0 Quarry RdMilford, CT 06460

Property Details for 0 Quarry Rd

Year built

1989

Property size (Sq ft)

84,647 SF

Property type

Industrial properties

Property subtype

Other industrial properties

Description

This exceptional value-add opportunity presents a 84,647 square foot flex industrial portfolio situated on 7.77 acres in Milford, Connecticut. The property, comprised of two mirrored, one-story buildings, is ideally located at the corner of Quarry Road and Heenan Drive, offering easy access to major transportation arteries. Currently housing 19 tenants in units ranging from 1,600 to 9,832 square feet, the buildings boast 20 loading docks and 18 drive-in doors, catering to diverse light industrial, office, and flex uses. The property's strategic location provides convenient access to I-95 (0.7 miles), the Milford Parkway Connector (3.2 miles), Milford Metro-North Train Station (3.1 miles), Tweed New Haven Airport (11.5 miles), and Sikorsky Memorial Airport (11.7 miles). The asking price is $11,250,000, representing a compelling $130 per square foot and a 6.06% cap rate, with a pro-forma cap rate projected at 7.48%. Built in 1989, the property benefits from existing tenant leases with annual rent increases, presenting a significant opportunity to increase profitability by leveraging the current below-market rents and strong demand for flex space in this tight market. The permitted zoning is ID & CBDD. This investment offers a highly desirable asset type with stable cash flow and significant near-term value-add potential.

Location Insight

City

Milford

County

New Haven

State

Connecticut

Latitude

41.2424

Longitude

-73.0145

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