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Additional details
$ 1,395,000
Est. payment /mo
Active
423 Whalley Avenue New Haven, CT 06511
6 Baths
6,165 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,165 sqft
Price per Sqft $226
MLS Listing ID 24154449
Full Baths 5
Half Baths 1
Year Built 1976
Annual Tax Amount $18,516
Lot Size 10,890 Sqft
Property Description
Prime Mixed Use Investment Opportunity in the Heart of New Haven! ***Sale is for the Real Estate only not the business*** Welcome to 423 Whalley Avenue, a well maintained 6 unit mixed use property offering exceptional income potential and strong value add upside. Ideally situated on the corner of Whalley Avenue and Ellsworth Avenue, this 6,100+ sq ft asset features 4 residential apartments and 2 commercial units, currently occupied by the long established Damato's Seafood Restaurant. The residential unit mix includes: * Two (2) - 2BR / 1BA units * One (1) - 3BR / 1BA unit * One (1) - 4BR / 2BA unit (vacant, offering immediate owner user or rent up opportunity) All residential units-aside from the top floor 4BR-are fully occupied, with below market rents providing substantial room for revenue growth. The commercial spaces are fully leased and operating as Damato's Restaurant, a long time neighborhood favorite. Damato's will do a lease back on the space they currently occupy. With a pro forma NOI supporting a potential 7% CAP rate, this property offers both stability and future upside for investors. Additional amenities include a 3 car detached garage, plus a fenced in rear parking lot providing secure parking for tenants and commercial patrons. Whether you're expanding your portfolio or seeking a high performing mixed use asset, 423 Whalley Avenue delivers location, scale, and immediate value add potential in one of New Haven's most active corridors.
Location
State CT
County New Haven
Zoning BA
Interior
Heating Hot Water
Cooling Central Air, Window Unit
Exterior
Utilities Available Electric, Gas, Cable, Fire Suppression System
Roof Type Asphalt Shingle
Building
Lot Description Corner Lot, Dry, Level Lot
Story 3
Foundation Concrete
Sewer Public Sewer Connected
Water Public Water Connected
Listed by Joe Scarpellino • Coldwell Banker Realty