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    1226 Chapel St New Haven, CT 06511

    Sponsored
    For Sale
    $1,200,000

    Prime Yale area, high-potential site

    Property size:
    1,920 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 1,920 sq ft restaurant property at 1226 Chapel St, New Haven, CT, is available for $1,200,000. Currently leased until February 28, 2025, at 100% occupancy, generating a NOI of $52,800 and a 4.40% cap rate. The property sits on a 0.21-acre lot with 20 parking spaces and is zoned BD1, allowing for high-density residential or mixed-use development, up to 54 units. Its prime location across from The Novella, near Yale University and key retail destinations, ensures high foot traffic and strong redevelopment potential. The existing building will require a demolition permit. The property features a single-story building constructed in 1955, with a permitted zoning of BD1. The current lease is an Absolute NNN with a remaining term of approximately 0.3 years. This presents a unique opportunity to capitalize on the vibrant New Haven market and its proximity to Yale University. The Business District 1 zoning allows for a variety of uses, including multifamily, retail, restaurants, office, and medical uses, making this an exceptional redevelopment opportunity. The property's strong cash flow from the current tenant provides a stable investment while redevelopment plans are finalized.

    Property Features for 1226 Chapel St

    General Information

    Property type
    Restaurants
    Square Feet
    1,920 SF
    Class
    C
    Lot Size
    9,148 SF

    Building Details

    Year Built
    1955
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • Prime, irreplaceable location.
    • Exceptional proximity to Yale University, Broadway shops, Downtown New Haven, and Yale New Haven Hospital.
    • Highly flexible BD1 zoning, permitting multifamily, retail, restaurant, office, and medical uses.
    • Comprehensive zoning use table available.
    • Proven track record of diverse uses in the immediate area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tandoor New Haven Indian Restaurant India Palace Restaurant ... Indian Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9353435
    Latitude
    41.3091352

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    FAQs

    What type of property is this?
    Restaurant - Prime Yale area, high-potential site
    Where is this 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: Prime, irreplaceable location.; Exceptional proximity to Yale University, Broadway shops, Downtown New Haven, and Yale New Haven Hospital.; Highly flexible BD1 zoning, permitting multifamily, retail, restaurant, office, and medical uses.
    Request Owner's contact information
    1226 Chapel St New Haven, CT 06511
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    New Haven, CT 06511
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1226 Chapel St New Haven, CT 06511
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