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Sovereign Bank 215 Grand Ave

12,292 SF Retail Building New Haven, CT 06513 $2,500,000 ($203/SF) 5% Cap Rate

Executive Summary

Free standing bank building located at the corner of Grand Avenue & Ferry Street in New Haven. 20,000 + square foot corner lot at street lights with with 2 bus stops. Great pedestrian traffic and vehicle traffic. Presently occupied by Santander Bank.

Financial Summary (Actual - 2018)

Annual Annual Per SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income $125,000 $10.17

Financial Summary (Actual - 2018)

Gross Rental Income
Annual -
Annual Per SF -
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual -
Annual Per SF -
Net Operating Income
Annual $125,000
Annual Per SF $10.17

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
12,292 SF
Building Class
C
Year Built
1915
Price
$2,500,000
Price Per SF
$203
Cap Rate
5%
NOI
$125,000
Tenancy
Single
Building Height
3 Stories
Building FAR
0.61
Lot Size
0.46 AC
Opportunity Zone
Yes
Zoning
B
Parking
10 Spaces (0.81 Spaces per 1,000 SF Leased)
Frontage
1 FT on Grand Avenue

Amenities

  • Banking
  • Corner Lot
  • Signage
  • Signalized Intersection
  • Tenant Controlled HVAC
  • Air Conditioning

About 215 Grand Ave , New Haven, CT 06513

The Grand Brick building is set on a corner lot in the Fairhaven neighborhood of New Haven. There is plenty of pedestrian traffic and its proximity to the highway leads itself to great vehicular traffic. There is a private parking lot behind the property with plenty of on street parking nearby. There is also a drive through. Public transportation, schools, shopping, churches, parks, playgrounds, library, and community facilities are all within easy reach of the subject property. The area is serviced by U.S. Highway 6 and Interstate 91. The area features beautiful parks and Quinnipac River. This Santandar branch is a great building in a high visibility location.

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease End
  • Santander
  • -
  • 12,292 SF
  • -
  • Jun 2020
Tenant Industry SF OCCUPIED RENT/SF Lease End
Santander - 12,292 SF - Jun 2020
Walk Score ®
Very Walkable (87)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

CTown
Santander
The Pantry
United Rentals

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
NHVN-000167-000757-001800
Land Assessment
$275,030 (2024)
Improvements Assessment
$1,064,910 (2024)
Total Assessment
$1,339,940 (2024)
  • Listing ID: 16476243

  • Date on Market: 6/28/2019

  • Last Updated:

  • Address: 215 Grand Ave, New Haven, CT 06513

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