285 Quinnipiac Avenue
Value-add Multifamily in New Haven, Connecticut
Marketing description
Well-positioned commercial property located along Quinnipiac Avenue in New Haven, offering strong visibility and accessibility within a well-trafficked corridor. The property consists of a multi-tenant building designed to accommodate a range of professional or service-oriented uses, making it suitable for both owner-users and investors.
This opportunity is ideal for an owner-occupant looking to establish or expand their business while benefiting from additional rental income. Alternatively, investors can capitalize on the property's flexible layout and leasing potential by attracting multiple tenants across various industries.
The building is currently configured to support multiple suites, allowing for diversified tenancy and income streams. Existing occupancy provides immediate cash flow, while remaining or future vacancy offers upside through lease-up or repositioning strategies.
The property benefits from dedicated on-site parking, ensuring convenience for both tenants and visitors, along with easy access to major roadways and surrounding commercial areas.
Recent improvements and ongoing maintenance contribute to the property's functionality and long-term value, making it a compelling investment in a growing New Haven submarket.
Investment highlights
- Opportunity to increase average rents by approximately $300 per unit
- Pro forma cap rate of approximately 8.81%
- Strong in-place income with immediate upside potential
- Ability to enhance cash flow through rent adjustments and lease optimization
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