ADA-Compliant Office
For Sale
Contact for pricing
655 Saw Mill Rd, West Haven, CT 06516
Commercial condominium with ADA-compliant design, parking, and convenient connections to Route 1 and I-95.
Property Size1,301 SF
Price / SF$176.71
Days on Market22
Property Features for 655 Saw Mill Rd
General Information
Standard status
Active
Size
1,301 SF
Property subtype
OFFICE
Additional Details
Highway Access
Yes
Listing Agency:
Pearce Real Estate
(203) 641-5888
Listed By:
John Bergin
(203) 641-5888
Source:
Moodyscre
Added: Aug 11
Changed: Aug 31
Last Checked: Aug 31 at 8:10PM
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 Pearce Real Estate
Investment Insights
Based on property information with market context.
This 1301 SF commercial condominium is located within an ADA-compliant building and is suited to medical or other professional office use. The offering includes plentiful parking and is scheduled to be available September 1.
The property is positioned on Saw Mill Road in West Haven, with access to Boston Post Road (Route 1) and I-95 at Exit 42 via Saw Mill Road. Its office-oriented configuration provides a practical setting for professional operations requiring regional highway access.
The property is positioned on Saw Mill Road in West Haven, with access to Boston Post Road (Route 1) and I-95 at Exit 42 via Saw Mill Road. Its office-oriented configuration provides a practical setting for professional operations requiring regional highway access.
Key Highlights
- 1301 SF commercial condominium
- ADA‑compliant building
- Suitable for medical or other professional office uses
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
$19,732
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
8.58%
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%
$394,640
$394.6K
Cap Rate 7%
$281,886
$281.9K
Cap Rate 9%
$219,244
$219.2K
Market Conditions
NOI Build-Up for 1,301 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
$34.3K $26.40/SF
− Vacancy
−$8.0K −$6.18/SF
EGI
$26.3K $20.22/SF
− OpEx
−$6.6K −$5.06/SF
NOI
$19.7K $15.17/SF
Area
New Haven, CT
Vacancy
23.40%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$394,640
Cap Rate 7%
$281,886
Cap Rate 9%
$219,244
Alternative Uses
Best Use
Office B
$281.9K
$246.7K – $328.9K
NOI $19,732 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$418.5K
$366.2K – $488.3K
NOI $29,295 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
420
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 Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Commercial condominium with ADA-compliant design, parking, and convenient connections to Route 1 and I-95.
Where is this office units located?
The property is located at 655 Saw Mill Rd West Haven, CT.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: 1301 SF commercial condominium; ADA‑compliant building; Suitable for medical or other professional office uses
