Versatile Industrial Property with Rail
For Sale
$6,000,000
315 Morgan Ln, West Haven, CT 06516
Industrial complex with rail siding, multiple buildings, and storage tanks.
Property Size54,448 SF
Price / SF$110.20
Days on Market135
Property Features for 315 Morgan Ln
General Information
Standard status
Active
Size
54,448 SF
Total Parking Spaces
70
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$64,308
Building Details
Year Built
1968
Listing Agency:
Rupwani Associates
(413) 333-7776
Listed By:
Rupi Rupwani
(203) 577-8346
Source:
Ma-cthomes
Added: Apr 24
Changed: Aug 23
Last Checked: Sep 4 at 1:51AM
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 Rupwani Associates
Investment Insights
Based on property information with market context.
This industrial property features a range of structures, including two office buildings, a heavy truck service garage equipped with a lift, and a six-bay garage. A large warehouse and an open storage shed provide ample space for various operations. The site includes a railroad siding, enhancing logistical capabilities. Fuel storage is accommodated by a 3,000-gallon gasoline tank and a 10,000-gallon diesel tank, both above ground. The location offers potential for diverse uses such as light industry, distribution, and affordable housing. The property provides convenient access to I-95, facilitating transportation to both the north and south.
Key Highlights
- Rail road siding on the property
- Heavy truck service garage with lift and 6 bay garage
- Large warehouse
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$521,394
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,427,880
$10.4M
Cap Rate 7%
$7,448,486
$7.4M
Cap Rate 9%
$5,793,267
$5.8M
Market Conditions
NOI Build-Up for 54,448 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$784.1K $14.40/SF
− Vacancy
−$39.2K −$0.72/SF
EGI
$744.8K $13.68/SF
− OpEx
−$223.5K −$4.10/SF
NOI
$521.4K $9.58/SF
Area
New Haven, CT
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$10,427,880
Cap Rate 7%
$7,448,486
Cap Rate 9%
$5,793,267
Alternative Uses
Best Use
Warehouse
$9.04M
$7.91M – $10.55M
NOI $633,121 @ 7.0% cap · market cap 10.55%
Second Best
Industrial
$7.45M
$6.52M – $8.69M
NOI $521,394 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$17.51M
$15.33M – $20.43M
NOI $1,226,021 @ 7.0% cap · market cap 20.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Truck terminal - Industrial complex with rail siding, multiple buildings, and storage tanks.
Where is this truck terminal located?
The property is located at 315 Morgan Ln West Haven, CT.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Rail road siding on the property; Heavy truck service garage with lift and 6 bay garage; Large warehouse
