Mixed-Use Building with Restaurant
879 Whalley Avenue New Haven, CT 06515
879 Whalley Avenue, New Haven, CT, 06515
$695,000
For Sale
$695,000
Two-story mixed-use building with a ground-level restaurant/bar and a rented two-bedroom apartment above.
Property Size2,714 SF
Price / SF$256.08
Days on Market26
Property Features for 879 Whalley Avenue
General Information
- Standard status
- Active
- Size
- 2,714 SF
- Property subtype
- 2 Family
Building Details
- Year Built
- 1900
Listing agency
Seabury Hill REALTORS
(203) 675-3942
Listed by
John Hill · License #REB.0795121
(203) 675-3942
Source
Lockandkeyre
Added: Jun 26 Updated: Jul 20 at 9:22PM Checked: Jul 21 at 3:13AM
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 Seabury Hill REALTORS
Investment Insights
Based on property information with market context.
This mixed-use property offers ground-floor commercial space and a residential unit on the second floor. The building includes approximately 2,714 square feet across the main and second levels, with an unfinished walk-up attic that provides expansion potential through additional bedrooms and a full bath. The main level is leased to an established restaurant/bar. The second level features a spacious two-bedroom apartment with a five-room layout, including a large carpeted living room, separate dining room, large eat-in kitchen, two bedrooms, and one full bath. The living room may be used as a third bedroom if needed, and the apartment’s staircase provides access to the unfinished attic.
The property has separate utilities (oil and electric) and includes mid-aged boilers and a newer roof. There is also a large rear parking lot accommodating approximately 6–8 cars.
The second-floor apartment is currently rented for $1,550 per month, and the building presents an income-focused ownership opportunity with commercial and residential components under separate utilities.
The property has separate utilities (oil and electric) and includes mid-aged boilers and a newer roof. There is also a large rear parking lot accommodating approximately 6–8 cars.
The second-floor apartment is currently rented for $1,550 per month, and the building presents an income-focused ownership opportunity with commercial and residential components under separate utilities.
Key Highlights
- Two‑story mixed‑use building (built 1900) with ground‑level restaurant/bar and a rented 2‑bedroom apartment above
- Building includes 2,714 SF on the main and second floors, plus an unfinished walk‑up attic with expansion possibilities
- 2‑bedroom apartment features a 5‑room layout with eat‑in kitchen, large carpeted living room, separate dining room, and 1 full bath
Local Financial Insights For Multifamily LT 5
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 | $70.0k | $25.80 |
| − Vacancy | −$4.8k | −$1.75 |
| EGI | $65.3k | $24.05 |
| − OpEx | −$19.6k | −$7.21 |
| NOI | $45.7k | $16.83 |
2,714 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$652.6K
$571.0K – $761.4K
NOI $45,682 @ 7.0% cap · market cap 6.57%
Second Best
Specialty Retail
$636.5K
$556.9K – $742.6K
NOI $44,553 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$873.0K
$763.9K – $1.02M
NOI $61,112 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
New West Cafe
Bar & Pub
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Two-story mixed-use building with a ground-level restaurant/bar and a rented two-bedroom apartment above.
Where is this mixed-use property located?
The property is located at 879 Whalley Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Two‑story mixed‑use building (built 1900) with ground‑level restaurant/bar and a rented 2‑bedroom apartment above; Building includes 2,714 SF on the main and second floors, plus an unfinished walk‑up attic with expansion possibilities; 2‑bedroom apartment features a 5‑room layout with eat‑in kitchen, large carpeted living room, separate dining room, and 1 full bath
