The Kellogg Building Listing Details & Market Data

N/ANortheast Private Client Group is pleased to present The Kellogg Building, located in downtown New Haven. The property consists of 3 parcels, 7 Elm Street, 506 State Street and 510 State Street. In total, the property currently features a 12,686 SF mixed-use property set on 0.25 acres, comprised of 4,999 SF of ground floor retail, two office suites over 3,248 SF on the second floor, one (1) 3-Bedroom 1.5 Bathroom apartment on the third floor, and one 2-Bedroom 1-Bath apartment on the fourth floor. Both apartments are roughly 2,220 SF. The property also features a 4,999 SF basement and a 5,227 SF off-street parking lot with 12 duplex parking spaces for 24 cars. Currently, the entire first floor is leased to Kumo Restaurant through 2025, including two five-year options. One office suite is currently leased through 2026. Both apartments are currently occupied. The Property offers a new owner the opportunity to purchase a prime piece of real estate on one the most desirable corners in the most attractive & growing markets in the State of Connecticut. In its current use, the property has valuable retail/restaurant and office space and two unique and spacious luxury apartments. A new owner has the flexibility to operate the property in its current mixed-use capacity but can also convert the existing office space to apartments, add more multifamily to the existing structure or redevelop the site into a larger multifamily/mixed-use property. It is also ideal for an owner-occupant. The property is uniquely positioned to capitalize on the continued strength of Yale University and Yale New Haven Hospital, as well as the burgeoning life science industry in New Haven and the other major redevelopments underway in the neighborhood.