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1226 Chapel St
New Haven, CT 06511
Land For Sale
·
0.21 AC
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
Northeast Private Client Group is pleased to present 1226 Chapel Street, a development site in New Haven, across from The Novella.
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.
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.
Property Facts
1 Lot Available
Lot
| Price | $1,642,548 CAD | Lot Size | 0.21 AC |
| Price Per AC | $7,821,657.32 CAD |
| Price | $1,642,548 CAD |
| Price Per AC | $7,821,657.32 CAD |
| 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.
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