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

    671 State St New Haven, CT 06511-6509

    • Office Properties & Spaces
    • 4,000 SF
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0893985
    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

    • floodtools / Software Company
    • Abbate Insurance Associates, Inc. / Home Insurance Agency / Life Insurance Agency
    • State Plaza / Mortgage Lender

    Property Details for 671 State St

    Year built
    1988
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Property size
    4,000 SF
    Zone code
    BA
    Property type
    Office Properties & Spaces
    APN
    NHVN M:209 B:0590 L:00204
    APU
    NHVNM209B0590L00204

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $430,000
      Current use
      RETAIL STORES
      $425,000
      Change: -2% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $365,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.918
    Latitude
    41.3098
    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
    $12,567
    $70
    $337,750
    $337,820
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $260,000
      172 SF

      124 Ct Stb1

      CONDOMINIUM OFFICES • 172 SF
      124 Ct Stb1, New Haven, CT 06511-6925
      View Details
    • Value Estimation
      $265,000
      1,300 SF

      934 Grand Ave

      CONDOMINIUM OFFICES • 1,300 SF
      934 Grand Ave, New Haven, CT 06511-4922
      View Details
    • Value Estimation
      $255,000
      2,000 SF

      675 State St

      CONDOMINIUM OFFICES • 2,000 SF
      675 State St, New Haven, CT 06511-6509
      View Details
    • Value Estimation
      $320,000
      3,000 SF

      683 State St

      CONDOMINIUM OFFICES • 3,000 SF
      683 State St, New Haven, CT 06511-6509
      View Details
    • Value Estimation
      $260,000
      2,000 SF

      673 State St

      CONDOMINIUM OFFICES • 2,000 SF
      673 State St, New Haven, CT 06511
      View Details
    • Value Estimation
      $315,000
      3,000 SF

      679 State St

      CONDOMINIUM OFFICES • 3,000 SF
      679 State St, New Haven, CT 06511-6509
      View Details

    Similar Nearby for Sale

    • $11,600,000
      130,000 SF

      Prime New Haven Medical Office Building

      130,000 SF Medical Office Redevelopment Opportunity
      91 Shelton Ave, New Haven, CT 06511
      View Details
    • $729,000
      5,690 SF

      Versatile Mixed-Use 4-Unit Property

      Four-unit property in mixed-use zone, ideal for investors/entrepreneurs.
      396 Whalley Ave, New Haven, CT 06511
      View Details
    • $2,400,000
      8,986 SF

      Downtown New Haven Office Building

      9,000 SF office building in the heart of New Haven.
      54 Wall St, New Haven, CT 06511
      View Details
    • $2,950,900

      Three-Story Commercial Building on Whalley

      Three-story commercial building with income potential on Whalley Avenue.
      376 Whalley Ave, New Haven, CT 06511
      View Details
    • $470,000
      1,470 SF

      Two-Family House Near Yale

      Two-unit property near Yale University with off-street parking.
      39 Winchester Ave, New Haven, CT 06511
      View Details
    • Contact for pricing

      New Haven Land For Sale

      32,000 SF land with mixed-use development potential.
      56 Wallace St, New Haven, CT 06511
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      200,000 SF

      East Rock Center: Office & Lab Suites

      New Haven, CT: Modernized historic building, flexible spaces.
      285 Nicoll St, New Haven, CT 06511
      View Details
    • $29 SF/Yr
      7,482 SF

      Seven-Story Office/Medical Building For Rent

      270,000 SF office/medical building with on-site amenities, ample parking.
      1 Long Wharf Dr, New Haven, CT 06511
      View Details
    • Contact for pricing
      150,000 SF

      Long Wharf Drive Office Space

      Office space available for lease on Long Wharf Drive.
      555 Long Wharf Dr, New Haven, CT 06511
      View Details
    • $500 /Mo
      500 SF

      Historic Office Space For Lease

      Individual office spaces available in historic New Haven location.
      389 Whitney Ave, New Haven, CT 06511
      View Details
    • Contact for pricing
      60,000 SF

      New Haven Creative Office Space

      Flexible Suites, 6,000-60,000 SF
      375 Winchester Ave, New Haven, CT 06511
      View Details
    • Contact for pricing
      6,075 SF

      Shelton Avenue Flex/Industrial/Office Space

      Flex, industrial, and office spaces available for rent.
      71-91 Shelton Ave, New Haven, CT 06511
      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.
    671 State St
    New Haven, CT 06511-6509
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.