For Sale
$4,500,000

100 Shore DrEast Haven, CT 06512

Class A Office, High Cap Rate, Excellent Location

Overview

Added:
Dec 11, 2024
Days on market:
114
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.

Highlights

  • $4,500,000 asking price for a Class A, 48,171 square foot office building.
  • 9.68% cap rate, with a pro-forma cap rate of 10.00%.
  • Located at 100 S Shore Dr, East Haven, CT 06512, on a 3.74-acre lot.
  • Features 140 parking spaces and is 90% occupied with five tenants, offering 4,700 square feet of available space.
  • Modified lease terms with rent bumps and lease options available.
  • The property includes six units in a two-story building, built in 1987, with a PDD zoning permit.

Property Details for 100 Shore Dr

Property type
Office properties
Square Feet
48,171 SF
Class
A
Year Built
1987
Buildings
1
Stories
2
Lot Size (sq. ft)
162,914 SF
Units
6

Location Insight

City
East Haven
County
New Haven
State
Connecticut
Latitude
41.248028917998
Longitude
-72.877360879834
100 Shore Dr, East Haven, Connecticut

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
100 Shore Dr
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message