Mixed-Use Property in New
For Sale
$974,000
796-798 , New Haven, CT 06511
Established mixed-use property with immediate income potential in New Haven.
Property Size1,910 SF
Days on Market176
Property Features for 796-798
General Information
Standard status
Active
Size
1,910 SF
Property subtype
Commercial
Lease Term
Listing ID: 24166873, Standard Status: Active, MLS Status: Active, 107 days on market
Building Details
Building Size
1,910 SF
Year Built
1910
Listing Agency:
Houlihan Lawrence WD
(203) 701-4848
Listed By:
Frank D'Ostilio · License #REB.0789479
(203) 641-7072
Source:
Iverty
Added: Apr 13
Changed: Oct 4
Last Checked: Oct 5 at 7:23PM
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 Houlihan Lawrence WD
Investment Insights
Based on property information with market context.
The property at 796-798 George Street in New Haven, CT, offers a mixed-use opportunity. The street level features a pizzeria and a grocery store. There are also two residential apartments. The current rental income is $2,400 per month for the grocery store, $2,750 per month for the pizzeria, $1,600 per month for Apartment 1, and $1,750 per month for Apartment 2. This property may be suitable for owner-operators or investors seeking a turnkey business with existing cash flow.
Key Highlights
- Established mixed‑use property in the heart of New Haven
- Turnkey business with built‑in cash flow from existing tenants
- Immediate income potential from pizzeria, grocery store, and two apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,355
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,100
$627.1K
Cap Rate 7%
$447,929
$447.9K
Cap Rate 9%
$348,389
$348.4K
Market Conditions
NOI Build-Up for 1,910 SF
Gross rent
$43.5K $22.80/SF
− Vacancy
−$1.7K −$0.91/SF
EGI
$41.8K $21.89/SF
− OpEx
−$10.5K −$5.47/SF
NOI
$31.4K $16.42/SF
Area
New Haven, CT
Vacancy
4.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,100
Cap Rate 7%
$447,929
Cap Rate 9%
$348,389
Alternative Uses
Best Use
Specialty Retail
$447.9K
$391.9K – $522.6K
NOI $31,355 @ 7.0% cap · market cap 3.22%
Second Best
Retail
$394.0K
$344.8K – $459.7K
NOI $27,580 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$614.4K
$537.6K – $716.8K
NOI $43,008 @ 7.0% cap · market cap 4.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,303
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
The UPS Store
Shops & Services
7,623 visits/mo
0.5 miles
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in New Haven, CT
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Established mixed-use property with immediate income potential in New Haven.
Where is this mixed-use property located?
The property is located at 796-798 New Haven, CT.
What is the asking price?
The asking price for this property is $974,000.
What are key features of this property?
This property features: Established mixed‑use property in the heart of New Haven; Turnkey business with built‑in cash flow from existing tenants; Immediate income potential from pizzeria, grocery store, and two apartments
