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    52 Prospect St Derby, CT 06418

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    52 Prospect St Derby, CT 06418

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    • Commercial real estate
    • 4,022 SF
    • 0.32 lot acres
    Off-Market
    Property ID
    US15-0007337
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 52 Prospect St

    Year built
    1900
    Lot size
    0.32 lot acres
    Property size
    4,022 SF
    Property type
    Commercial real estate

    Description

    This exceptional value-add multifamily investment opportunity presents a 6-unit apartment building situated on a 0.32-acre lot in Derby, Connecticut. The property consists of two, two-story buildings totaling 4,022 square feet of net rentable space, featuring a mix of three one-bedroom/one-bathroom and three two-bedroom/one-bathroom units. Currently boasting 100% occupancy and a strong net operating income (NOI) of $69,503, this property offers an attractive 8.42% cap rate at an asking price of $825,000 ($137,500 per unit). Built in 1900, the property features desirable amenities including direct entry units, private patios or balconies in select units, a private backyard, and ample on-site parking. Located on a quiet, tree-lined street, it benefits from convenient access to Route 34, other major highways, public transportation, local schools, and numerous retail, dining, and entertainment options. The property's location offers easy commutes to Shelton, Bridgeport, and New Haven. Several units present below-market rents, providing a significant opportunity to increase income through rent adjustments and potential interior upgrades. Each unit has separate meters for electricity, gas heat, and hot water, with tenants responsible for their respective utilities. The landlord covers common area electricity, water, and sewer. Strong demographics within a 3-5 mile radius further enhance the property's investment potential, with average household incomes exceeding $125,000. This property represents a compelling investment opportunity with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Derby
    County
    New Haven
    State
    Connecticut
    Longitude
    -73.0783346
    Latitude
    41.3152374

    Comparable in this City

    • $349,500
      1,920 SF

      Derby Multifamily Investment Opportunity

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      63 Minerva St, Derby, CT 06418
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    • $499,900
      2,128 SF

      Renovated Two-Family Home For Sale

      Spacious two-family home with renovated interiors, ideal for investors.
      121 Hawthorne Ave, Derby, CT 06418
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    Similar Nearby for Sale

    • $499,900
      2,128 SF

      Renovated Two-Family Home For Sale

      Spacious two-family home with renovated interiors, ideal for investors.
      121 Hawthorne Ave, Derby, CT 06418
      View Details
    • $349,500
      1,920 SF

      Derby Multifamily Investment Opportunity

      Two spacious apartments near transportation, shopping, and revitalized downtown.
      63 Minerva St, Derby, CT 06418
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo

      Three-Bedroom Rental with Hardwood Floors

      Well-maintained three-bedroom rental with refinished hardwood floors and updated bathroom.
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    • $1,350 /Mo

      Main-Level Apartment Near Parks

      Main-level apartment near parks and bus line, ideal for commuters.
      227 Olivia St, Derby, CT 06418
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    • $1,625 /Mo

      Derby Apartment with On-Site Laundry

      Well-maintained 1-bedroom apartment with on-site laundry and storage.
      20 8Th St, Derby, CT 06418
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    • $1,800 /Mo

      Spacious Apartment Near Downtown Shelton

      Two-bedroom apartment with updated kitchen, in-unit laundry, parking.
      49 Atwater Ave, Derby, CT 06418
      View Details
    • Contact for pricing
      1,111 SF

      Two-Bedroom Rental with Hardwood Floors

      Well-maintained two-bedroom rental with refinished hardwood floors.
      301 Roosevelt Dr, Derby, CT 06418
      View Details
    • Contact for pricing

      Renovated Shopping Center Retail Spaces

      Highly visible, renovated shopping center with anchor and small shop spaces.
      656 New Haven Ave, Derby, CT 06418
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    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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