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 Market194
Property Features for 315 Morgan Ln
General Information
Standard status
Active
Size
54,448 SF
Property subtype
Commercial
Zoning
LM
Taxes and HOA fees
Annual Taxes
$64,308
Building Details
Year Built
1968
Listing Agency:
Rupwani Associates
(860) 564-8000
Listed By:
Rupi Rupwani · License #REB.0591570
(203) 577-8346
Source:
Spauldingrealty
Added: Apr 24
Changed: Oct 31
Last Checked: Nov 3 at 5:52AM
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
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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 / Yr
$521,394
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
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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
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Market
Vacancy Rate% for Industrial in Northeast region
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
