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$7,900,000
Est. payment /mo
12,327 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 12,327 sqft
Price per Sqft $640
MLS Listing ID 24199078
Year Built 1900
Annual Tax Amount $42,998
Lot Size 2.020 Acres
Property Description
62 Cove Street offers a rare opportunity to acquire a fully operational, turnkey waterfront event and banquet venue in New Haven, Connecticut - together with the underlying real estate. Positioned at the tip of a peninsula with sweeping ocean views and direct water frontage protected by a stone breakwater, the property combines a proven hospitality business with an incomparable location. The offering includes the real property, all buildings, and the associated event and catering operation - providing a buyer with an immediate, income-producing asset as well as significant upside through expanded programming, private events, weddings, and food & beverage service. The business carries an established booking queue extending through 2027, representing significant contracted future revenue already in place. A new operator steps into this pipeline on day one, with tremendous additional upside to optimize operations, grow gross revenue and profitability, and/or reposition the property for a range of potential redevelopment opportunities. Set on 2.02 acres at the water's edge, 62 Cove Street is a multi-building waterfront property purpose-built for events, banquets, and hospitality. The 6,221-square-foot main building (the Inn) houses a full banquet space, complemented by additional structures used for event support, administrative/food operations, service, and storage. The 6,105-square-foot adjacent building (the Ballroom)
Location
State CT
County New Haven
Zoning RS2
Interior
Heating Heat Pump, Hot Water
Cooling Central Air, Ductless, Heat Pump
Exterior
Utilities Available Electric, Gas
Roof Type Asphalt Shingle
Building
Lot Description Sloping Lot
Sewer Public Sewer Connected
Water Public Water Connected
Others
Virtual Tour https://www.hommati.com/3DTour-AerialVideo/unbranded/Cove-St-New-Haven-Ct-06512--HPI76488082
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Listed by Michael Barbaro • Huntsman,Meade & Partners Comp
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