1226 Chapel St New Haven, CT 6511
Prime development site with existing income near Yale University.
Type:Retail
Property size:
1,920 SFPrice / SF:
$625/SF- Added:
- Nov 14, 2024
- Days on Market:
- 526
- Last Refresh:
- Mar 17 at 1:14 pm
Property Features for 1226 Chapel St
General Information
- Standard status
- Active
- Size
- 1,920 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1955
Listing agent Jeff Wright License #CT: 0798330
Listing office NorthEast Private Client Group Shelton
Listing date Nov 14, 2024
Source Crexi
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 NorthEast Private Client Group Shelton
Overview
Development Site Near Yale University
This development site is located across from The Novella in New Haven. The property is currently leased to an Indian restaurant until February 2025, generating a monthly rent of $4,400, plus contributions for taxes and insurance. Situated in a prime area within walking distance of Yale University and key retail destinations, the property benefits from high foot traffic and proximity to the university. The site is zoned BD1 (Business District 1) with a 6 FAR, allowing for up to 54 residential units or a mixed-use development. The property is well-positioned for an apartment or residential project, similar to nearby developments like The Novella. Redevelopment will require the buyer to secure a demolition permit for the existing building. Business D-1 Districts are designed for Central Business/Residential use, including downtown areas with concentrations of historic structures suitable for both residential and commercial use. This district concentrates residential uses at high density mixed with activities that have both a city-wide and district-wide function: small stores offering comparison shopper's goods, specialty stores, business services, offices and entertainment uses. The use of land is intensive but respects the historic character of existing historic structures. The regulations encourage preservation of existing historic structures, conversion of existing structures to residential use, high intensity of use, and to exclude activities that have a negative effect upon the proper functioning of National Register Historic Districts or of the larger downtown. The property size is 1,920 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Tandoor New Haven
Restaurant
India Palace Restaurant ...
Restaurant
Location Insight
- Map
- Local Demand
- City
- New Haven
- County
- New Haven
- State
- Connecticut
- Longitude
- -72.9354589
- Latitude
- 41.3091467
Nearby Similar for Sale
FAQs
What type of property is this?
Conventional restaurant - Prime development site with existing income near Yale University.
Where is this conventional restaurant located?
The property is located at 1226 Chapel St New Haven, CT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: High‑density zoning (BD1) with a 6 FAR allows for up to 54 residential units or a mixed‑use development.; Prime location within walking distance of Yale University and key retail destinations.; Currently leased to a restaurant generating $4,400 monthly rent plus contributions for taxes and insurance until February 2025.
