260-264 Quarry Rd - Light Manufacturing FOR SALE


Milford, CT 06460
$11,250,000 USD
203-997-0164
260-264 Quarry Rd, Milford, CT for Sale
$11,250,000 USD
Light Manufacturing - FOR SALE
1/32
null | 6.06% Cap Rate

260-264 Quarry Rd
Milford, CT 06460


HIGHLIGHTS

  • 3.1% YOY rent growth projected over the next 5 years
  • All tenants feature annual rental escalations of 2.5%-4%
  • Features both loadings docks and drive-in bays
  • Highly Desirable Asset Type.
  • 3.3 miles to Milford Parkway Connector (to Route 15)

OVERVIEW

Quarry Road Business Park consists of two buildings situated on 7.77 acres of land at the corner of Quarry Road and Heenan Drive. The one- story buildings are easily divisible and currently configured for 19 tenants ranging in size from1,600 SF to 9,832 SF. Identical in size and layout, the buildings mirror one another with the loading access in between. The property features 20 loading docks and 18 drive-in doors. Quarry Road Business Park is in a prime location suitable for a variety of light industrial, office, and flex uses. Quarry Road Business Park tenants benefit from easy access to highways, railways, and airports. The property is 0.7 miles to I-95, 3.2 miles to the Milford Parkway Connector to the Wilbur Cross Parkway / Merritt Parkway, 3.1 miles to the Milford Metro-North Train Station, 11.5 miles to Tweed New Haven Airport, and 11.7 miles to Sikorsky Memorial Airport in Stratford. Quarry Road Business Park offers investors the opportunity to acquire a highly desirable asset type with stable cash-flow and the opportunity to add value in the near term. Existing tenant leases feature annual increases, while in-place rents are well below market. A new owner will have the opportunity to renew or release space closer to market rents while benefitting from an extremely tight flex space market.

FOR SALE DETAILS

PRICE

$11,250,000 USD

PRICE/SF

$259 USD /SF

CAP RATE

6.06%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Quarry Road Business Park

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Light Manufacturing

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

UTILITIES

-

CLEAR CEILING HT

15 Ft

DOCKS

18

DRIVE INS

2

PARKING SPACES

275

LAND DETAILS

LAND ACRES

6.88

LAND SF

299,693

ZONING

ID

APN/PARCEL ID

MILF-000091-000807-000001

ASK ABOUT THIS PROPERTY

Edward JordanNortheast Private Client GroupMore Info
203-997-0164

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Edward JordanNortheast Private Client GroupMore Info
203-997-0164

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