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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    17 Elizabeth St Derby, CT 06418

    • Investment properties
    • 23,175 SF
    • 0.28 lot acres
    For Lease
    View listing
    $1,500,000
    Value Estimations
    $690,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0208848
    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

    • Riverwalk Social / Pizza Restaurant / Restaurant
    • Archie Moore's Bar & Restaurant / Bar & Grill / Bar
    • Melissa Perkins / Counselor
    • Inner Strength Counseling LLC® / Counselor / Marriage Or Relationship Counselor
    • sentinel solutions – advanced marketing / Consultant

    Property Details for 17 Elizabeth St

    Year built
    1926
    Construction
    FRAME
    Lot size
    0.28 lot acres
    Property size
    23,175 SF
    Zone code
    CDD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    DERB M:8 B:5 L:79
    APU
    DERBM8B5L79

    Description

    This exceptional commercial property at 17 Elizabeth Street in Derby, CT, presents a compelling investment opportunity. The 23,175 square foot brick building sits on a 0.28-acre lot and offers a blend of retail and office space, currently configured as four ground-level retail units and six second-floor office units. A prominent feature is a well-established, two-level restaurant with a private outdoor patio. Three additional retail storefronts complete the ground floor offerings. Five of the six office units are currently occupied by long-term tenants, providing immediate income potential. The current rental income offers significant upside, with the potential to increase significantly when the currently vacant office suite is leased. The building boasts efficient gas heat, central air conditioning, and a recently installed (four-year-old) EPDM rubber roof, minimizing maintenance concerns. Convenient street parking is available, supplemented by a nearby municipal parking garage. Its prime downtown location offers exceptional visibility and accessibility, situated next to Derby Town Hall and within easy reach of Route 34 and Route 8. The property's current office-over-retail configuration presents the exciting possibility of conversion to a mixed-use residential-over-retail building, further enhancing its investment potential. The asking price is $1,500,000, representing a 7.8% cap rate with potential to reach 9% upon full occupancy at market rents.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $550,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $829,000
      Market price range: $775k - $1.94M

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

    Location Insight

    • Map
    • Local Demand
    City
    Derby
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0888
    Latitude
    41.32
    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
    $17,490
    $54,600
    $398,510
    $453,110
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $935,000
      0.43 Acres

      65 Elizabeth St

      OFFICE/RESIDENTIAL (MIXED USE) • 0.43 Acres
      65 Elizabeth St, Derby, CT 06418-1825
      View Details
    • Value Estimation by Request
      3,453 SF

      146 New Hvn Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 3,453 SF
      146 New Hvn Ave, Derby, CT 06418-2147
      View Details
    • Value Estimation by Request
      6,029 SF

      21-23 Derby Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,029 SF
      21-23 Derby Ave, Derby, CT 06418
      View Details
    • Value Estimation by Request
      4,800 SF

      71 Elizabeth St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,800 SF
      71 Elizabeth St, Derby, CT 06418-1825
      View Details
    • Value Estimation by Request
      0.83 Acres

      350 Hawthorne Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 0.83 Acres
      350 Hawthorne Ave, Derby, CT 06418-1060
      View Details
    • Value Estimation by Request
      1.08 Acres

      135 Main St, Unit 141

      OFFICE/RESIDENTIAL (MIXED USE) • 1.08 Acres
      135 Main St, Derby, CT 06418-1934
      View Details

    Similar Nearby for Sale

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      Multifamily property available for sale.
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    • $489,900

      Duplex with Tenant Income Potential

      Two-unit duplex ideal for owner-occupancy with rental income.
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      Meticulously maintained two-family home on a one-acre lot.
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    Similar Nearby for Lease

    • Contact for pricing
      7,803 SF

      Hilltop Commons Retail Space for Lease

      Derby, CT: Prime Retail, High Visibility
      656 New Haven Ave, Derby, CT 06418
      View Details
    • $1,500,000
      1,460 SF

      Move-in Ready Office Suite

      Spacious office suite in Derby's thriving downtown renaissance.
      17 Elizabeth St, Derby, CT 06418
      View Details
    • Contact for pricing
      8,000 SF

      Retail Opportunity in Derby, CT

      Retail space available for lease in Derby, Connecticut.
      540 New Haven Ave, Derby, CT 06418
      View Details
    • $2,200 /Mo

      Well-Maintained Duplex with Private Deck

      Functional duplex with eat-in kitchen, deck, and central air.
      4 Trumbull St, Derby, CT 06418
      View Details
    • $2,250 /Mo

      Spacious Three Bedroom Unit

      Three bedroom unit with large kitchen and open living space.
      39 Park Ave, Derby, CT 06418
      View Details
    • $3,500 /Mo
      2,000 SF

      Freestanding Building on High-Traffic Road

      2,000 SF building on 1 acre, suitable for many uses.
      795 Roosevelt Dr, Derby, CT 06418
      View Details
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    17 Elizabeth St
    Derby, CT 06418
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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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