100 Shore DrEast Haven, CT 06512

Property Details for 100 Shore Dr

Year built

1987

Construction

CONCRETE

Lot size

3.74 AC

Property size (Sq ft)

48,171 SF

Zone code

PDD

Property type

Office properties

Property subtype

Office buildings

APN

EHAV M:060 B:0412 L:002

APU

EHAVM060B0412L002

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $7,964,105

  6.5%

  $7,351,482

  7%

  $6,826,376

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,294,023

  Geo Method

  $6,294,023

• Alternative Use

  Use

  Valuation

  Residential

  $9,115,837

  Hospitality

  $8,350,058

  Educational

  $6,947,150

  Medical

  $7,186,074

  Retail

  $10,806,678

Location Insight

City

East Haven

County

New Haven

State

Connecticut

Latitude

41.248

Longitude

-72.878

CBSA code

35300

CBSA name

NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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