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Property profile & analytics
FOR SALE
Showrooms
1294 Chapel St New Haven, CT 06511
Individually Owned
5-yr Hold
Free & Clear
Property ID
US15-0319890
For Sale
1 / 30
$1,100,000
1294 Chapel St, New Haven, CT 06511
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
6,950 SF
Lot
0.27 ac (11,620 SF)
Zoning code
BA
APN
NHVN M:297 B:0215 L:00900
UPID
US15-0319890
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Lazhes By Lola LLC Hair Salon Nail Salon
-
Hospital of St Raphael Hospital Children's Hospital
-
Continuing Care Clinic - New Haven Physician
-
Janet Gillis-Toffolo Physician
-
Mental Health Resource Center Crisis Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.04M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$924k
Blend (final)
Blend
$1.03M
Owner & transaction history
Greater New Haven Busines · 5 yrs held
Greater New Haven Busines
since 2021
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
BA · New Haven, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.0M
+19.4%
Apartment house (5+ units)
$875,000
+3.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Haven submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Haven submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$920,000
ML approach
$1,040,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$850,000
Current use
RESTAURANT
$1,015,000
Change: +19% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$875,000
Change: +3% · Conversion: Moderate
OFFICE BUILDING
$750,000
Change: -12% · Conversion: Easy
RETAIL STORES
$740,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.03M
Range $927k – $1.13M · ±10% · vs last sale $1.14M (Jun 4 2021)
Last sale anchor
$1.14M
Jun 4 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$148 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$26,917
Tax year 2023
Assessed value
$678,020
Assessed 2023
Previous assessed
$678,020
+0.0% YoY
Effective rate
3.97%
On assessed value
Assessed land
$73,710
Assessed improvement
$604,310
Applied tax rate
306.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
For Sale
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Rooms
1
Total area
6,950 SF
Lot
0.27 ac (11,620 SF)
Zoning code
BA
APN
NHVN M:297 B:0215 L:00900
UPID
US15-0319890
Jurisdiction
NEW HAVEN
Zoning & alternative use
BA · New Haven, CT
Zoning BA · permitted uses
BA · New Haven, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Haven. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$850,000
RESTAURANT
Est. value
$1.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$875,000
OFFICE BUILDING
Est. value
$750,000
RETAIL STORES
Est. value
$740,000
COMMERCIAL (GENERAL) Current
RESTAURANT
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1940
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Rooms
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Greater New Haven Busines
Individual
Free & Clear · 5 yrs held
Mailing address
192 DIXWELL AVE, NEW HAVEN, CT 06511-3451
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2024
—
Greater Nh Bus & Profes A
—
Deed
related
$500,000 · Velocity Commercial Capital LLC
Jun 4, 2021
$1,136,000
Greater New Haven Busines
Rl1 LLC
Warranty Deed
—
Mar 13, 2020
—
Rl1 LLC
—
Deed
related
$850,000 · Patriots Bank
Nov 9, 2017
—
1294 Chapel St Assoc LLC
Bailey,david Y
Executors Deed
—
Nov 9, 2017
$625,018
Rl 1 LLC
1294 Chapel St Assoc LLC
Warranty Deed
$437,512 · Velocity Com'l Cap
Oct 26, 2016
—
1294 Chapel Street Assoc
Schaefer,edwin F
Quit Claim Deed
related
—
Sep 1, 1988
—
Edwin F Schaeffer
—
Deed Of Trust
related
$700,000 · Society For Svgs
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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