151 Washington Ave - Bank FOR SALE


North Haven, CT 06473
$2,944,000 USD
857-284-7971
151 Washington Ave, North Haven, CT for Sale
$2,944,000 USD
Bank - FOR SALE
1/11
null | 6.25% Cap Rate

151 Washington Ave
North Haven, CT 06473


HIGHLIGHTS

  • ESTABLISHED NORTHEAST LOCATION
  • HIGH BARRIER TO ENTRY MARKET WITH STRONG DEMOS
  • $113M+ DEPOSITS (FDIC 6/30/25)
  • 5-MILE POPULATION IS 111,900+
  • TRAFFIC @ 19,700 ADT
  • JUST 9 MILES FROM NEW HAVEN AND 30 MILES FROM HARTFORD

OVERVIEW

151 Washington Avenue features a 2020 new construction Citizens Bank prototype building consisting of approximately 2,302 SF with a drive-thru ATM that is ideally located on a +/- 0.39 acre parcel. This property is located in a well established market and one that Citizens specifically targeted to relocate to from their prior location, which was 0.2 miles south at 127 Washington Avenue. There are strong daily traffic counts of 19,700 ADT on Route 5/Washington Avenue which is one of the main retail corridors connecting the surrounding communities and sits just 0.2 miles from on/off ramps to Interstate 91 which has daily traffic counts exceeding 85,000+. The 5-mile population exceeds 106,000 and the average household income exceeds $140,500+ within 3 miles of the property. The township is within New Haven County - just 9 miles from New Haven, 30 miles from Hartford, 88 miles from New York and 128 miles from Boston. The nearest Citizens branches are located 5 miles west in Hamden, 6.7 miles south in East Haven, and 15.7 miles north in Middletown. This location will continue to service a large established trade area in a high barrier to entry northeast market. North Haven, CT presents the rare opportunity to own a northeast asset that was newly built in 2020 with a lease featuring attractive rent increases throughout the lease. The property is ideally positioned in an established and well travelled market with a long term lease and a corporate guaranty. North Haven, Connecticut is a highly desirable suburban community located in New Haven County within the Greater New Haven region. Positioned approximately 9 miles north of New Haven and 30 miles south of Hartford, the town benefits from strong regional connectivity and proximity to major employment centers. Given the strong demographic profile, North Haven provides a stable and affluent consumer base that supports a diverse mix of retail, service, and commercial uses. The town offers excellent accessibility via Interstate 91, which runs directly through North Haven and provides convenient connections to New Haven, Hartford, and the broader New England region. In addition, the nearby Merritt Parkway (Route 15) offers direct access to Fairfield County and the New York metropolitan area, making North Haven an attractive commuter location for both residents and businesses. North Haven also benefits from its proximity to major academic and employment institutions, including Quinnipiac University (enrollment of 9,200+), which operates a graduate campus within the town of North Haven, and Yale University located just minutes away in downtown New Haven. These institutions contribute to a highly educated workforce and generate consistent demand for housing, retail, and services throughout the area. The community features a strong economic base supported by industrial parks, regional employers, and continued investment in the surrounding Greater New Haven market. Combined with its strategic highway access, strong demographics, and high quality of life, North Haven remains an attractive location for families, businesses, and commercial investment.

FOR SALE DETAILS

PRICE

$2,944,000 USD

PRICE/SF

$1,279 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2020

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

IL-30

APN/PARCEL ID

NRHV-000073-000000-000016

ASK ABOUT THIS PROPERTY

Tim BulmanDistrict Real Estate AdivsorsMore Info
857-284-7971

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Tim BulmanDistrict Real Estate AdivsorsMore Info
857-284-7971

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.