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    Property profile & analytics

    134 Forbes Ave New Haven, CT 06512-1610

    • Industrial properties
    • 10,250 SF
    • 11.11 lot acres
    OFF-MARKET
    Value Estimations
    $955,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0687148
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Magellan Midstream Partners LP / Distribution Center / Logistics Company
    • Buckeye Terminals Forbes Terminal / Oil Wholesaler

    Property Details for 134 Forbes Ave

    Year built
    1975
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    11.11 lot acres
    Property size
    10,250 SF
    Zone code
    IH
    Property type
    Industrial properties
    APN
    NHVN M:081 B:0974 L:00300
    APU
    NHVNM081B0974L00300

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $944,000
      Market price range: $517k - $945k
      AI Estimate
      $1,025,000
      Market price range: $247k - $1.03M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $700,000
      Current use
      RESTAURANT
      $1,500,000
      Change: +114% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $1,305,000
      Change: +86% Conversion: Difficult
      OFFICE BUILDING
      $1,105,000
      Change: +58% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $1,105,000
      Change: +58% Conversion: Difficult
      RETAIL STORES
      $1,090,000
      Change: +55% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $930,000
      Change: +33% Conversion: Easy
      WAREHOUSE, STORAGE
      $605,000
      Change: -14% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9001
    Latitude
    41.2978
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $149,141
    $1,148,840
    $2,860,340
    $4,009,180
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      4,446 SF

      280 Waterfront St

      INDUSTRIAL (GENERAL) • 4,446 SF
      280 Waterfront St, New Haven, CT 06512-1717
      View Details
    • Value Estimation by Request
      4,400 SF

      208 Hoover St

      INDUSTRIAL (GENERAL) • 4,400 SF
      208 Hoover St, New Haven, CT 06512-1819
      View Details
    • Value Estimation by Request
      3.41 Acres

      134 Victor St

      INDUSTRIAL (GENERAL) • 3.41 Acres
      134 Victor St, East Haven, CT 06512-3760
      View Details
    • Value Estimation by Request
      676 SF

      15 Baer Cire2

      CONDOMINIUMS (INDUSTRIAL) • 676 SF
      15 Baer Cire2, East Haven, CT 06512-4100
      View Details
    • Value Estimation by Request
      3,500 SF

      165 Alabama St

      INDUSTRIAL (GENERAL) • 3,500 SF
      165 Alabama St, East Haven, CT 06512
      View Details
    • Value Estimation by Request
      1,092 SF

      15 Baer Cirb1

      CONDOMINIUMS (INDUSTRIAL) • 1,092 SF
      15 Baer Cirb1, East Haven, CT 06512-4100
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,200 SF

      Industrial Building Near I-95

      Well-maintained industrial building with convenient highway access.
      182 Commerce St, East Haven, CT 06512
      View Details
    • $645,000
      7,380 SF

      Warehouse Convertible to Self-Storage

      7,380 SF warehouse, easily accessible, convertible to self-storage.
      5 Old Bradley St, East Haven, CT 06512
      View Details
    • New
      $193,000
      0.15 Acres

      Waterfront Land with Dock Access

      Buildable waterfront parcel with direct access to Long Island Sound.
      63 Meadow St, East Haven, CT 06512
      View Details
    • $1,650,000
      Pending

      East Haven Commercial Corner Property

      Commercial building on Main Street, East Haven, suitable for gas/auto.
      356 Main Street Anx, East Haven, CT 06512
      View Details

    Similar Nearby for Lease

    • $2,100 /Mo
      29,841 SF

      East Haven Warehouse Space Available

      29841 sqft warehouse space for rent in East Haven.
      208 Main Street Anx, East Haven, CT 06512
      View Details
    • $2,750 /Mo
      3,614 SF

      East Haven Warehouse with Office

      Warehouse space with mezzanine and optional office near I-95.
      34 Panagrosi Cir, East Haven, CT 06512
      View Details
    • $2,100 /Mo
      29,841 SF

      Retail Space in Town Center

      Retail space in central location with ample parking.
      208 Main Street Anx, East Haven, CT 06512
      View Details
    • $2,250 /Mo
      5,451 SF

      Renovated Retail Space on Main

      1,700+-square-foot retail space in a high-traffic area.
      334 Main Street Anx, East Haven, CT 06512
      View Details
    • $3,300 /Mo
      2,650 SF

      Office Space Available For Rent

      2650 sqft office space available for lease.
      347 Forbes Ave, New Haven, CT 06512
      View Details
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    134 Forbes Ave
    New Haven, CT 06512-1610
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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