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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    86 Spg St New Haven, CT 06519-2339

    • Commercial real estate
    • 4,060 SF
    • 0.13 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2023
    $1,250,000
    Value Estimations
    $1,230,000
    Show details
    Cap Rate Potential
    4.7%
    Commercial real estate
    Location Intelligence
    Property ID
    US15-1015803
    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

    • Madeline's Empanaderia / Restaurant / Take-out & Catering
    • Humble Hustle Foundation / Shopping Center & Mall

    Property Details for 86 Spg St

    Year built
    1920
    Lot size
    0.13 lot acres
    Property size
    4,060 SF
    Zone code
    RM2
    Property type
    Commercial real estate
    APN
    NHVN M:265 B:0035 L:02400
    APU
    NHVNM265B0035L02400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,185,000
      ML approach
      $1,225,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $935,000
      6.5%
      $860,000
      7%
      $800,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9324
    Latitude
    41.2941
    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
    $8,588
    $23,940
    $206,920
    $230,860
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $17,915,000
      190,778 SF

      44 Orange St

      SHOW ROOM, WAREHOUSE • 190,778 SF
      44 Orange St, New Haven, CT 06519
      View Details
    • Value Estimation by Request
      1,706 SF

      46 Prince St Ste, Unit 303

      COMMERCIAL CONDOMINUIM • 1,706 SF
      46 Prince St Ste, New Haven, CT 06519-1600
      View Details
    • Value Estimation by Request
      1,162 SF

      46 Prince St Ste, Unit 404

      COMMERCIAL CONDOMINUIM • 1,162 SF
      46 Prince St Ste, New Haven, CT 06519-1600
      View Details
    • Value Estimation by Request
      1,855 SF

      46 Prince St Ste, Unit 407

      COMMERCIAL CONDOMINUIM • 1,855 SF
      46 Prince St Ste, New Haven, CT 06519-1600
      View Details
    • Value Estimation by Request
      1,678 SF

      46 Prince St Ste 402a

      COMMERCIAL CONDOMINUIM • 1,678 SF
      46 Prince St Ste 402a, New Haven, CT 06519-1600
      View Details
    • Value Estimation by Request
      6,171 SF

      62 Orch St

      COMMERCIAL (GENERAL) • 6,171 SF
      62 Orch St, New Haven, CT 06519-1137
      View Details

    Similar Nearby for Sale

    • $410,000

      New Haven Two-Family Home

      Two-family home in New Haven's Hill neighborhood with potential.
      41 Cassius St, New Haven, CT 06519
      View Details
    • $419,900
      3,105 SF

      New Haven Multifamily Investment Opportunity

      Three-unit property in New Haven's Hill neighborhood, ideal for investors.
      256 Davenport Ave, New Haven, CT 06519
      View Details
    • $295,000

      New Haven Specialty Property

      Specialty property available for sale in New Haven, Connecticut.
      201 Portsea St, New Haven, CT 06519
      View Details
    • $399,000

      Renovated Turnkey Two-Family Property

      Completely renovated two-family property with modern updates and off-street parking.
      72 Daggett St, New Haven, CT 06519
      View Details
    • New
      $349,995
      1,404 SF

      New Haven Multifamily Investment Property

      Fully rented multifamily property near Yale, generating $3,300 monthly income.
      163 West St, New Haven, CT 06519
      View Details
    • $275,000

      Income-Generating Multifamily Property

      Multifamily property with high-yield layout in a prime rental market.
      43 Elliott St, New Haven, CT 06519
      View Details

    Similar Nearby for Lease

    • $10,000 /Mo

      Industrial Land on Ella Grasso

      Industrial land for lease or sale with convenient highway access.
      194 Ella T Grasso Blvd, New Haven, CT 06519
      View Details
    • $1,650 /Mo

      New Haven Two Bedroom Apartment

      Two bedroom apartment for rent in New Haven, CT.
      336 Legion Ave, New Haven, CT 06519
      View Details
    • $2,300 /Mo

      Spacious Three-Bedroom Apartment in New Haven

      Comfortable apartment with updated amenities, convenient to shopping and transportation.
      28 Cassius St, New Haven, CT 06519
      View Details
    • $2,000 /Mo

      New Haven Rental with Laundry

      Conveniently located New Haven apartment with in-unit laundry.
      86 West St, New Haven, CT 06519
      View Details
    • $1,600 /Mo

      New Haven First-Floor Apartment

      Two-bedroom, one-bath apartment with hardwood floors and updated kitchen.
      53 Fl., New Haven, CT 06519
      View Details
    • $1,900 /Mo

      Conveniently Located Multifamily Property

      Multifamily property near I-95, Yale, RT 34, and City Point.
      104 Howard Ave, 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.
    86 Spg St
    New Haven, CT 06519-2339
    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.