,100
Cap Rate 7%
$447,929
Cap Rate 9%
$348,389
Alternative Uses
Best Use
Specialty Retail
$447.9K
$391.9K – $522.6K
NOI $31,355 @ 7.0% cap · market cap 3.22%
Second Best
Retail
$394.0K
$344.8K – $459.7K
NOI $27,580 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$614.4K
$537.6K – $716.8K
NOI $43,008 @ 7.0% cap · market cap 4.42%
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
1,607
Businesses Nearby
Explore this area
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
Vacancy Rate% for Retail in New Haven, CT
Frequently Asked Questions
What type of property is this?
Mixed-use property - Established mixed-use property with immediate income potential in New Haven.
Where is this mixed-use property located?
The property is located at 796-798 George New Haven, CT.
What is the asking price?
The asking price for this property is $974,000.
What are key features of this property?
This property features: Established mixed‑use property in the heart of New Haven; Turnkey business with built‑in cash flow from existing tenants; Immediate income potential from pizzeria, grocery store, and two apartments
