1379 Chapel St New Haven, CT 06511-4468
- Showrooms
- 4,411 SF
- 0.11 lot acres
Current Use by Public Records
- Elius Delight Mini Market / Convenience Store
- O & R Deli and Grocery / Dominican Restaurant / Winery
Property Details for 1379 Chapel St
- Year built
- 1900
- Construction
- FRAME
- Lot size
- 0.11 lot acres
- Property size
- 4,411 SF
- Zone code
- BA
- Property type
- Showrooms
- APN
- NHVN M:316 B:0244 L:03500
- APU
- NHVNM316B0244L03500
Description
This exceptional 7-unit mixed-use investment property in New Haven, CT, presents a compelling opportunity for discerning investors. Located at 1379 Chapel St, this 4,411 square foot building, constructed in 1900, sits on a 4,720 square foot lot and boasts a current 100% occupancy rate, generating a strong net operating income (NOI) of $105,540. The property features a gross lease structure with a remaining lease term of 3 years for a long-term retail tenant. Zoned for business use (BA), this well-maintained building offers a proven track record of consistent tenancy, making it a solid income-generating asset. The asking price is $1,200,000, representing a price per square foot of $272.05 and an attractive 8.80% cap rate. Situated in a vibrant area near Yale University, Elm City Market, and the Chapel Street shopping district, this property benefits from a desirable location and high demand for rental units. The building's prime location, across from Yale New Haven Hospital, ensures consistent tenant interest and strong rental income potential. This is a turnkey investment opportunity in a thriving commercial real estate market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Haven
- County
- New Haven
- State
- Connecticut
- Longitude
- -72.941
- Latitude
- 41.3109
- CBSA code
- 35300
- CBSA name
- NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA
