Freestanding Flex Industrial
For Sale
$500,000
275 Front Avenue, West Haven, CT 06516
Freestanding commercial building with a large bay and multiple overhead doors for automotive, service, and light industrial uses.
Property Size2,104 SF
Price / SF$237.64
Days on Market69
Property Features for 275 Front Avenue
General Information
Standard status
Active
Size
2,104 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
11 ft
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$6,537
Amenities
Flat Roof
Hot Water Heating
Level Lot
Rubber Roof
Building Details
Year Built
1945
Listing Agency:
KNG Realty LLC
(959) 225-5564
Listed By:
KENNETH GINSBERG
Source:
Corcoran
Added: Jun 1
Changed: Aug 8
Last Checked: Jun 4 at 2:31AM
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 KNG Realty LLC
Investment Insights
Based on property information with market context.
This freestanding 2,100 SF commercial building is set up for practical, bay-based operations. The large bay includes two 10x10 overhead doors, providing convenient vehicle and equipment access. Ceiling height is 11 feet clear to the ceiling, with 10 feet to the underside of the joist, plus an additional single garage area with a single 8-foot wide by 10.5-foot high door. Three overhead doors are included in total, supporting flexible loading and service workflows.
The property includes an extra lot that can be used for additional parking, which can be helpful for customers, crews, or fleet vehicles. The asset is positioned for businesses that benefit from on-site storage and straightforward drive-in access.
The configuration makes this building a strong fit for automotive, contractor, light industrial, service, fleet, storage, and other trade-related businesses. With multiple overhead door options and meaningful clearance for day-to-day operations, it offers a functional layout for tenants and buyers looking for a single-site base of operations rather than a shared or tightly constrained space.
The property includes an extra lot that can be used for additional parking, which can be helpful for customers, crews, or fleet vehicles. The asset is positioned for businesses that benefit from on-site storage and straightforward drive-in access.
The configuration makes this building a strong fit for automotive, contractor, light industrial, service, fleet, storage, and other trade-related businesses. With multiple overhead door options and meaningful clearance for day-to-day operations, it offers a functional layout for tenants and buyers looking for a single-site base of operations rather than a shared or tightly constrained space.
Key Highlights
- Freestanding 2,100 SF commercial building built in 1945
- Large bay with two 10x10 overhead doors
- 11 ft clear to ceiling in the main bay and 10.5 ft ceiling height over the garage
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
$24,465
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
4.89%
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%
$489,300
$489.3K
Cap Rate 7%
$349,500
$349.5K
Cap Rate 9%
$271,833
$271.8K
Market Conditions
NOI Build-Up for 2,104 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
$30.3K $14.40/SF
− Vacancy
−$1.5K −$0.72/SF
EGI
$28.8K $13.68/SF
− OpEx
−$4.3K −$2.05/SF
NOI
$24.5K $11.63/SF
Area
New Haven, CT
Vacancy
5.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$489,300
Cap Rate 7%
$349,500
Cap Rate 9%
$271,833
Alternative Uses
Best Use
Warehouse
$349.5K
$305.8K – $407.8K
NOI $24,465 @ 7.0% cap · market cap 4.89%
Second Best
Industrial
$287.8K
$251.9K – $335.8K
NOI $20,148 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$676.8K
$592.2K – $789.6K
NOI $47,376 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11 ft
Clear height
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,121
Businesses Nearby
Under-served
Demand for This Use
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
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- Burgerway Truck — 575 Columbus Ave, New Haven, CT 06519
Frequently Asked Questions
What type of property is this?
Flex space - Freestanding commercial building with a large bay and multiple overhead doors for automotive, service, and light industrial uses.
Where is this flex space located?
The property is located at 275 Front Avenue West Haven, CT.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Freestanding 2,100 SF commercial building built in 1945; Large bay with two 10x10 overhead doors; 11 ft clear to ceiling in the main bay and 10.5 ft ceiling height over the garage
