1379 Chapel StNew Haven, CT 06511

Property Details for 1379 Chapel St

Year built

1900

Construction

FRAME

Lot size

0.11 AC

Property size (Sq ft)

4,411 SF

Zone code

BA

Property type

Other commercial real estate

Property subtype

Showrooms

APN

NHVN M:316 B:0244 L:03500

APU

NHVNM316B0244L03500

Description

This exceptional 7-unit mixed-use investment property in New Haven, CT, presents a compelling opportunity for discerning investors. Located at 1379 Chapel St, this 4,411 square foot building, constructed in 1900, sits on a 4,720 square foot lot and boasts a current 100% occupancy rate, generating a strong net operating income (NOI) of $105,540. The property features a gross lease structure with a remaining lease term of 3 years for a long-term retail tenant. Zoned for business use (BA), this well-maintained building offers a proven track record of consistent tenancy, making it a solid income-generating asset. The asking price is $1,200,000, representing a price per square foot of $272.05 and an attractive 8.80% cap rate. Situated in a vibrant area near Yale University, Elm City Market, and the Chapel Street shopping district, this property benefits from a desirable location and high demand for rental units. The building's prime location, across from Yale New Haven Hospital, ensures consistent tenant interest and strong rental income potential. This is a turnkey investment opportunity in a thriving commercial real estate market.

Location Insight

City

New Haven

County

New Haven

State

Connecticut

Latitude

41.3109

Longitude

-72.941

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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