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105 Derby AveNew Haven, CT 06511

Laundromat & Restaurant, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use property in New Haven County boasts a thriving laundromat business generating substantial income. The 2,563 square foot building sits on a 0.46-acre lot and includes 15 parking spaces. Currently, a portion of the building (800 minimum divisible square feet) is leased to a takeout restaurant, adding to the property's overall revenue stream. The laundromat features high-end stainless steel, heavy-duty washers and dryers, ensuring efficient operation and strong cash flow. The property's location just one mile from Yale University contributes to its high occupancy and strong tenant demand. Financial records indicate an annual gross income of $187,200 from the laundromat alone. After deducting expenses (property tax: $12,884; gas: $8,040; electricity: $8,220; water: $3,720; dumpster: $1,800; landscaping/snow: $600; insurance: $3,260), the net operating income (NOI) stands at $148,676, representing an 11% capitalization rate. The existing restaurant lease presents an opportunity to further increase profitability, potentially boosting the cap rate to 12.5%. This property offers a compelling investment opportunity with strong current income and significant upside potential. The densely populated neighborhood ensures consistent demand for both the laundromat and restaurant services. This is a rare chance to acquire a well-established, high-performing commercial property in a prime location.

Highlights

  • Restaurant property totaling 2,563 square feet, with 800-square-foot minimum divisible space.
  • Multi-tenant property with 15 parking spaces on a 0.46-acre lot in New Haven County.
  • Includes a laundromat generating $187,200 annual gross income and a 500+ square foot restaurant kitchen.
  • Net operating income (NOI) of $148,676, resulting in an 11% cap rate.

Property Details for 105 Derby Ave

Property type
Restaurants
RSF (Rentable sq. ft)
2,563 SF

Unit(s) available at that property

Space
Available Space
Size
800 SF

Location Insight

City
New Haven
County
New Haven
State
Connecticut
Latitude
41.31085902
Longitude
-72.94958878
105 Derby Ave, New Haven, Connecticut

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105 Derby Ave
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