Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    341 Smith Ave New Haven, CT 06513-1147

    • Investment properties
    • 41,645 SF
    • 11.96 lot acres
    OFF-MARKET
    Last Sale
    Jul 05, 2023
    Value Estimations
    $7,460,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0948523
    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

    • Investment properties

    Property Details for 341 Smith Ave

    Year built
    1972
    Lot size
    11.96 lot acres
    Property size
    41,645 SF
    Zone code
    RM1
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    NHVN M:133 B:1054 L:00900
    APU
    NHVNM133B1054L00900

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $9,580,000
      6.5%
      $8,840,000
      7%
      $8,210,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $7,886,000
      Market price range: $3.03M - $7.89M
      AI Estimate
      $5,644,000
      Market price range: $2.15M - $5.64M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $4,700,000
      Current use
      RESTAURANT
      $6,090,000
      Change: +30% Conversion: Difficult
      OFFICE BUILDING
      $4,495,000
      Change: -4% 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
    -72.8744
    Latitude
    41.328
    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
    $249,510
    $2,310,000
    $4,397,260
    $6,707,260
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3,043 SF

      163 Chapel St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,043 SF
      163 Chapel St, New Haven, CT 06513
      View Details
    • Value Estimation by Request
      2,009 SF

      120 Farren Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,009 SF
      120 Farren Ave, New Haven, CT 06513-6506
      View Details
    • Value Estimation
      $530,000
      7,840 SF

      110 Lenox St

      OFFICE/RESIDENTIAL (MIXED USE) • 7,840 SF
      110 Lenox St, New Haven, CT 06513-4463
      View Details
    • Value Estimation by Request
      3,752 SF

      356 Lenox St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,752 SF
      356 Lenox St, New Haven, CT 06513-4040
      View Details
    • Value Estimation by Request
      3,111 SF

      92 Chapel St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,111 SF
      92 Chapel St, New Haven, CT 06513-4384
      View Details
    • Value Estimation by Request
      420 SF

      159 Chapel St

      OFFICE/RESIDENTIAL (MIXED USE) • 420 SF
      159 Chapel St, New Haven, CT 06513-4387
      View Details

    Similar Nearby for Sale

    • $2,400,000
      46,000 SF

      New Haven Industrial Property

      Owner-User Flex Warehouse, I-91 Access
      654 Ferry St, New Haven, CT 06513
      View Details
    • $469,000

      New Haven Specialty Property

      Specialty property available for sale in New Haven, Connecticut.
      43 E Pearl St, New Haven, CT 06513
      View Details
    • $749,900

      New Haven Multifamily Investment Property

      Well-maintained six-unit property near downtown New Haven.
      111 Chapel St, New Haven, CT 06513
      View Details
    • $444,900

      New Haven Multifamily Investment Opportunity

      Well-maintained three-unit property in New Haven, ideal for investors.
      190 Farren Ave, New Haven, CT 06513
      View Details
    • $9,999,999
      34,382 SF

      Healthcare Accessible Medical Facility

      Existing medical facility with redevelopment potential in New Haven.
      181 Clifton St, New Haven, CT 06513
      View Details
    • $330,000

      New Haven Two-Family Home

      Well-kept two-family home in New Haven's Fair Haven.
      295 Lloyd St, New Haven, CT 06513
      View Details

    Similar Nearby for Lease

    • $750 /Mo
      536 SF

      Charming Retail/Office Space Available

      Retail or office space with hardwood floors and natural light.
      1 Grand Ave, New Haven, CT 06513
      View Details
    • $1,400 /Mo

      Apartment with Quinnipiac River Views

      One-bedroom apartment with river views, available November 15.
      535 Quinnipiac Ave, New Haven, CT 06513
      View Details
    • $2,000 /Mo

      New Haven 3-Bedroom Rental

      Recently cleaned 3-bedroom, 1-bath rental unit in New Haven.
      65 1St Ave, New Haven, CT 06513
      View Details
    • $2,000 /Mo

      Renovated Three-Bedroom Apartment For Rent

      Recently renovated 3-bedroom apartment with updated kitchen and bathroom.
      88 Flr, New Haven, CT 06513
      View Details
    • Contact for pricing
      3,000 SF

      Retail Space on Busy Route

      Retail space with excellent frontage and high traffic volume.
      472-480 Foxon Blvd, New Haven, CT 06513
      View Details
    • Contact for pricing

      Retail Space in New Haven

      Highly visible retail end-cap opportunity in New Haven, CT.
      New Haven, CT 06513
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    341 Smith Ave
    New Haven, CT 06513-1147
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.