Corner Mixed-Use
New
For Sale
$2,900,000
809 Chapel St, New Haven, CT 06510
Vacant building offers apartment and ground-floor retail components for restoration.
Property Size13,169 SF
Price / SF$220.21
Days on Market5
Property Features for 809 Chapel St
General Information
Standard status
Active
Size
13,169 SF
Property subtype
Commercial
Additional Details
Corner Location
Yes
Multifamily Units
11
Building Details
Year Built
1915
Stories
3
Tenancy
Multi
Listing Agency:
Baldwin Pearson & Co., Inc
Listed By:
Daniel Shawah (203) 521-6348 (203) 335-5117 · License #RES.0829215
(203) 335-5117
Source:
Sunsetcreekrealty
Added: Aug 30
Changed: Sep 1
Last Checked: Sep 2 at 6:27PM
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 Baldwin Pearson & Co., Inc
Investment Insights
Based on property information with market context.
Built in 1915, this corner building combines residential and retail components within a mixed-use layout. The second and third floors are configured for 11 apartments, while the ground level contains two retail units. The property is fully vacant and requires restoration before the planned configuration can be completed.
The building is located at 809 Chapel Street in downtown New Haven and carries BD1 zoning. Its upper-floor apartment arrangement and street-level retail layout provide a defined framework for a future mixed-use redevelopment.
The building is located at 809 Chapel Street in downtown New Haven and carries BD1 zoning. Its upper-floor apartment arrangement and street-level retail layout provide a defined framework for a future mixed-use redevelopment.
Key Highlights
- Corner property at 809 Chapel Street in downtown New Haven
- Second and third floors configured as 11 apartments
- Two ground‑floor retail units
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
$206,262
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
7.11%
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%
$4,125,240
$4.1M
Cap Rate 7%
$2,946,600
$2.9M
Cap Rate 9%
$2,291,800
$2.3M
Market Conditions
NOI Build-Up for 13,169 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
$399.8K $30.36/SF
− Vacancy
−$24.8K −$1.88/SF
EGI
$375.0K $28.48/SF
− OpEx
−$168.8K −$12.81/SF
NOI
$206.3K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$4,125,240
Cap Rate 7%
$2,946,600
Cap Rate 9%
$2,291,800
Alternative Uses
Best Use
Apartment 5plus
$2.95M
$2.58M – $3.44M
NOI $206,262 @ 7.0% cap · market cap 7.11%
Second Best
Retail
$2.72M
$2.38M – $3.17M
NOI $190,155 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$4.24M
$3.71M – $4.94M
NOI $296,530 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
6,404
Businesses Nearby
Explore this area
Business Placement
Demographics for 06510, CT
4,409
Population
2,953
Households
1.5
Avg Household Size
29
Median Age
82%
College-Educated
96%
High-School Grad
0.3 sq mi
ZIP Area
14,697
Density / Sq Mi
$63,598
Median Household Income
$55,591
Median Earnings
$1,908
Median Rent
$495,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Vacant building offers apartment and ground-floor retail components for restoration.
Where is this mixed-use property located?
The property is located at 809 Chapel St New Haven, CT.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: Corner property at 809 Chapel Street in downtown New Haven; Second and third floors configured as 11 apartments; Two ground‑floor retail units
