105 Derby Ave New Haven, CT 06511-5103

Property Details for 105 Derby Ave

Year built

1970

Construction

STEEL FRAME

Lot size

0.46 lot acres

Property size

2,563 SF

Zone code

BA

Property type

Showrooms

APN

NHVN M:338 B:0209 L:00800

APU

NHVNM338B0209L00800

Description

This exceptional mixed-use property in New Haven County boasts a thriving laundromat business generating substantial income. The 2,563 square foot building sits on a 0.46-acre lot and includes 15 parking spaces. Currently, a portion of the building (800 minimum divisible square feet) is leased to a takeout restaurant, adding to the property's overall revenue stream. The laundromat features high-end stainless steel, heavy-duty washers and dryers, ensuring efficient operation and strong cash flow. The property's location just one mile from Yale University contributes to its high occupancy and strong tenant demand. Financial records indicate an annual gross income of $187,200 from the laundromat alone. After deducting expenses (property tax: $12,884; gas: $8,040; electricity: $8,220; water: $3,720; dumpster: $1,800; landscaping/snow: $600; insurance: $3,260), the net operating income (NOI) stands at $148,676, representing an 11% capitalization rate. The existing restaurant lease presents an opportunity to further increase profitability, potentially boosting the cap rate to 12.5%. This property offers a compelling investment opportunity with strong current income and significant upside potential. The densely populated neighborhood ensures consistent demand for both the laundromat and restaurant services. This is a rare chance to acquire a well-established, high-performing commercial property in a prime location.

Location Insight

City

New Haven

County

New Haven

State

Connecticut

Longitude

-72.9497

Latitude

41.3111

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments