Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    71 Leonardo Drive North Haven, CT 6473

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,900,000

    20.40 acres of industrial land in North Haven, CT.

    Type:Commercial/Industrial
    Lot size:
    20.40 Acres
    Added:
    Mar 12, 2026
    Days on Market:
    49
    Last Refresh:
    Apr 5 at 9:04 pm

    Property Features for 71 Leonardo Drive

    General Information

    Standard status
    Active
    Lot size
    20.40 Acres
    Property subtype
    Commercial/Industrial

    We can help!

    Listing Contact
    Jed P. Backus
    Jed P. Backus

    Listing agent Jed P. Backus License #REB.0756620

    Listing office Backus Real Estate

    Listing date Mar 12, 2026

    Source Exitrealty

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Backus Real Estate

    Overview

    Industrial Land with I-91 Visibility

    This 20.40-acre industrial land parcel is located in North Haven, CT, offering visibility from I-91, which allows for on-building signage to enhance brand recognition. The property is less than 9 miles from the I-95 interchange in New Haven. The flexible IL80 zoning accommodates many potential uses. Previously approved for a multi-tenant industrial park, the site can be developed for single or multiple users. Ground lease or build-to-suit proposals are considered for all or portions of the site.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Industrial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8685
    Latitude
    41.3827

    Nearby Similar for Sale

    • $1,325,000
      29,868 SF

      North Haven Industrial Investment Opportunity

      29,868 SF industrial property on 2 acres for sale.
      59 Old Broadway E, North Haven, CT 06473
      View Details
    • $550,000
      2,052 SF

      North Haven Commercial Flex Space

      2052 sqft flex space with high visibility and easy access.
      157 Washington Avenue, North Haven, CT 06473
      View Details
    • $899,999
      9,774 SF

      Corner Lot Office Building

      Office building with remodel, parking, and income potential.
      410 State Street, North Haven, CT 06473
      View Details
    • $550,000
      2,052 SF

      High Visibility Building on Washington

      2052 SF building with overhead doors and parking.
      157 Washington Ave, North Haven, CT 06473
      View Details
    • $550,000
      2,052 SF

      High Visibility Building on Washington

      2052 sqft building with overhead doors and ample parking.
      157 Washington Avenue, North Haven, CT 06473
      View Details
    • $899,999
      9,774 SF

      Corner Lot Office Building

      Commercial office building with remodel, parking, and income potential.
      410 State Street, North Haven, CT 06473
      View Details
    • $1,995,000
      47,975 SF

      North Haven Commercial/Industrial Building

      47,000 SF mixed-use building on 6.8-acre lot.
      118 Quinnipiac Avenue, North Haven, CT 06473
      View Details
    • $1,325,000
      29,868 SF

      North Haven Industrial Investment Opportunity

      29,868 SF industrial property on 2.0 acres for sale.
      59 Old Broadway East, North Haven, CT 06473
      View Details
    • $1,325,000
      29,868 SF

      North Haven Industrial Investment Opportunity

      Industrial property in North Haven, CT, near major highways.
      59 Old Broadway E, North Haven, CT 06473
      View Details
    • $1,325,000
      29,868 SF

      North Haven Industrial Investment Opportunity

      Industrial property in North Haven, CT, totaling approximately 29,868 SF.
      59 Old Broadway East, North Haven, CT 06473
      View Details
    • Contact for pricing
      1,280 SF

      First Floor Office Space Available

      1,280 SF office space with excellent highway access.
      282 State Street, North Haven, CT 06473
      View Details
    • $2,199,000
      9,552 SF

      North Haven Retail and Motel

      Retail and motel on 1.38 acres near I-91.
      630 Washington Ave, North Haven, CT
      View Details

    FAQs

    What type of property is this?
    Industrial land - 20.40 acres of industrial land in North Haven, CT.
    Where is this industrial land located?
    The property is located at 71 Leonardo Drive North Haven, CT.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: 20.40 Acres of INDUSTRIAL LAND with Flexible IL80 Zoning allowing Many Potential Uses.; High VISIBILITY from I‑91 with on‑building signage allowed for brand recognition.; Less than 9 miles to the I‑95 interchange in New Haven.
    (203) 230-1077
    We can help!
    Listing Contact
    Jed P. Backus
    Jed P. Backus
    Real Estate License ID: REB.0756620
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!