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1226 Chapel St
0.21 Acres of Commercial Land Offered at $1,200,000 in New Haven, CT 06511
Investment Highlights
- Irreplaceable Location
- Flexible Zoning - BD1 zoning allows for a variety of uses including multifamily, retail, restaurants, office, and medical.
- Proximity to Yale, Broadway Shops, Downtown New Haven, and Yale New Haven Hospital
Executive Summary
1226 Chapel Street offers a unique investment opportunity and irreplaceable real estate, currently leased to a busy Indian restaurant until February 2025. The restaurant generates consistent cash flow with a monthly rent of $4,400, plus additional contributions for taxes and insurance. Located in a prime area within walking distance of Yale University and key retail destinations, the property benefits from high foot traffic and proximity to one of the nation's top universities, making it an ideal location for future redevelopment.
The site is zoned BD1 (Business District 1) with a 6 FAR, allowing for up to 54 residential units or a mixed-use development. The property is well-positioned for an apartment or residential project, similar to nearby developments like The Novella. The redevelopment will require the buyer to secure a demo permit for the existing building.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Price | $1,200,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| Sale Conditions | Redevelopment Project | Proposed Use | Mixed Use |
| No. Lots | 1 | Total Lot Size | 0.21 AC |
| Price | $1,200,000 |
| Sale Type | Investment |
| Sale Conditions | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Mixed Use |
| Total Lot Size | 0.21 AC |
1 Lot Available
Lot
| Price | $1,200,000 | Lot Size | 0.21 AC |
| Price Per AC | $5,714,286 |
| Price | $1,200,000 |
| Price Per AC | $5,714,286 |
| Lot Size | 0.21 AC |
The site is zoned BD1 (Business District 1) with a 6 FAR, allowing for up to 54 residential units or a mixed-use development.
Description
1226 Chapel Street offers a unique investment opportunity and irreplaceable real estate, currently leased to a busy Indian restaurant until February 2025. The restaurant generates consistent cash flow with a monthly rent of $4,400, plus additional contributions for taxes and insurance. Located in a prime area within walking distance of Yale University and key retail destinations, the property benefits from high foot traffic and proximity to one of the nation's top universities, making it an ideal location for future redevelopment.
zoning
| Zoning Code | BD-1 (Business D-1 Districts—Central Business/Residential.) |
| BD-1 (Business D-1 Districts—Central Business/Residential.) |
Contacts
-
Edward Jordan -
Bradley Balletto -
Rich Edwards -
Jeff Wright -
Chris Bierezowiec -
Northeast Private Client Group
Presented by
1226 Chapel St
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