Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    824 Chapel St New Haven, CT 06510

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    High-traffic retail space, divisible.

    Lot size:
    10,639 SF

    Property Features for 824 Chapel St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    10,639 SF
    Total Rate
    24824.33

    Building Details

    Year Built
    1900
    Stories
    2

    Spaces For Lease

    at 824 Chapel St, New Haven, CT 06510 Contact us
    Unit 2,762 SF

    $28 /Mo

    Size
    2,762 SF
    Contact us

    We can help!

    Listing Contact
    J. Richard Lee
    J. Richard Lee

    Listing Agency: O, R&L Commercial Branford Listing Agent: J. Richard Lee

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional retail opportunity encompasses 2,762 square feet of prime commercial space at 824 Chapel Street in the heart of New Haven, Connecticut. Located in a high-traffic area experiencing significant development, this property offers excellent visibility and accessibility. The space is situated within a two-story building (10,639 total square feet) constructed in 1900, and is divisible to approximately 1,300 square feet, providing flexibility for various business needs. The property sits on a 0.51-acre lot and is zoned BD1. Its strategic location benefits from proximity to a new 162-unit student housing development (completion expected in 2024), the popular Elm City Market, and the 360 State high-rise with 500 residential units. Furthermore, its convenient location offers easy access to Yale University's campus, the New Haven Green, and Yale New Haven Hospital, ensuring a substantial customer base. The lease rate is $28.00 per square foot on a modified gross basis. This presents a unique chance to establish a thriving business in a vibrant and rapidly growing urban environment. The property is in New Haven County, CT, zip code 06510.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    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
    -72.92480118263
    Latitude
    41.305652924208

    Nearby Similar for Lease

    • New
      $2,200 /Mo
      11,800 SF

      Retail/Office Space in Hamden, CT

      850 SF retail/office space in high-traffic Hamden location.
      2348 Whitney Ave, Hamden, CT 06518
      View Details
    • $3,700 /Mo
      72,310 SF

      East Haven Office Space Available

      3,200 SF office space with functional layout for rent.
      182 Commerce St, East Haven, CT 06512
      View Details
    • $17 SF/Yr
      3,942 SF

      Hamden Office Building For Rent

      4,000 SF office building on 0.28 acres in Hamden.
      2040 Whitney Ave, Hamden, CT 06517
      View Details
    • $14 SF/Yr
      1,720 SF

      Hamden Office Space For Lease

      Well-designed office suite with private entrance and ample parking.
      10 Broadway, Hamden, CT 06518
      View Details
    • $2,400 /Mo
      1,379 SF

      New Haven Commercial Space Available

      Versatile storefront in New Haven with high visibility and foot traffic.
      530 Whalley Ave, New Haven, CT 06511
      View Details
    • $17 SF/Yr
      3,400 SF

      New Haven Retail/Office Space

      3400 SF retail or office space near major universities.
      59 Amity Rd, New Haven, CT 06515
      View Details
    • $16 SF/Yr
      3,200 SF

      Prime Hamden Office/Retail Space

      3200 SF office/retail space in high-traffic Hamden location.
      2340 2Nd St, Hamden, CT 06518
      View Details
    • $16 SF/Yr
      2,560 SF

      Prime Hamden Commercial Space Available

      High-traffic Hamden location, ideal for office or retail use.
      2340 Whitney Ave, Hamden, CT 06518
      View Details
    • $10 SF/Yr
      4,800 SF

      West Haven Retail Space Available

      Retail space for lease in a well-maintained plaza.
      221 Bull Hill Ln, West Haven, CT 06516
      View Details
    • $2,200 /Mo
      1,621 SF

      Hamden Office Space For Lease

      Office space in Hamden with parking and modification options.
      3848 Whitney Ave, Hamden, CT 06518
      View Details
    • $8 SF/Yr
      12,075 SF

      West Haven Commercial Space Available

      Showroom and warehouse space suitable for various businesses.
      754 Washington Ave, West Haven, CT 06516
      View Details
    • $10,000 /Mo
      5,187 SF

      Renovated Flex Space in Hamden

      5,187 SF renovated flex space with ample parking.
      2259 State St, Hamden, CT 06517
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - High-traffic retail space, divisible.
    Where is this office property / space located?
    The property is located at 824 Chapel St New Haven, CT.
    What is the lease rate?
    The lease rate is $28 SF/Yr.
    What are key features of this property?
    This property features: Prime Downtown New Haven location.; New Haven Green frontage.; 2,762 SF of street-level retail space available for lease, divisible to approximately 1,300 SF.
    (203) 483-2040 Call to check price and availability
    Request Owner's contact information
    824 Chapel St New Haven, CT 06510
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    824 Chapel St
    New Haven, CT 06510
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    824 Chapel St New Haven, CT 06510
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing J. Richard Lee
    J. Richard Lee
    Real Estate License ID: RES.0766102
    (203) 483-2040 (203) 488-1555
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!