Downtown Milford Investment
105-111 NE Front Street Milford, DE 19963
For Sale
$1,990,000
Fully-tenanted professional office space in Milford, Delaware.
Property Size10,712 SF
Price / SF$185.77
Days on Market151
Property Features for 105-111 NE Front Street
General Information
- Standard status
- Active
- Size
- 10,712 SF
- Property subtype
- Office
Listing Agency:
NAI Coastal
(443) 523-4539
Listed By:
Chris Davis · License #5007104
(443) 523-4539
Source:
Naiglobal
Added: Feb 26
Changed: Jul 10
Last Checked: Jul 25 at 4:13AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Coastal
Investment Insights
Based on property information with market context.
This well-maintained and recently renovated investment property is located in downtown Milford, Delaware. The property features 10,712 square feet of fully-tenanted professional office space. An additional 2,512 square feet of allocated expansion space is available. The property is within the Central Business District and in close proximity to Route 13. The property generates an annual income of approximately $180,000 at NNN terms, offering investment and income potential.
Key Highlights
- Annual lease income of +\/- $180,000 at NNN terms
- 10,712 SF of fully‑tenanted professional office space
- Additional +\/- 2512 SF of allocated expansion space (all NNN paid)
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $275.1k | $25.68 |
| − Vacancy | −$50.9k | −$4.75 |
| EGI | $224.2k | $20.93 |
| − OpEx | −$56.0k | −$5.23 |
| NOI | $168.1k | $15.70 |
10,712 SF · lease $25.68/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.40M
$2.10M – $2.80M
NOI $168,145 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.94M
$2.58M – $3.43M
NOI $206,056 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Fully-tenanted professional office space in Milford, Delaware.
Where is this office building located?
The property is located at 105-111 NE Front Street Milford, DE.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Annual lease income of +\/- $180,000 at NNN terms; **10,712 SF of fully‑tenanted professional office space**; Additional +\/- 2512 SF of allocated expansion space (all NNN paid)
