Multi-Level Storefront
For Sale
$699,000
827 Chapel Street, New Haven, CT 06510
The building offers main-level and lower-level areas for a range of commercial concepts.
Property Size4,296 SF
Price / SF$162.71
Days on Market514
Property Features for 827 Chapel Street
General Information
Standard status
Active
Size
4,296 SF
Property subtype
General Commercial
Amenities
3
BD
Building Details
Year Built
1900
Buildings
1
Listing Agency:
eXp Realty
(203) 300-1358
Listed By:
Julie Conner · License #REB.0792605
(203) 300-1358
Source:
Xome
Added: Apr 5, 2025
Changed: Aug 31
Last Checked: Aug 31 at 12:13AM
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 eXp Realty
Investment Insights
Based on property information with market context.
This storefront property includes a main level plus an additional lower level, creating a multi-level commercial layout. Built in 1900, the building previously operated as Beauty Plus for 30 years and is now available for a new retail or commercial concept. Potential uses identified for the space include a cafe, restaurant, apartment, or retail operation.
The property is located on Chapel Street in New Haven, near Yale University. The surrounding area is described as high traffic and undergoing significant development, placing the building within an active urban commercial setting. Its established retail history and two-level configuration provide a clear foundation for future planning.
The property is located on Chapel Street in New Haven, near Yale University. The surrounding area is described as high traffic and undergoing significant development, placing the building within an active urban commercial setting. Its established retail history and two-level configuration provide a clear foundation for future planning.
Key Highlights
- Main‑level and lower‑level commercial areas
- Built in 1900
- Previously occupied by Beauty Plus for 30 years
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
$62,033
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
8.87%
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%
$1,240,660
$1.2M
Cap Rate 7%
$886,186
$886.2K
Cap Rate 9%
$689,256
$689.3K
Market Conditions
NOI Build-Up for 4,296 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
$92.8K $21.60/SF
− Vacancy
−$4.2K −$0.97/SF
EGI
$88.6K $20.63/SF
− OpEx
−$26.6K −$6.19/SF
NOI
$62.0K $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%
$1,240,660
Cap Rate 7%
$886,186
Cap Rate 9%
$689,256
Alternative Uses
Best Use
Retail
$886.2K
$775.4K – $1.03M
NOI $62,033 @ 7.0% cap · market cap 8.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,734 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,404
Businesses Nearby
33k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 73%
Shops & Services 21%
Apparel 7%
Olive's
Dining
11,610 visits/mo
0.2 miles
Shake Shack
Dining
6,311 visits/mo
0.3 miles
Dunkin' Donuts
Dining
2,883 visits/mo
0.1 miles
Firestone Complete Auto Care
Shops & Services
2,356 visits/mo
0.1 miles
Citizens Bank
Shops & Services
2,302 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - The building offers main-level and lower-level areas for a range of commercial concepts.
Where is this storefront property located?
The property is located at 827 Chapel Street New Haven, CT.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Main‑level and lower‑level commercial areas; Built in 1900; Previously occupied by Beauty Plus for 30 years
