For Sale
$1,333,333

1083 Orange AveWest Haven, CT 06516

15-Year NNN Lease, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
115
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.

Highlights

  • 15-year sale-leaseback with 10% rent increases every 5 years.
  • Building renovated December 2022, including new signage.
  • Nationally branded, absolute NNN property in the Northeast, midway between NYC and Hartford, CT.
  • High visibility corner location at Boston Post Road & Jaffrey Street.
  • High traffic count: ~21,000 VPD on Boston Post Road.
  • Within 1 mile of a new 200,000 SF Amazon distribution center.

Property Details for 1083 Orange Ave

Property type
Retail properties, Auto shops
Square Feet
1,408 SF
Year Renovated
2022
Buildings
1
Lot Size (sq. ft)
15,682 SF
Units
1

Location Insight

City
West Haven
County
New Haven
State
Connecticut
Latitude
41.282690786453
Longitude
-72.981205496344
1083 Orange Ave, West Haven, Connecticut

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1083 Orange Ave
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