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Property profile & analytics
FOR SALE
Office buildings
556 Washington Ave North Haven, CT 06473
Entity Owned
11-yr Hold
Free & Clear
Property ID
US15-0508056
For Sale
1 / 9
Contact for pricing
556 Washington Ave, North Haven, CT 06473
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Property summary
AI-generated overview
This exceptional two-story, 15,712 square foot office building is situated on a 1.03-acre lot at 556 Washington Avenue in North Haven, Connecticut, zip code 06473. Built in 1989, this Class B, multi-tenant property boasts a modern design and is ideally located for convenient access to I-91 and the Parkway. The building features an elevator, ample on-site parking, and professionally landscaped grounds. It's zoned CB-40 and is ADA compliant. Currently housing two tenants, this property offers a strong investment opportunity with an asking price of $2,700,000 ($171.84 per square foot). Annual real estate taxes are $32,729. The masonry construction ensures durability and longevity. This well-maintained property presents a compelling opportunity for investors seeking a stable, multi-tenant income stream in a desirable location. The property's size and features make it suitable for a variety of uses within the permitted zoning.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1989
Construction
FRAME
Total area
15,712 SF
Lot
1.03 ac (44,867 SF)
Zoning code
CB40
APN
NRHV M:095 L:038
UPID
US15-0508056
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
-
Shelley Halligan Physician
-
Lumibility North Haven Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.53M
Blend (final)
Blend
$1.71M
Owner & transaction history
556 Washington Avenue LLC · 11 yrs held
556 Washington Avenue LLC
since 2015
4 recorded transactions
Zoning & alternative use
CB40 · North Haven, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
ADOPTED REGS 2-5-07.doc
Top alternative use upside
Restaurant
$2.3M
+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
$1,870,000
Current use
RESTAURANT
$2,300,000
Change: +23% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,770,000
Change: -5% · Conversion: Easy
RETAIL STORES
$1,705,000
Change: -9% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$1,645,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$1.71M
Range $1.54M – $1.88M · ±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
$109 / 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
$34,797
Tax year 2023
Assessed value
$1,065,750
Assessed 2023
Previous assessed
$1,065,750
+0.0% YoY
Effective rate
3.27%
On assessed value
Assessed land
$283,080
Assessed improvement
$782,670
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 Sale
Year built
1989
Construction
FRAME
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
2
Units
1
Total area
15,712 SF
Lot
1.03 ac (44,867 SF)
Zoning code
CB40
APN
NRHV M:095 L:038
UPID
US15-0508056
Jurisdiction
NORTH HAVEN
Zoning & alternative use
CB40 · North Haven, CTZoning 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
Source
ADOPTED REGS 2-5-07.doc
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.9M
RESTAURANT
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$1.8M
RETAIL STORES
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.6M
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
1989
Construction
FRAME
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
1
Units
1
Lot
1.03 ac
Current owner
From public records · entity-resolved
556 Washington Avenue LLC
Entity
Free & Clear · 11 yrs held
Mailing address
1296 PO BOX 18TH AVE, WINDERMERE, FL 34786-0018
Ownership since
2015
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 30, 2015
$1,560,000
556 Washington Avenue LLC
Forzano Brothers LLC
Warranty Deed
—
May 15, 2012
—
Forzano Brothers LLC
—
Deed Of Trust
related
$750,000 · Putnam Savings Bank
Jul 9, 2004
$2,000,000
Forzano Bros LLC
Dtc Dev Assoc
Warranty Deed
$800,000 · Putnam Savings Bank
May 15, 2002
—
Dtc Development Assoc
—
Deed Of Trust
related
$984,000 · J P Morgan Chase 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.
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