±515k In-Place NOI | Value-Add Mixed Use Investment | West Haven, Connecticut

Investment Highlights

• ±45,000 SF mixed-use investment property located in West Haven, CT
• ±96% occupied by a mix of longstanding retail, office, and apartment tenants
• ±$515,000 In-Place NOI
• Substantial value-add potential: ALL tenants are currently paying well-below market rents
• On-site city owned parking lot featuring complimentary parking
• Subject property is located just 10-minutes from both Yale University and New Haven, CT
• ±250,000 people live within 5-miles of the subject property with average household income > $85,000/year

 

Property Overview

Friedman Real Estate in conjunction with RI Marketplace are pleased to offer for sale West Haven Plaza, located at 519-567 Campbell Ave, West Haven, CT (the “property”). West Haven Plaza makes up an entire city block and is currently ±96% occupied by a mix of retail, office, and apartment tenants. In-place NOI stands at ±$515,000 with all tenants currently paying below market rents. The existing rent roll shows an average term of occupancy of 15+ years, while some of the tenants are nearing their 20+ year anniversary of continuous operation at the property.

West Haven Plaza is strategically located in downtown West Haven, CT, located just minutes from Yale University, University of New Haven, the VA Connecticut Healthcare campus, and New Haven, CT.    

West Haven is a city located in New Haven County, Connecticut. It is situated on the shore of Long Island Sound and has a population of approximately 55,000 people. West Haven was originally settled in the 1640s and was incorporated as a city in 1961. The city is home to the University of New Haven and is located just a few miles from Yale University and downtown New Haven, which is a hub of culture and education in the region. West Haven is also home to several parks, including the Bradley Point Park and the Sandy Point Beach and Bird Sanctuary, which offer residents and visitors opportunities for recreation and relaxation.  

West Haven has a strong sense of community and is known for its diverse population, with residents from a variety of ethnic and racial backgrounds. The city has a rich history, having played a role in both the American Revolution and the Civil War. Today, West Haven is a vibrant and growing city that offers its residents a high quality of life, with excellent schools, a strong economy, and a variety of cultural and recreational opportunities.