Add Listing
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

    879 Congress Ave New Haven, CT 06519-1248

    • Industrial land
    • 4,920 SF
    • 0.16 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2023
    $1,100,000
    Value Estimations
    $1,070,000
    Show details
    Cap Rate Potential
    4.5%
    Industrial land
    Location Intelligence
    Property ID
    US15-0854572
    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

    • Industrial land

    Property Details for 879 Congress Ave

    Year built
    2010
    Construction
    MASONRY/CONCRETE MASONRY UNITS (CMUS)
    Lot size
    0.16 lot acres
    Property size
    4,920 SF
    Zone code
    BB
    Property type
    Industrial land
    APN
    NHVN M:310 B:0127 L:03600
    APU
    NHVNM310B0127L03600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,045,000
      ML approach
      $1,045,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $785,000
      6.5%
      $725,000
      7%
      $675,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9453
    Latitude
    41.2987
    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
    $1,711
    $45,990
    $0.00
    $45,990
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.28 Acres

      440 Ella T Grasso Blvd

      INDUSTRIAL - VACANT LAND • 0.28 Acres
      440 Ella T Grasso Blvd, New Haven, CT 06519-1804
      View Details
    • Value Estimation by Request
      0.20 Acres

      50 Printers Ln

      INDUSTRIAL - VACANT LAND • 0.20 Acres
      50 Printers Ln, New Haven, CT 06519-1814
      View Details
    • Value Estimation by Request
      0.75 Acres

      109 Barclay St

      INDUSTRIAL - VACANT LAND • 0.75 Acres
      109 Barclay St, New Haven, CT 06519-2032
      View Details
    • Value Estimation by Request
      1.46 Acres

      47 Longhini Ln

      INDUSTRIAL - VACANT LAND • 1.46 Acres
      47 Longhini Ln, New Haven, CT 06519-1820
      View Details
    • Value Estimation by Request
      3.67 Acres

      330 Ella T Grasso Blvd

      INDUSTRIAL - VACANT LAND • 3.67 Acres
      330 Ella T Grasso Blvd, New Haven, CT 06519-2526
      View Details
    • Value Estimation by Request
      0.60 Acres

      20 Morris St

      INDUSTRIAL - VACANT LAND • 0.60 Acres
      20 Morris St, New Haven, CT 06519-2508
      View Details

    Similar Nearby for Sale

    • $295,000

      New Haven Specialty Property

      Specialty property available for sale in New Haven, Connecticut.
      201 Portsea St, New Haven, CT 06519
      View Details
    • Contact for pricing
      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
    • New
      $349,995
      Pending

      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
    • $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
    • Contact for pricing
      12,544 SF

      New Haven Warehouse Opportunity

      12,544 SF warehouse/industrial property for sale in New Haven.
      620 Ella T Grasso Blvd, New Haven, CT 06519
      View Details
    • $469,900

      Updated Multifamily in City Point

      Updated multifamily property with strong rental income in City Point.
      81 S Water 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
    • $1,700 /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
    • $2,150 /Mo

      Residential Income Property For Rent

      Residential income property available for rent in New Haven.
      74 4Th St, New Haven, CT 06519
      View Details
    • $2,802 /Mo

      Luxury Apartments in New Haven

      Modern apartments near Yale with luxury amenities and various floorplans.
      9 Tower Ln, New Haven, CT 06519
      View Details
    • $2,500 /Mo

      Renovated Townhouse Near Yale Campus

      Spacious, renovated 3-bedroom townhouse near Yale. Heat and hot water included.
      46 Orchard 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.
    879 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.
    Sign Up Successful!
    You now have access to more from Realmo!