1083 Orange Ave West Haven, CT 06516
- Retail properties
- 1,408 SF
- 0.36 lot acres
Current Use by Public Records
- Take 5 Oil Change / Oil Change Service
Property Details for 1083 Orange Ave
- Lot size
- 0.36 lot acres
- Property size
- 1,408 SF
- Property type
- Retail properties
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 1,408 square foot Take 5 Oil Change located at 1083 Orange Ave, West Haven, CT 06516. The property boasts a 15-year sale-leaseback agreement with a highly reputable national tenant, featuring a 6.00% cap rate and a strong NOI of $80,000. The lease is a triple-net (NNN) lease, meaning the tenant is responsible for all operating expenses, minimizing landlord responsibilities. Built in 2022 and completely renovated that same year, including new signage, the building sits on a 0.36-acre lot with ample parking for 9 vehicles. The lease includes attractive 10% rent bumps every 5 years, providing significant long-term growth potential. This single-tenant property is strategically positioned in a high-traffic area on Boston Post Road, benefiting from approximately 21,000 vehicles per day. Its prime location is enhanced by proximity to major retailers such as Target, Best Buy, and several fast-food chains, as well as a newly developed Amazon distribution facility. The lease offers three, 5-year renewal options, further securing the investment's longevity. This rare opportunity to acquire a nationally branded, absolute NNN asset in the Northeast, situated conveniently between New York City and Hartford, CT, offers excellent visibility and signage from its corner location. The asking price is $1,333,333.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- West Haven
- County
- New Haven
- State
- Connecticut
- Longitude
- -72.9812
- Latitude
- 41.2827
