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$1,395,000 Just Listed

  • For Sale
  • Active
  • Commercial
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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.

Full Property Details for 423 Whalley Ave

General

  • Price: $1,395,000
  • Taxes: (July 2025-June 2026)
  • Status: Active
  • Type: Commercial
  • Source: SMARTMLS
  • MLS ID: 24154449
  • Updated: 3/3/2026
  • Added to Site: 1 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 6
  • Full Bathrooms: 5
  • Half Bathrooms: 1
  • Restrooms: 5

Location

  • County: New Haven
  • Driving Directions: GPS

Heating & Cooling

  • Cooling Type: Central Air, Window Unit
  • Heating Type: Hot Water, Natural Gas
  • Heating Fuel: Natural Gas

Utilities

  • Sewer: Public Sewer Connected
  • Water: Public Water Connected
  • Utility Description: Electric, Gas, Cable, Fire Suppression System

Structural Information

  • Roof: Asphalt Shingle
  • Ceiling Height: 8
  • Stories/Levels: 3
  • Stories in Building: 3
  • Square Feet: 6,165
  • Sq. Ft. Source: Public Records
  • Living Area: 3,965 Sq. Ft.
  • Current Bldg. Use: Mixed Use - Restaurant and Residential
  • Retail: 2,200 Sq. Ft.
  • Year Built: 1976

Unit Information

  • # Tenants: 5

Unit 1

  • Unit Description: 2 Bedrooms
  • Square Feet: 950
  • Total Bathrooms: 1

Unit 2

  • Unit Description: 2 Bedrooms
  • Square Feet: 950
  • Total Bathrooms: 1

Unit 3

  • Unit Description: 4+Bedrooms
  • Square Feet: 1200
  • Total Bathrooms: 2

Unit 4

  • Unit Description: Retail
  • Square Feet: 2200
  • Total Bathrooms: 1
  • Partial Bathrooms: 1

Unit 5

  • Unit Description: 3 Bedrooms
  • Square Feet: 950
  • Total Bathrooms: 1

Lot Features

  • Lot Size (Acres): 0.25
  • Frontage: State Road, Municipal Street
  • Present Use: Mixed Use - Restaurant and Residential
  • Potential Use: Multi Unit Apartments
  • Zoning: BA
  • Lot Description: Corner Lot, Dry, Level Lot

Financial Considerations

  • Assessment Amount: $441,910
  • Tax Year: July 2025-June 2026

Disclosures and Reports

  • Documents Avail.: Environment Site Assess. (Phase 1)
  • Property ID: 1256725
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.

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— 423 Whalley Ave —

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NMLS#: 1598647

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NMLS#: 1598647

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Price & Sales History for 423 Whalley Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/02/2026
Listed
$1,395,000
794.23%
MLS
5/07/1996
Sold
$156,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 423 Whalley Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$18,516
3%
$441,910
—
2023
$18,048
3%
$441,910
—
2023
$17,544
-5%
$441,910
—
2022
$18,524
1%
$441,910
11%
2021
$18,353
1%
$398,580
—
2020
$18,257
2%
$397,320
—
2019
$17,860
—
$397,320
—
2018
$17,860
37%
$397,320
18%
2017
$13,067
-21%
$337,820
-15%
2016
$16,567
—
$398,720
—
2015
$16,567
—
$398,720
—
2014
$16,567
2%
$398,720
—
2011
$16,268
—
$398,720
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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423 Whalley Avenue, New Haven, CT 06511 (MLS# 24154449) is a Commercial property. 423 Whalley Avenue is currently listed for $1,395,000 and was received on March 02, 2026. This property is listed by Joe Scarpellino from our Branford Office.Want to learn more about 423 Whalley Avenue? Do you have questions about finding other Commercial real estate for sale in New Haven? You can browse all New Haven real estate or contact a Coldwell Banker agent to request more information.

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