170 Wood St West Haven, CT 06516

Property Details for 170 Wood St

Year built

1900

Lot size

0.30 lot acres

Property size

7,986 SF

Property type

Distribution centers

Property subtype

Fulfillment centers

Description

This exceptional redevelopment opportunity presents a unique chance to acquire a 7,986 square foot mixed-use property located at 170 Wood Street in West Haven, Connecticut. The property, built in 1900, is a two-story Class C building currently vacant and offering significant upside potential. The existing structure comprises approximately 3,230 square feet of warehouse space and 4,756 square feet of residential space requiring complete rehabilitation. Currently zoned R3, the property allows for conversion into a multi-family dwelling, potentially yielding one two-bedroom unit, two one-bedroom units, and one studio apartment, according to the zoning department. However, thorough due diligence is recommended to verify all permitted uses. The 0.3-acre lot features 12-foot ceilings in the warehouse area. The property is listed at $699,900, with a pro-forma net operating income (NOI) of $85,346 and a pro-forma capitalization rate of 12.19%. This presents a compelling investment opportunity for those seeking a value-add project in a desirable location. The property's size, zoning, and potential for increased NOI make it an attractive prospect for experienced investors. Further investigation into the property's potential is strongly encouraged.