Updated Mixed-Use Commercial
For Sale
$449,000
Pending
94 Kimberly Avenue, New Haven, CT 06519
Updated mixed-use building near Downtown New Haven and Yale University.
Property Size1,900 SF
Days on Market186
Property Features for 94 Kimberly Avenue
General Information
Standard status
Pending
Size
1,900 SF
Property subtype
Commercial
Building Details
Building Size
1,900 SF
Year Built
1900
Listing Agency:
Keller Williams Realty Prtnrs.
Listed By:
Valerie King · License #RES.0792662
(203) 400-6429
Source:
Iverty
Added: Apr 14
Changed: Aug 15
Last Checked: Aug 14 at 6:07AM
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 Keller Williams Realty Prtnrs.
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Investment Insights
Based on property information with market context.
This updated mixed-use commercial building presents an investment opportunity in New Haven. Located on a corner lot adjacent to Galvin Park, the property offers convenient access to Downtown New Haven and Yale University. The main level contains two retail spaces, previously used as a beauty salon/barber shop and a training center. Each retail space includes a half bathroom and access to a shared laundry room equipped with two washer/dryer hook-ups. The second-floor apartment, measuring just under 900 square feet, features two bedrooms, one full bathroom, a living room, and an eat-in kitchen, with an alcove off one bedroom suitable for a home office or sitting room. The third-floor apartment, just under 600 square feet, includes one bedroom, a split bathroom, a living room, and a spacious eat-in kitchen. The property includes off-street parking and a fenced backyard. Updates include plumbing, roofing, flooring, smart locks, and Ring cameras throughout. The building has a total size of 2584 square feet. Units are ready for new occupancy.
Key Highlights
- Updated mixed‑use commercial building with two retail spaces and two apartments.
- Prime location on a corner lot adjacent to Galvin Park, with easy access to Downtown New Haven and Yale University.
- Off‑street parking and fenced backyard.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,659
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$713,180
$713.2K
Cap Rate 7%
$509,414
$509.4K
Cap Rate 9%
$396,211
$396.2K
Market Conditions
NOI Build-Up for 2,584 SF
Gross rent
$62.0K $24.00/SF
− Vacancy
−$5.0K −$1.92/SF
EGI
$57.1K $22.08/SF
− OpEx
−$21.4K −$8.28/SF
NOI
$35.7K $13.80/SF
Area
New Haven, CT
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$713,180
Cap Rate 7%
$509,414
Cap Rate 9%
$396,211
Alternative Uses
Best Use
Mixed Use
$509.4K
$445.7K – $594.3K
NOI $35,659 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$831.2K
$727.3K – $969.8K
NOI $58,185 @ 7.0% cap · market cap 12.96%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
Explore this area
Business Placement
Demographics for 06519, CT
15,450
Population
6,424
Households
2.4
Avg Household Size
33
Median Age
20%
College-Educated
77%
High-School Grad
1.8 sq mi
ZIP Area
8,583
Density / Sq Mi
$44,394
Median Household Income
$29,745
Median Earnings
$1,356
Median Rent
$247,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated mixed-use building near Downtown New Haven and Yale University.
Where is this mixed-use property located?
The property is located at 94 Kimberly Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Updated mixed‑use commercial building with two retail spaces and two apartments.; Prime location on a corner lot adjacent to Galvin Park, with easy access to Downtown New Haven and Yale University.; Off‑street parking and fenced backyard.
