100 Shr Dr East Haven, CT 06512-4691
- Office buildings
- 48,171 SF
- 3.74 lot acres
Current Use by Public Records
- DC TRAINING, LLC / Personal Trainer / Gym
- CTMA Wealth Management / Financial Planner
- Lester USA / Non-Profit Organization
- ROLACOL® / Engineering Consultant
- Talopt / Business Management Consultant
Property Details for 100 Shr Dr
- Year built
- 1987
- Construction
- CONCRETE
- Lot size
- 3.74 lot acres
- Property size
- 48,171 SF
- Zone code
- PDD
- Property type
- Office buildings
- APN
- EHAV M:060 B:0412 L:002
- APU
- EHAVM060B0412L002
Description
This exceptional Class A executive office building, located at 100 S Shore Dr, East Haven, CT 06512, presents a compelling investment opportunity. The property boasts 48,171 square feet of net rentable space across two stories within a single building on a 3.74-acre lot. Currently 90% occupied with five tenants, the building offers a strong, stable income stream with a current cap rate of 9.68% and a pro-forma cap rate of 10.00%. The substantial NOI is $435,721, projected to increase to $450,000. Built in 1987, this property features a striking glass and granite foyer and ample parking with 140 spaces. The permitted zoning is PDD. The asking price is $4,500,000, translating to a price per square foot of $93.42. Lease terms are modified, with rent bumps included and lease options available. The building is conveniently located near the airport, major highways, Yale University, and downtown New Haven, offering unparalleled access and visibility. Approximately 4,700 square feet of first-floor space is currently available. The property's strong tenant base and prime location make it an ideal investment for discerning buyers. The occupancy date is May 31, 2024. The building consists of six units.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,920,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,820,000
- 6.5%
- $1,730,000
- 7%
- $1,775,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,595,000
- Geo Method
- $2,110,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,090,000
- Retail
- $1,610,000
- Mixed-Use
- $1,790,000
- Hospitality
- $1,795,000
- Educational
- $1,625,000
- Residential Income
- $1,895,000
- Energy
- $1,835,000
- Income-Based Land
- $1,590,000
- Food Service
- $1,645,000
Location Insight
- Map
- Local Demand
- City
- East Haven
- County
- New Haven
- State
- Connecticut
- Longitude
- -72.878
- Latitude
- 41.248
- CBSA code
- 35300
- CBSA name
- NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA
