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

    859 Congress Ave New Haven, CT 06519-1248

    • Showrooms
    • 2,742 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2023
    $1,500,000
    Value Estimations
    $1,480,000
    Show details
    Cap Rate Potential
    2.5%
    Showrooms
    Location Intelligence
    Property ID
    US15-1348178
    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

    • Clark-Son Co Inc / Auto Electrical Service

    Property Details for 859 Congress Ave

    Year built
    1979
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.15 lot acres
    Property size
    2,742 SF
    Zone code
    BB
    Property type
    Showrooms
    APN
    NHVN M:310 B:0127 L:03400
    APU
    NHVNM310B0127L03400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,490,000
      ML approach
      $1,435,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9448
    Latitude
    41.2989
    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
    $5,841
    $45,640
    $111,370
    $157,010
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,155,000
      6,601 SF

      680 Howard Ave

      SHOW ROOM, WAREHOUSE • 6,601 SF
      680 Howard Ave, New Haven, CT 06519
      View Details
    • Value Estimation by Request
      1,820 SF

      659 Washington Ave

      SHOW ROOM, WAREHOUSE • 1,820 SF
      659 Washington Ave, New Haven, CT 06519-1912
      View Details
    • Value Estimation by Request
      3,997 SF

      86 2nd St

      SHOW ROOM, WAREHOUSE • 3,997 SF
      86 2nd St, New Haven, CT 06519-2640
      View Details
    • Value Estimation by Request
      500 SF

      670 Ella T Grasso Blvd

      SHOW ROOM, WAREHOUSE • 500 SF
      670 Ella T Grasso Blvd, New Haven, CT 06519-1810
      View Details
    • Value Estimation by Request
      6,048 SF

      604 Ella T Grasso Blvd

      SHOW ROOM, WAREHOUSE • 6,048 SF
      604 Ella T Grasso Blvd, New Haven, CT 06519-1833
      View Details
    • Value Estimation by Request
      1,280 SF

      155 Spg St

      SHOW ROOM, WAREHOUSE • 1,280 SF
      155 Spg St, New Haven, CT 06519
      View Details

    Similar Nearby for Sale

    • $449,000

      Spacious Multi-Unit Home For Sale

      Three-unit property with two bedrooms and one bathroom each.
      148 Plymouth St, New Haven, CT 06519
      View Details
    • $635,000

      New Haven Multifamily Investment Opportunity

      Rehabbed multifamily in New Haven with upside potential.
      467 Columbus Ave, New Haven, CT 06519
      View Details
    • $420,000

      Updated Two-Family Home, New Haven

      Two-family property with updated kitchens and bathrooms in New Haven.
      72 4Th St, New Haven, CT 06519
      View Details
    • $327,500

      Well-Maintained Two-Family Home

      Two-family property in New Haven's Hill neighborhood, convenient location.
      46 Liberty St, New Haven, CT 06519
      View Details
    • New
      $435,000
      Pending

      Winthrop Avenue Multifamily Investment Property

      Well-maintained, renovated three-unit property near Frontage Road in New Haven.
      129 Winthrop Ave, New Haven, CT 06519
      View Details
    • $495,000
      3,747 SF

      Renovated Multi-Family Home, New Haven

      Recently renovated multi-family home with seven bedrooms in New Haven.
      31 Greenwood St, New Haven, CT 06519
      View Details

    Similar Nearby for Lease

    • $1,700 /Mo
      9,000 SF

      New Retail Space Near I-95

      1,000 SF retail space ideal for convenience store or deli.
      151 Howard Ave, New Haven, CT 06519
      View Details
    • $1,700 /Mo

      New Haven Apartment For Rent

      Comfortable 2-bedroom apartment near downtown New Haven.
      203 West St, New Haven, CT 06519
      View Details
    • $2,050 /Mo

      Renovated Three-Bedroom Apartment For Rent

      Recently renovated 3-bedroom apartment with modern finishes and parking.
      13 Lines St, New Haven, CT 06519
      View Details
    • $1,875 /Mo

      New Construction Near Yale Hospital

      New construction duplex near Yale New Haven Hospital and train.
      232 Columbus Ave, New Haven, CT 06519
      View Details
    • $2,100 /Mo

      Remodeled Three-Bedroom Apartment Available

      Bright, remodeled 3-bedroom apartment with in-unit laundry and porch.
      16 Vine St, New Haven, CT 06519
      View Details
    • $1,900 /Mo

      Modern Three-Bedroom Apartment Available

      Modern, renovated three-bedroom apartment with spacious living areas.
      46 Dewitt St, New Haven, CT 06519
      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.
    859 Congress Ave
    New Haven, CT 06519-1248
    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.