150 Roosevelt Dr 150,000 SF 50% Leased Industrial Building Derby, CT 06418 $9,336,264 CAD ($62.24 CAD/SF) 10% Cap Rate

Elevated 20ft + above Housatonic River, 15-minute drive from Yale University and 500 yards from Yale’s boat club, lies this heavy duty, two-story complex formerly with 300 + employees during its peak back in 1990’s.
After more than 8 years of clean up and renovation that includes replacement of over 40,000 square feet of roof to protect its heavy-duty building structures from leaks, demolition of some old structures to open for more parking spaces, and additions of multiple solar systems and energy storage battery banks to energize the buildings without relying on city power, this factory-converted warehouse that is self-sufficient and income generating is finally available for sale.
It’s in a great location. Walking just 5 minutes, you reach City Hall of Derby, where you get all your official services expectedly and efficiently from a small government without bureaucrats like you could experience often from a big government. Across the river is City of Shelton, rated one of the best cities to live in Connecticut several years in a row. Many newly developed apartments are bought and filled up by residents quickly after constructions are finished.
Within 5-minute drive, you have all the big box stores and countless small mom-and-pa shops. Best of all, just walk out of the warehouse and you can easily grab your lunch from 3 restaurants of our favorites and get back to your work in no time.
High-traffic route 34 is right in front getting average 30,000 cars passing by the 300ft+ frontage of the property. On Route 34 leading to and beyond this property, many construction projects, including expansion of roads, construction of riverside walkways, new hotel construction, beautification of rivers and parks, are completed, funded by variety of governmental and private entities. New residential buildings are on the rise. Interstate highway 95 is 10 minutes away. New York City is about 60 minutes away, enabling up to 3 rounds of pickups and/or deliveries to and from within one day.
The current owner has leased out about half of its space, at discounted rates, to just only a few reliable tenants, on year to year tenancy. Rental income is nice and stable and still has a lot of room for growth.
This is an investment or owner user property for people with vision, or for entrepreneurs who can use part of it and lease the rest for rental income. Local government is highly efficient and flexible, willing to help and accommodate, making this potentially suitable for most uses: it could be a great place for logistic, distribution, contractors’ workshops, manufacturing, RV parking, vehicle or equipment storage, overseas warehousing (overseas manufacturers storing their products close to US market for timely deliveries) , or Amazon FBA or overflow storage (Google Amazon’s storage fees and you will know it makes a lot of sense for vendors to store their merchandises here instead). There is great potential for Alibaba, Temu, or car dealerships to acquire it as a logistic terminal, or for self-storage companies to convert it to equitable facilities. If preferred, the new owner can also easily apply for permit to convert this into a residential complex, to take advantage of its waterfront location.