487 Saw Mill RdWest Haven, CT 06516

Property Details for 487 Saw Mill Rd

Year built

1979

Construction

FRAME

Lot size

1.15 AC

Property size (Sq ft)

5,462 SF

Zone code

CD

Property type

Other commercial real estate

Property subtype

Showrooms

APN

WHAV M:0033 B:0002 L:0000

APU

WHAVM0033B0002L0000

Description

This exceptional investment opportunity presents a fee-simple ownership of a brand-new, 2,702 square-foot Chick-fil-A restaurant in West Haven, Connecticut. Located at 487 Saw Mill Road, this single-tenant property boasts a prime location directly off Interstate 95's exit 42, ensuring high visibility and accessibility. The property sits on a 1.15-acre lot and features a double drive-thru. The absolute NNN ground lease with Chick-fil-A commenced December 1st, 2024, and extends for 20 years, with eight 5-year renewal options. Rent increases by 10% every five years, providing a strong hedge against inflation. The property benefits from a corporate guarantee and enjoys 100% occupancy, generating a Net Operating Income (NOI) of $220,000 and a 4.00% cap rate. The surrounding area is densely populated with a high average household income and features numerous national retailers and restaurants, a train station, hospitals, and several colleges and universities, creating a robust customer base. With over 26,300 vehicles passing daily on Saw Mill Road and over 142,100 on I-95, this Chick-fil-A enjoys exceptional traffic counts and prominent signage. This is a truly passive investment opportunity with a strong, nationally recognized tenant and significant long-term growth potential. The building was constructed in 2025.

• CAP approach

  CAP return

  Valuation

  6%

  $1,327,457

  6.5%

  $1,225,345

  7%

  $1,137,820

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,798,436

  Geo Method

  $1,798,436

• Alternative Use

  Use

  Valuation

  Residential

  $1,033,624

  Hospitality

  $946,794

  Educational

  $787,722

  Medical

  $814,812

  Retail

  $1,225,345

Location Insight

City

West Haven

County

New Haven

State

Connecticut

Latitude

41.2713

Longitude

-72.9744

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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