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Land Build Out 506,700 sf 88 York St 15,120 SF Retail Building New Haven, CT 06511 For Sale
Investment Highlights
- Adjacent to Yale Hospital Main Entrance at 20 York
- Two Blocks from the Yale University Campus, Yale Repertory Theater, Yale Museums and New Haven's "Chapel Street Dining and Entertainment District"
- Adjacent to New Haven's Largest Parking Garage
- One block form the new David Geffen Yale Drama and Performing Arts Center, at York and Crown, currently in pre construction
Executive Summary
July 28, 2026 BRING OFFERS
Development Site:
Build-Out 405,370 SF as of right
Build Out with IZ, Inclusionary Zoning 506,712 SF with bonus floor area
See May 2026 Notes Here, Updated May 26, 2026 below for the update on the current Inclusionary Zoning Valuation.
A "Buy-In Opportunity" is available at 1/3 the property value.
A "Cash Infusion Opportunity" is available at $1.5 million, to include preliminary entitlements, with an additional refundable 10% deposit based upon the 2026 Valuation.
Value without Approvals $38. per SF acquisition rate per New Haven CBD comps
Entitled Rate: $60. per SF acquisition rate per New Haven CBD comps
As of Right Floor Area allowed: 405,370 sf
With Inclusionary Zoning: 506,712.5 sf x $38. per foot = $19,255,075. Value as of May 2026 for the property without approvals
With Preliminary or Full Entitlements the property with the maximum envelope is valued at $60. per sf: 506,712.5 sf x $60. = $30,402,750.
Preliminary approvals are available with a contract to purchase and a nonrefundable deposit.
Walgreens will stay in any new development with certain agreed upon conditions. The JV Partners' Value Proposition has been completed and updated as of May 2026.
Buyers must contact the Listing Owner, Developer, K. Grace, Architect, 203-571-2171, for more information regarding conditions for development per recommended conditions and for Walgreens review.
OM https://heyzine.com/flip-book/210a79f468.html
Development Site:
Build-Out 405,370 SF as of right
Build Out with IZ, Inclusionary Zoning 506,712 SF with bonus floor area
See May 2026 Notes Here, Updated May 26, 2026 below for the update on the current Inclusionary Zoning Valuation.
A "Buy-In Opportunity" is available at 1/3 the property value.
A "Cash Infusion Opportunity" is available at $1.5 million, to include preliminary entitlements, with an additional refundable 10% deposit based upon the 2026 Valuation.
Value without Approvals $38. per SF acquisition rate per New Haven CBD comps
Entitled Rate: $60. per SF acquisition rate per New Haven CBD comps
As of Right Floor Area allowed: 405,370 sf
With Inclusionary Zoning: 506,712.5 sf x $38. per foot = $19,255,075. Value as of May 2026 for the property without approvals
With Preliminary or Full Entitlements the property with the maximum envelope is valued at $60. per sf: 506,712.5 sf x $60. = $30,402,750.
Preliminary approvals are available with a contract to purchase and a nonrefundable deposit.
Walgreens will stay in any new development with certain agreed upon conditions. The JV Partners' Value Proposition has been completed and updated as of May 2026.
Buyers must contact the Listing Owner, Developer, K. Grace, Architect, 203-571-2171, for more information regarding conditions for development per recommended conditions and for Walgreens review.
OM https://heyzine.com/flip-book/210a79f468.html
Data Room Click Here to Access
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$440,000
|
$29.10
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$440,000
|
$29.10
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $440,000 |
| Annual Per SF | $29.10 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $440,000 |
| Annual Per SF | $29.10 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
15,120 SF
Building Class
C
Year Built
2001
NOI
$464,845
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.55 AC
Zoning
BD - See OM below under "Links"
Maximum Zoning, New Haven
FAR 6.0
All Category Use Groups
Bonus Floor Area Available, see the New Haven Zoning Resolution
Parking
73 Spaces (0.18 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 15,120 SF
- -
- Triple Net
- Sep 2051
Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 15,120 SF | - | Triple Net | Sep 2051 |
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Moderately bikeable
70/100
Nearby Major Retailers
Property Taxes
| Parcel Number | NHVN-000262-000202-000200 | Improvements Assessment | $2,235,170 (2025) |
| Land Assessment | $564,830 (2025) | Total Assessment | $2,800,000 (2025) |
Property Taxes
Parcel Number
NHVN-000262-000202-000200
Land Assessment
$564,830 (2025)
Improvements Assessment
$2,235,170 (2025)
Total Assessment
$2,800,000 (2025)
Contact
-
Katherine Grace -
KP Grace LLC, dba AARIIA
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Land Build Out 506,700 sf | 88 York St
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