Medical Office Building with
For Sale
$525,000
128 Saltonstall Parkway, East Haven, CT 06512
Flexible medical and professional-use layout with ADA access, off-street parking, and basement storage.
Property Size1,897 SF
Price / SF$276.75
Days on Market183
Property Features for 128 Saltonstall Parkway
General Information
Standard status
Active
Size
1,897 SF
Property subtype
General Commercial
Site & Location
Road Access
Yes
Utilities to Site
Yes
Amenities
3
R-1
Building Details
Year Built
1940
Buildings
1
Building Size
1,897 SF
Listing Agency:
Alpha Capital Realty, LLC
(203) 980-6412
Listed By:
Justin Sudol · License #RES.0834009
(203) 980-6412
Source:
Xome
Added: Mar 1
Changed: Aug 30
Last Checked: Aug 30 at 6:15PM
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 Alpha Capital Realty, LLC
Investment Insights
Based on property information with market context.
Located at 128 Saltonstall Parkway, this 1,897-square-foot medical office building offers a 1.5-story configuration suited to medical and professional services. The property includes a flexible interior layout, an ADA-compliant ramp, off-street parking, and a full basement for storage. Capital improvements include a roof installed in 2016 and an updated HVAC system with a 2024 3-ton A/C compressor.
The building occupies the signalized intersection of Route 1 and Route 142, where the reported traffic count is approximately 18,400 vehicles per day. Building services include gas, city water, and sewer, supporting the existing commercial improvements.
The building occupies the signalized intersection of Route 1 and Route 142, where the reported traffic count is approximately 18,400 vehicles per day. Building services include gas, city water, and sewer, supporting the existing commercial improvements.
Key Highlights
- 1,897‑square‑foot medical office/commercial building
- 1.5‑story layout with full basement storage
- At signalized intersection of Route 1 and Route 142
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
$29,058
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
5.53%
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%
$581,160
$581.2K
Cap Rate 7%
$415,114
$415.1K
Cap Rate 9%
$322,867
$322.9K
Market Conditions
NOI Build-Up for 1,897 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
$52.4K $27.60/SF
− Vacancy
−$3.9K −$2.07/SF
EGI
$48.4K $25.53/SF
− OpEx
−$19.4K −$10.21/SF
NOI
$29.1K $15.32/SF
Area
New Haven, CT
Vacancy
7.50%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
40.00%
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%
$581,160
Cap Rate 7%
$415,114
Cap Rate 9%
$322,867
Alternative Uses
Best Use
Healthcare Medical
$415.1K
$363.2K – $484.3K
NOI $29,058 @ 7.0% cap · market cap 5.53%
Second Best
Office B
$411.0K
$359.6K – $479.5K
NOI $28,771 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$610.2K
$533.9K – $711.9K
NOI $42,715 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 06512, CT
29,457
Population
12,945
Households
2.3
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
10.6 sq mi
ZIP Area
2,779
Density / Sq Mi
$84,034
Median Household Income
$48,981
Median Earnings
$1,464
Median Rent
$265,200
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Dammando Massimo DVM — 222 Main St, East Haven, CT 06512
- Dr. Massimo Dammando — 47 Frontage Rd, East Haven, CT 06512
- Shore Haven Veterinary Hospital — 47 Frontage Rd, East Haven, CT 06512
Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible medical and professional-use layout with ADA access, off-street parking, and basement storage.
Where is this medical office space located?
The property is located at 128 Saltonstall Parkway East Haven, CT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,897‑square‑foot medical office/commercial building; 1.5‑story layout with full basement storage; At signalized intersection of Route 1 and Route 142
