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Property profile & analytics
FOR LEASE
Showrooms
389 Whitney Ave, New Haven, CT 06511
Entity Owned
24-yr Hold
Absentee Owner
Free & Clear
Property ID
US15-0844483
For Lease
1 / 2
$500/Mo
389 Whitney Ave, New Haven, CT 06511
View Listing →
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1893
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
13,710 SF
Lot
0.77 ac (33,600 SF)
Zoning code
RH1
APN
NHVN M:220 B:0413 L:00300
UPID
US15-0844483
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
-
Moses Ira PhD Physician Medical Clinic
-
Anne Dutton LCSW Foster Care Service Social Service Agency
-
Geller Jesse D PhD Physician Medical Clinic
-
Ottenheimer Susan Psychotherapist
-
The Consultation Center Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.92M
Blend (final)
Blend
$1.64M
Owner & transaction history
389 Whitney Ave LLC · 24 yrs held
389 Whitney Ave LLC
since 2002
4 recorded transactions
Zoning & alternative use
RH1 · New Haven, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.0M
+19.4%
Apartment house (5+ units)
$1.7M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,680,000
Current use
RESTAURANT
$2,005,000
Change: +19% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,730,000
Change: +3% · Conversion: Moderate
OFFICE BUILDING
$1,480,000
Change: -12% · Conversion: Easy
RETAIL STORES
$1,455,000
Change: -13% · Conversion: Easy
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±10%
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
$119 / 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
$52,486
Tax year 2023
Assessed value
$1,410,920
Assessed 2023
Previous assessed
$1,410,920
+0.0% YoY
Effective rate
3.72%
On assessed value
Assessed land
$216,790
Assessed improvement
$1,194,130
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 Lease
Year built
1893
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
3
Units
27
Rooms
1
Total area
13,710 SF
Lot
0.77 ac (33,600 SF)
Zoning code
RH1
APN
NHVN M:220 B:0413 L:00300
UPID
US15-0844483
Jurisdiction
NEW HAVEN
Zoning & alternative use
RH1 · New Haven, CT
Zoning RH1 · permitted uses
RH1 · 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
$1.7M
RESTAURANT
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.5M
RETAIL STORES
Est. value
$1.5M
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
1893
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
1
Units
27
Rooms
1
Lot
0.77 ac
Current owner
From public records · entity-resolved
389 Whitney Ave LLC
Entity
Free & Clear · 24 yrs held
Mailing address
3013 DIXWELL AVE, HAMDEN, CT 06518-3527
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 24, 2002
—
389 Whitney Ave LLC
Mellon House Assoc
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
related
—
Aug 5, 1994
$30,000
Nicholas P Scasino
Smith,hunter W
Grant Deed
—
Aug 5, 1994
$15,000
Susan B Candido
Scasino,niciholas P
Grant Deed
—
Jun 18, 1991
—
Mellon House Assoc
—
Deed Of Trust
related
$1,890,000 · Ct Savings Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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