1083 Orange AveWest Haven, CT 06516

Property Details for 1083 Orange Ave

Lot size

0.36 AC

Property size (Sq ft)

1,408 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

West Haven

County

New Haven

State

Connecticut

Latitude

41.2827

Longitude

-72.9812

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