433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511

433 Chapel St, 56 Wallace Street, and 64 Wallace Street New Haven, CT 06511

433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511
433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511
FOR SALE
Property Type:
Commercial Land Development
Amount:
Please Call Broker for Price

Last Verified:
Apr 25, 2024

Highlights

  • 32,000 SF building with potential for mixed-use development
  • Rich history dating back to 1870, adding unique character
  • Zoned IL, offering flexibility for diverse commercial uses
  • Prime location in the vibrant New Haven area
  • Rare opportunity to acquire a distinctive property with historical significance
  • Ideal for investment portfolio diversification
  • Strategic potential for a range of commercial endeavors
  • Valuable package includes 56 & 65 Wallace St, enhancing scope

Description

Discover a compelling investment opportunity with this historic property at 433 Chapel St. Boasting a 32,000 SF building, 1 unit, and a rich heritage dating back to 1870, this versatile space is ideal for innovative mixed-use concepts or land development. It is currently improved with a 6-story industrial/commercial building built in 1870 per town records containing 32,000 gross building square feet and 9,380 gross square feet of living area. The Highest and Best Use is concluded to be a conversion to apartments in conformance with applicable building codes. The condition of the improvements is rated fair. The building was called the M. Armstrong and Company Carriage Factory. The building was listed on the National Register of Historic Places on August 31, 2011, as a historic carriage factory. It is one of a small number of surviving 19th-century carriage factories in a city that once had more than 50 such businesses. Zoned IL, the property offers strategic potential for a range of commercial endeavors. Take advantage of this rare chance to acquire a distinctive property in the vibrant New Haven area, and unlock its full potential for your investment portfolio.

Located in the Mill River Area in the vibrant city of New Haven, this property offers a prime investment opportunity in a bustling commercial hub. Surrounding the area are renowned landmarks such as Yale University, renowned for its prestigious academic environment, and the Yale-New Haven Hospital, a leading medical institution. The district is also home to a variety of upscale dining options, chic boutiques, and cultural attractions, providing an enticing mix of amenities for potential tenants. With its strategic placement near major highways and public transportation, the property presents an ideal location for office or land investors seeking to capitalize on the dynamic energy and convenience of the urban landscape. Positioned near The Wooster Square Historic District it is an architecturally distinguished neighborhood located east of downtown New Haven. During the mid-19th century, it was a fashionable residential area which ship captains and wholesale grocers found convenient to their places of business and home of historically sought out destinations like Frank Pepe's and Sally's Apizza


Year Built: 1870
Building Size: 9380sq ft
Lot Size: 0.59 acres


Documents

Offering Memorandum (P)
New Haven - 433 Chapel St 56 65 Wallace St Narrative Appraisal Income Sales Approach retrospective 3-1-19 Final (2).pdf
Brochure (P)

Map of 433 Chapel St, 56 Wallace Street, and 64 Wallace Street, New Haven, CT, 06511

Presented by:
Scalzo Commercial & New Development

Request additional information
Paul Scalzo


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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.