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27838856
27838857

182 Mill St, East Haven, CT 06512

JS
AZ 691768000
Matthews
EM
AZ License No. SA686808000 CA License No. 01915939
Matthews
Listed by Matthews
$2,100,000
224 days on market
Updated 17 days ago

SiteOne Landscape Supply

Details
Property Type Industrial
Sub Type Distribution, Warehouse (+1)
Square Footage 13,550
Cap Rate 5.78%
NOI $121,306
Occupancy 47%
Tenancy Single
Brand/Tenant United Rentals, SiteOne (+15)
Lease Type NN
Lease Term 10
Lease Expiration 12/18/2026
Remaining Term 0.5
Rent Bumps Yes
Lease Options One, 10-Year Option
Price per SqFt $155
Year Built 1950, 1987
Buildings 2
Stories 2
Acreage 5.690
Zoning LI-3
Investment Type Value Add
Tenant Credit Corporate Guarantee
Lease Commencement 12/19/2016
Occupancy Date 12/19/2016

5.69 AC IOS | Value-Add | 2.5% Annual Increases

Investment highlights

  • Strong Corporate Guarantee: Siteone Landscape Supply (NYSE: SITE| S&P: “BB”) is the largest and only national wholesale distributor of landscaping products in the U.S. and Canada, operating 680+ locations and generating over $4.5 billion in annual revenue in 2024.

  • Value-Add Opportunity: The property features two buildings totaling ±13,550 sf on 5.69 AC. SiteOne occupies approximately 6,350 SF (47%), leaving ±7,200 SF of warehouse space available for lease. this vacancy offers investors a clear path to attract an additional tenant and enhance NOI growth.

  • Strategic Location: Positioned in East Haven, CT, the property is less than five miles from downtown new haven and just minutes from I-95, providing direct access to New York city and Boston. The area benefits from a strong labor pool and proximity to yale university, the port of new haven, and tweed new haven airport, establishing east haven as a strategic hub for industrial users seeking connectivity throughout southern New England.

  • Industrial NN Lease: Tenant is responsible for CAM, taxes and property insurance, leaving the Landlord with minimal obligations.

  • 2.5% Annual Rent Increases: The lease includes 2.5% annual escalations during both the initial term and renewal options, ensuring predictable income growth and a natural hedge against inflation.

Listing Contacts

JS
AZ 691768000
Matthews
EM
AZ License No. SA686808000 CA License No. 01915939
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$121,306.00
$10,108.83/mo

Valuation Metrics

0
DSCR
5.78%
Cap Rate
5.78%
ROI

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Additional Information

Name
Kyle Matthews
License
REB.0790986 (CT)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
866.889.0550
Title
Broker of Record
Brokerage Address
1600 West End, Ste. 1500 Nashville, TN 37203
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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