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Property profile & analytics
FOR LEASE
Office buildings
500 Washington Ave North Haven, CT 06473
Entity Owned
8-yr Hold
Free & Clear
Property ID
US15-0360372
For Lease
1 / 8
$1,705/Mo
500 Washington Ave, North Haven, CT 06473
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1960
Total area
5,904 SF
Lot
0.51 ac (22,216 SF)
Zoning code
CB40
APN
NRHV M:090 L:019
UPID
US15-0360372
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
-
Nationwide Insurance: Joseph E Mantovani Insurance Agency
-
Cable Systems Telecommunications Service
-
Stevens Roofing Roofing Company General Contractor
-
Friends Nails & Spa Nail Salon
-
E Pierpont Electrical Contractor Electrical Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$568k
Blend (final)
Blend
$525k
Owner & transaction history
5 Wa Ave LLC · 8 yrs held
5 Wa Ave LLC
since 2018
5 recorded transactions
Zoning & alternative use
CB40 · North Haven, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$865,000
+23.0%
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 North Haven submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs North 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
OFFICE BUILDING
$700,000
Current use
RESTAURANT
$865,000
Change: +23% · Conversion: Moderate
COMMERCIAL (GENERAL)
$665,000
Change: -5% · Conversion: Easy
RETAIL STORES
$640,000
Change: -9% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$620,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$89 / 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
$12,963
Tax year 2023
Assessed value
$397,020
Assessed 2023
Previous assessed
$397,020
+0.0% YoY
Effective rate
3.27%
On assessed value
Assessed land
$224,000
Assessed improvement
$173,020
Applied tax rate
307.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1960
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Total area
5,904 SF
Lot
0.51 ac (22,216 SF)
Zoning code
CB40
APN
NRHV M:090 L:019
UPID
US15-0360372
Jurisdiction
NORTH HAVEN
Zoning & alternative use
CB40 · North Haven, CT
Zoning CB40 · permitted uses
CB40 · North Haven, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
North Haven. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$700,000
RESTAURANT
Est. value
$865,000
COMMERCIAL (GENERAL)
Est. value
$665,000
RETAIL STORES
Est. value
$640,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$620,000
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1960
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Lot
0.51 ac
Current owner
From public records · entity-resolved
5 Wa Ave LLC
Entity
Free & Clear · 8 yrs held
Mailing address
1180 N COLONY RD, WALLINGFORD, CT 06492-1730
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2018
—
5 Wa Ave LLC
5 Wa Ave LLC
Quit Claim Deed
related
—
Apr 4, 2018
$850,000
5 Washington Avenue LLC
494-5 Washington Ave LLC
Warranty Deed
—
Jun 19, 2013
—
494-500 Washington Av LLC
Bank Of Southern Ct
Quit Claim Deed
related
$300,000 · Bank Of Southern Conn
Jun 20, 2012
—
Bank Of Southern Ct
Smv Building Assoc LLC
One Of Committee, Strict Foreclosure, Sheriff, Or Redemption Deeds
related
—
Apr 15, 2010
—
Smv Building Assoc
—
Deed Of Trust
related
$200,000 · Steven Vincent
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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