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    Property profile & analytics

    370 State St North Haven, CT 06473-3114

    • Manufacturing properties
    • 36,086 SF
    • 2.42 lot acres
    For Lease
    View listing
    $8 SF/Yr
    Value Estimations
    $685,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1074798
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Accurate Adjusters / Insurance Agency
    • Hurley Group / Auto Wrecker
    • The Diaper Bank of Connecticut (Product Drop Off & Volunteers) / Social Services Organization
    • HH Perkins Co / Do-It-Yourself Shop / Home Goods Store

    Property Details for 370 State St

    Year built
    1950
    Construction
    STEEL FRAME
    Lot size
    2.42 lot acres
    Property size
    36,086 SF
    Zone code
    CB40
    Property type
    Manufacturing properties
    APN
    NRHV M:034 L:100
    APU
    NRHVM034L100

    Description

    This exceptional 36,231-square-foot industrial flex building, situated on a 2.42-acre lot in North Haven, Connecticut, offers a significant leasing opportunity. Currently, 35,125 square feet are available, providing ample space for a variety of business needs. The single-story building, constructed in 1950, boasts a generous 11-foot ceiling height, ideal for various industrial and flex uses. The property features two dock-high doors for efficient loading and unloading, and substantial power is available with 800-amp service. The flexible layout allows for the space to be divided or combined to suit specific tenant requirements. The building is zoned CB40 and its APN is 2011108. This prime location on State Street (Route 5) provides easy access to major transportation arteries, including I-91 and the Parkway (Route 15), ensuring convenient commutes and efficient logistics. The property is located in New Haven County, Connecticut, with the address being 370 State Street, North Haven, CT 06473-3114. This presents a rare opportunity to secure a substantial industrial space in a highly desirable location. The building's size, features, and strategic location make it an ideal choice for businesses seeking a functional and accessible workspace.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $685,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    North Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8879
    Latitude
    41.3681
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $26,117
    $231,000
    $568,910
    $799,910
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      126 Bailey Rd

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    • Value Estimation by Request
      2,025 SF

      222 Elm Street Ext

      Distribution properties • 2,025 SF
      222 Elm Street Ext, North Haven, CT 06473
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    • Value Estimation
      $295,000
      7,500 SF

      376 State St

      MANUFACTURING (LIGHT) • 7,500 SF
      376 State St, North Haven, CT 06473-3114
      View Details
    • Value Estimation
      $515,000
      23,600 SF

      6 Corporate Dr

      MANUFACTURING (LIGHT) • 23,600 SF
      6 Corporate Dr, North Haven, CT 06473-3254
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    • Value Estimation
      $760,000
      61,905 SF

      341 State St

      MANUFACTURING (LIGHT) • 61,905 SF
      341 State St, North Haven, CT 06473-3112
      View Details
    • Value Estimation
      $675,000
      187,910 SF

      100 United Dr

      MANUFACTURING (LIGHT) • 187,910 SF
      100 United Dr, North Haven, CT 06473-3218
      View Details

    Similar Nearby for Sale

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      Prime Industrial Land For Sale

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      Industrial Land with I-91 Visibility

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    Similar Nearby for Lease

    • $4 SF/Yr
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      North Haven Industrial Warehouse Space

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    • $8 SF/Yr
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      State Street Industrial Flex Space

      North Haven, CT: 35,125 SF Available
      370 State St, North Haven, CT 06473-3114
      View Details
    • $1.25 SF/Yr

      Industrial Warehouse with Outdoor Storage

      15,000 SF warehouse with 2 acres for storage.
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    • $2,000 /Mo
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      1200 SF Warehouse Space Available

      Warehouse space with new epoxy floor, high ceilings, ample parking.
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    • $7 SF/Yr
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      Industrial Warehouse Space Available

      31,000 SF industrial space for lease with highway access.
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    • $8,400,000
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      North Haven Industrial Facility

      65,883 SF industrial facility with office space for lease.
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      View Details
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    North Haven, CT 06473-3114
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    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
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