Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Redevelopment Opportunity in Prime Location Title is generated by Realmo AI

    978 Orange Avenue, West Haven, CT 06516

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,900,000

    56,329 sq ft light industrial building on 2 acres.

    Type:Commercial/Industrial
    Property size:
    30,402 SF
    Lot size:
    0.87 Acres
    Price / SF:
    $128/SF
    Added:
    Mar 16, 2026
    Days on Market:
    67
    Last Refresh:
    Apr 6 at 1:48 am

    Property Features for 978 Orange Avenue

    General Information

    Standard status
    Active
    Size
    30,402 SF
    Lot size
    0.87 Acres
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1946

    We can help!

    Listing Contact
    Fred A. Messore

    Listing agent Fred A. Messore License #REB.0794161

    Listing office Colonial Properties Inc

    Listing date Mar 16, 2026

    Source Exitrealty

    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 Colonial Properties Inc

    HighLights

    • Prime redevelopment opportunity thanks to its high‑visibility location.
    • Excellent accessibility via Boston Post Road and I‑95.
    • Large 56,329 sq. ft. light industrial building on approximately 2 acres.
    • Suitable for redevelopment or demolition.
    • Potential for diverse commercial or industrial uses.
    • Low 2024 property taxes of $47,392.

    Overview

    This light industrial building offers approximately 56,329 square feet of space on a site of about 2 acres. It is positioned in a high-visibility location, presenting a redevelopment opportunity. The site is suitable for redeveloping the existing structure or for demolition to take advantage of its location. The property's proximity to Boston Post Road and I-95 enhances its visibility and accessibility, making it an option for various commercial or industrial uses. The property provides potential for maximizing its value and adapting it to meet market demands. The total yearly taxes are $47,392, with $7,982 for 2024-958 and $39,410 for 978. The property size is 30,402 square feet.
    Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    West Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9787323
    Latitude
    41.2839933

    Nearby Similar for Sale

    • $595,000
      2,384 SF

      Mixed-Use Investment Opportunity, West Haven

      Two-unit commercial building with income potential in high-traffic area.
      761 Campbell Avenue, West Haven, CT 06516
      View Details
    • $659,000
      3,410 SF

      West Haven Multi-Family Investment

      Well-maintained, fully-rented three-family home with garage and strong income.
      246 Elm Street, West Haven, CT 06516
      View Details
    • $239,000
      2,000 SF

      Versatile Garage/Flex Space Investment

      2,000+ sq. ft. flex space with conversion potential.
      468 Blohm Street, West Haven, CT 06516
      View Details
    • $375,000
      1,860 SF

      Well-Maintained West Haven Two-Family Home

      Two-family home in West Haven, ideal for owner-occupants or investors.
      102 Highland Street, West Haven, CT 06516
      View Details
    • $630,000
      2,016 SF

      Updated Four-Unit Multifamily Property

      Turnkey West Haven multifamily property with updated units and strong income.
      120 Canton Street, West Haven, CT 06516
      View Details
    • $499,900
      2,800 SF

      West Haven Multifamily Investment Opportunity

      Multifamily property with strong income potential in a prime location.
      36 Baggott Street, West Haven, CT 06516
      View Details
    • $750,000
      5,000 SF

      Versatile Mixed-Use Commercial Property

      Retail, office, or warehouse space on busy Route 1.
      703 Boston Post Rd, West Haven, CT 06516
      View Details
    • $925,000
      10,272 SF

      West Haven Medical/Professional Office Building

      Two-story office building in West Haven's Central Business District.
      385 Main St, West Haven, CT 06516
      View Details
    • $349,000
      1,602 SF

      West Haven Multifamily Investment Opportunity

      Two-unit property near UNH, ideal for investors or owner-occupants.
      86 Hinman Street, West Haven, CT 06516
      View Details
    • $405,000
      3,098 SF

      West Haven Multifamily Property

      Two-family home with hardwood floors and separate utilities.
      126 Richards Place, West Haven, CT 06516
      View Details
    • $439,900
      2,396 SF

      West Haven Income-Generating Duplex

      Income-generating West Haven duplex near beaches and highways.
      61 Hillside Street, West Haven, CT 06516
      View Details
    • $750,000
      4,848 SF

      Versatile Mixed-Use Property on Route 1

      High-visibility commercial property with retail, office, and warehouse potential.
      703 Boston Post Road, West Haven, CT 06516
      View Details

    FAQs

    What type of property is this?
    Specialty property - 56,329 sq ft light industrial building on 2 acres.
    Where is this specialty property located?
    The property is located at 978 Orange Avenue West Haven, CT.
    What is the asking price?
    The asking price for this property is $3,900,000.
    What are key features of this property?
    This property features: Prime redevelopment opportunity thanks to its high‑visibility location.; Excellent accessibility via Boston Post Road and I‑95.; Large 56,329 sq. ft. light industrial building on approximately 2 acres.
    (203) 795-8060
    We can help!
    Listing Contact
    Fred A. Messore
    Real Estate License ID: REB.0794161
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    978 Orange Avenue, West Haven, CT 06516
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!