423 Whalley Avenue

About Property

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.
Listed by Coldwell Banker Realty, Joe Scarpellino. Data sourced from SmartMLS