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    Property profile & analytics

    9 Washington Ave Hamden, CT 06518

    • Office buildings
    • 30,320 SF
    • 1.73 lot acres
    For Lease
    View listing
    $27 SF/Yr
    Last Sale
    May 26, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0064210
    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

    • Hamden Pediatrics / Medical Clinic / Pediatrician
    • Connecticut Orthopaedics / Medical Clinic
    • Eric Fan, M.D LLC / Physician
    • Richard A. Bernstein, MD / Physician
    • Connecticut: Hughes Jennifer / Medical Clinic

    Property Details for 9 Washington Ave

    Year built
    1989
    Construction
    STEEL FRAME
    Lot size
    1.73 lot acres
    Property size
    30,320 SF
    Zone code
    T4T5
    Property type
    Office buildings
    APN
    HAMD M:2630 B:001 L:00-0000
    APU
    HAMDM2630B001L000000

    Description

    This 3-story, Class B medical office building at 9 Washington Ave, Hamden, CT 06518, offers two available suites totaling 3,899 square feet. The building, constructed in 1989, features 35,166 total square feet across 11 suites, situated on a 1.73-acre lot. Individual suites range from a minimum of 1,478 square feet to a maximum contiguous space of 2,421 square feet. Both available suites are located on the second floor and offer elevator access. The building is conveniently located in Hamden's central business district, at the corner of Washington Avenue and Dixwell Avenue, a signalized intersection. This prime location provides easy access to major highways I-91 and Route 15. The building features one elevator and is zoned T4T5. The lease rate is $27 per square foot on a modified gross basis.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,175,000
      6.5%
      $7,545,000
      7%
      $7,005,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,190,000
      Market price range: $2.22M - $4.19M
      AI Estimate
      $6,036,000
      Market price range: $2.35M - $7.52M

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $4,435,000
      COMMERCIAL (GENERAL)
      $3,740,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Hamden
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8984
    Latitude
    41.3838
    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
    $174,049
    $571,060
    $2,516,010
    $3,087,070
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $745,000
      5,114 SF

      4130 Whitney Ave

      OFFICE BUILDING • 5,114 SF
      4130 Whitney Ave, Hamden, CT 06518-1214
      View Details
    • Value Estimation by Request
      1,361 SF

      2519 Whitney Ave

      OFFICE BUILDING • 1,361 SF
      2519 Whitney Ave, Hamden, CT 06518-3021
      View Details
    • Value Estimation
      $1,830,000
      28,800 SF

      2911 Dixwell Ave

      OFFICE BUILDING • 28,800 SF
      2911 Dixwell Ave, Hamden, CT 06518-3195
      View Details
    • Value Estimation by Request
      2,741 SF

      2693 Whitney Ave

      OFFICE BUILDING • 2,741 SF
      2693 Whitney Ave, Hamden, CT 06518-2929
      View Details
    • Value Estimation
      $840,000
      4,579 SF

      4193 Whitney Ave

      OFFICE BUILDING • 4,579 SF
      4193 Whitney Ave, Hamden, CT 06518-1212
      View Details
    • Value Estimation by Request
      2,338 SF

      2529 Whitney Ave

      OFFICE BUILDING • 2,338 SF
      2529 Whitney Ave, Hamden, CT 06518-3021
      View Details

    Similar Nearby for Sale

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    • New
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      Hamden Office Condo For Sale

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    • $1,400,000
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      Two-story commercial building with development potential in high-traffic area.
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    Similar Nearby for Lease

    • $1,875 /Mo
      1,250 SF

      Hamden Commercial Space Available

      Commercial space available for rent in Hamden, Connecticut.
      2558 Whitney Ave, Hamden, CT 06518
      View Details
    • New
      $14 SF/Yr
      1,720 SF

      Hamden Office Space For Lease

      Well-designed office suite with private entrance and ample parking.
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      View Details
    • $7 SF/Yr
      5,603 SF

      Hamden, CT Office Space Available

      Flexible workspace solutions in Hamden, CT.
      2321 Whitney Ave, Hamden, CT 06518
      View Details
    • Contact for pricing
      11,800 SF

      Hamden Office Space: Prime Location

      Downtown Hamden office, high visibility, ample parking.
      2348 Whitney Ave, Hamden, CT 06518
      View Details
    • $1,300 /Mo
      978 SF

      Renovated Office or Retail Space

      Newly renovated office or retail space with modern amenities.
      3000 Dixwell Ave, Hamden, CT 06518
      View Details
    • Contact for pricing
      2,500 SF

      Office Space Available For Rent

      Office space available for rent, offering 2500 square feet.
      2751 Dixwell Ave, Hamden, CT 06518
      View Details
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    9 Washington Ave
    Hamden, CT 06518
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    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
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