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    Property profile & analytics

    720 Middletown Ave New Haven, CT 06513

    • Industrial properties
    • 3,360 SF
    • 0.56 lot acres
    OFF-MARKET
    Last Sale
    Apr 29, 2024
    $282,900
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0119433
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Industrial properties

    Property Details for 720 Middletown Ave

    Year built
    1970
    Construction
    STEEL FRAME
    Lot size
    0.56 lot acres
    Property size
    3,360 SF
    Zone code
    RM1
    Property type
    Industrial properties
    APN
    NHVN M:144 B:1048 L:07200
    APU
    NHVNM144B1048L07200

    Description

    This exceptional 3,360-square-foot industrial flex space, situated on a 0.7-acre lot at 720 Middletown Ave, New Haven, CT 06513, presents a compelling investment opportunity. Built in 1970, the property boasts a single building with a permitted IL zoning designation, ideal for a variety of commercial and industrial uses. The warehouse features two 14-foot overhead doors providing ample access for trucks and vehicles, with a 40+ foot depth. A significant advantage is the inclusion of a 1,200-square-foot covered loading platform and substantial laydown space. The building also includes a heated and air-conditioned office area with a bathroom and additional storage space above the office. The property offers gated access for enhanced security. The 0.7-acre lot comprises a 0.56-acre parcel plus an additional contiguous 0.14-acre lot (with a separate address). The high ceilings, measuring 18 feet, provide excellent vertical space. This property is perfect for truck/vehicle maintenance, industrial shops, storage, or other permitted commercial/industrial uses. The warehouse is also available for lease at $2200/month. This property offers a unique blend of warehouse and office space, making it a versatile option for a range of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $285,000
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $309,000
      Market price range: $170k - $310k
      AI Estimate
      $276,000
      Market price range: $68.4k - $276k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8721
    Latitude
    41.3344
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,544
    $106,680
    $149,870
    $256,550
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $750,000
      42,752 SF

      100 Gando Dr

      INDUSTRIAL (GENERAL) • 42,752 SF
      100 Gando Dr, New Haven, CT 06513-1049
      View Details
    • Value Estimation
      $700,000
      13,260 SF

      184 Chapel St

      INDUSTRIAL (GENERAL) • 13,260 SF
      184 Chapel St, New Haven, CT 06513
      View Details
    • Value Estimation
      $630,000
      6,715 SF

      299 Chapel St

      INDUSTRIAL (GENERAL) • 6,715 SF
      299 Chapel St, New Haven, CT 06513-4215
      View Details
    • Value Estimation
      $245,000
      1,516 SF

      100 Chapel St

      INDUSTRIAL (GENERAL) • 1,516 SF
      100 Chapel St, New Haven, CT 06513-4358
      View Details
    • Value Estimation
      $355,000
      1,800 SF

      140 Middletown Ave

      MIXED USE (COMMERCIAL/INDUSTRIAL) • 1,800 SF
      140 Middletown Ave, New Haven, CT 06513-2103
      View Details
    • Value Estimation
      $95,000
      1,150 SF

      64 Thompson St Ste B205

      CONDOMINIUMS (INDUSTRIAL) • 1,150 SF
      64 Thompson St Ste B205, East Haven, CT 06513-5708
      View Details

    Similar Nearby for Sale

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      New Haven Industrial Property

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      Established Business Opportunity in New Haven

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    Similar Nearby for Lease

    • $12 SF/Yr
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    • $15 SF/Yr
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      Prime New Haven Warehouse Space

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    • $3,000 /Mo
      3,000 SF

      Office with Garage For Rent

      Renovated office space with garage and parking, near I-95/I-91.
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    • Contact for pricing
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      Retail Space on Busy Route

      Retail space with excellent frontage and high traffic volume.
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      View Details
    • $750 /Mo
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      Charming Retail/Office Space Available

      Retail or office space with hardwood floors and natural light.
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      View Details
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    720 Middletown Ave
    New Haven, CT 06513
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    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
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