Downtown New Haven Retail
For Sale
Contact for pricing
Pending
81-89 Church Street, New Haven, CT 06510
High-profile retail asset in downtown New Haven with stable income.
Property Size5,700 SF
Days on Market157
Property Features for 81-89 Church Street
General Information
Standard status
Pending
Size
5,700 SF
Property subtype
Retail
Net Operating Income
$139,410
Listing Agency:
Febbraio Commercial
(203) 522-2635
Listed By:
Christopher Lara · License #RES.0816126
Source:
Crexi
Added: Mar 20
Changed: Aug 14
Last Checked: Aug 22 at 2:46PM
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 Febbraio Commercial
Investment Insights
Based on property information with market context.
The property at 81-89 Church Street offers an opportunity to acquire a street-level retail asset in downtown New Haven. Anchored by Dunkin', a corner tenant with nearly 20 years of continuous operation, the property benefits from consistent daily traffic and visibility. The remaining tenancy includes national and regional operators, such as Total Wireless and Moka & Co (formerly Dr. Dental), a cafe concept currently completing a full build-out. The rent roll is supported by established operators and long-term lease structures, providing predictable in-place income. Positioned in a supply-constrained, institutionally driven market anchored by Yale University and a rapidly expanding life sciences sector, the asset offers stable cash flow with long-term growth drivers. The property size is 5700 square feet.
Key Highlights
- High‑profile, street‑level retail asset in downtown New Haven.
- Anchored by Dunkin' with nearly 20 years of continuous operation.
- Mix of national and regional tenants including Total Wireless and Moka & Co.
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
$82,306
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
3.83%
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%
$1,646,120
$1.6M
Cap Rate 7%
$1,175,800
$1.2M
Cap Rate 9%
$914,511
$914.5K
Market Conditions
NOI Build-Up for 5,700 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
$123.1K $21.60/SF
− Vacancy
−$5.5K −$0.97/SF
EGI
$117.6K $20.63/SF
− OpEx
−$35.3K −$6.19/SF
NOI
$82.3K $14.44/SF
Area
New Haven, CT
Vacancy
4.50%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,646,120
Cap Rate 7%
$1,175,800
Cap Rate 9%
$914,511
Alternative Uses
Best Use
Retail
$1.18M
$1.03M – $1.37M
NOI $82,306 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,348 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,561
Businesses Nearby
84k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Apparel 16%
Shops & Services 11%
Beauty & Spa 2%
Dunkin' Donuts
Dining
27,953 visits/mo
0.4 miles
Olive's
Dining
11,610 visits/mo
0.1 miles
SUBWAY
Dining
7,612 visits/mo
0.4 miles
Urban Outfitters
Apparel
6,594 visits/mo
0.5 miles
Shake Shack
Dining
6,311 visits/mo
0.2 miles
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 Retail in New Haven, CT
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - High-profile retail asset in downtown New Haven with stable income.
Where is this retail space located?
The property is located at 81-89 Church Street New Haven, CT.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: High‑profile, street‑level retail asset in downtown New Haven.; Anchored by Dunkin' with nearly 20 years of continuous operation.; Mix of national and regional tenants including Total Wireless and Moka & Co.
