20 Gorham Ave - Value-Add Mixed-Use with Redevelopment Opp
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20 Gorham Ave - Value-Add Mixed-Use with Redevelopment Opp
27,637 SF Speciality Building Offered at £860,695 in Hamden, CT 06514
Investment Highlights
- 20 Gorham Ave is a value-add redevelopment opportunity in a densely populated residential area.
- T5 zoning allows for higher-density, mixed-use buildings such as retail, offices, and apartments.
- Previously the home of College of Art, the four-building property has over 27,637 square feet of mixed-use space.
- Yale, Southern Connecticut State University, and Albertus Magnus College are drivable from the property.
Executive Summary
20 Gorham Avenue, Hamden, CT. Featuring 24,247 SF of currently artistic use buildings. The 1.63 acre property is equally suitable for a user or developer, with value-add potential. Comprised of four buildings located in a suburban neighborhood but adjacent to a busy commercial sector. Parking is directly adjacent to the buildings. Walking distance to Putnam Plaza, Chimney Square and The Farmington Canal Heritage Trail. Situated just north of New Haven (pop. 124,000) and numerous cultural resources like Yale's Art Gallery, museums, libraries and theaters. Within commuting distance to Hartford (38 miles), New York City (78 miles), and Boston (154 miles) by car, bus, or train. 24,247 SF Commercial. Comprised of art rooms, offices, studios, gathering space & library. RTU’s replaced recently. Highway access - Rt 10, I-91 & I-95. Prominent location adjacent to Dixwell Avenue. Modern functionality and layouts. Redevelopment potential.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Auction Instructions
- Financing - Lender Quote
Taxes & Operating Expenses (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Taxes & Operating Expenses (Actual - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £860,695 | Lot Size | 0.99 AC |
| Price Per SF | £31 | Building Size | 27,637 SF |
| Sale Type | Owner User | Number of Floors | 3 |
| Sale Conditions | Tenants option to buy property | Year Built | 1981 |
| Property Type | Speciality | Tenancy | Single |
| Property Subtype | Schools | Parking Ratio | 2.17/1,000 SF |
| Building Class | B |
| Price | £860,695 |
| Price Per SF | £31 |
| Sale Type | Owner User |
| Sale Conditions | Tenants option to buy property |
| Property Type | Speciality |
| Property Subtype | Schools |
| Building Class | B |
| Lot Size | 0.99 AC |
| Building Size | 27,637 SF |
| Number of Floors | 3 |
| Year Built | 1981 |
| Tenancy | Single |
| Parking Ratio | 2.17/1,000 SF |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £515,509 | |
| Land Assessment | £233,600 | Total Assessment | £749,110 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£233,600
Improvements Assessment
£515,509
Total Assessment
£749,110
zoning
| Zoning Code | T5 & R5 (R5, higher density residential development (20 Gorham Ave), and T5, allowing higher density mixed-use buildings. (10-14 Gorham Ave & 44 Circular Ave)) |
| T5 & R5 (R5, higher density residential development (20 Gorham Ave), and T5, allowing higher density mixed-use buildings. (10-14 Gorham Ave & 44 Circular Ave)) |
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20 Gorham Ave - Value-Add Mixed-Use with Redevelopment Opp
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