247 Kimberly AveNew Haven, CT 06519

Property Details for 247 Kimberly Ave

Year built

1955

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.23 AC

Property size (Sq ft)

1,219 SF

Zone code

IL

Property type

Other commercial real estate

Property subtype

Showrooms

APN

NHVN M:268 B:0017 L:00500

APU

NHVNM268B0017L00500

Description

This exceptional 1,219 square foot auto shop, situated on a 0.23-acre lot (70' x 135'), presents a compelling investment opportunity in New Haven, Connecticut. The property, located at 247 Kimberly Avenue, 06519, boasts convenient access to I-95's north and southbound entrances, less than a quarter-mile away. Built in 1955, the cinder block structure features two overhead doors – one with a 10-foot high bay and the other a 14-foot high bay – ideal for accommodating various vehicles and equipment. An additional office/storage area provides versatile space for administrative tasks or inventory. The property's history includes use for auto sales and service, making it well-suited for continued operation in this sector. However, its location and size also lend themselves to redevelopment, potentially with a steel building, catering to a range of businesses. The asking price is $350,000, translating to $287.12 per square foot. The property's strategic location is further enhanced by its proximity to established businesses such as D&D, Enterprise, McDonald's, and Dairy Queen. This presents a unique chance to acquire a well-positioned commercial property with significant potential.

• CAP approach

  CAP return

  Valuation

  6%

  $296,260

  6.5%

  $273,470

  7%

  $253,937

• Comparable approach

  Method

  Valuation

  Relative Method

  $401,372

  Geo Method

  $401,372

• Alternative Use

  Use

  Valuation

  Residential

  $230,682

  Hospitality

  $211,304

  Educational

  $175,802

  Medical

  $181,848

  Retail

  $273,470

Location Insight

City

New Haven

County

New Haven

State

Connecticut

Latitude

41.286

Longitude

-72.9367

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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