Downtown Milford Investment
For Sale
$1,990,000
105-111 NE Front Street, Milford, DE 19963
Fully-tenanted professional office space in Milford, Delaware.
Property Size13,224 SF
Price / SF$185.77
Days on Market242
Property Features for 105-111 NE Front Street
General Information
Standard status
Active
Size
13,224 SF
Class
A
Property subtype
Office
Building Details
Building Size
13,224 SF
Listing Agency:
NAI Coastal - Salisbury
Listed By:
Chris Davis · License #302826
(443) 523-4539
Source:
Naicoastal
Added: Feb 26
Changed: Oct 12
Last Checked: Oct 24 at 2:25PM
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 - Salisbury
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$168,145
Cap Rate
8.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,362,900
$3.4M
Cap Rate 7%
$2,402,071
$2.4M
Cap Rate 9%
$1,868,278
$1.9M
Market Conditions
NOI Build-Up for 10,712 SF
Gross rent
$275.1K $25.68/SF
− Vacancy
−$50.9K −$4.75/SF
EGI
$224.2K $20.93/SF
− OpEx
−$56.0K −$5.23/SF
NOI
$168.1K $15.70/SF
Area
Sussex County, DE
Vacancy
18.50%
Lease Rate
$25.68 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,362,900
Cap Rate 7%
$2,402,071
Cap Rate 9%
$1,868,278
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 authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 19963, DE
20,827
Population
10,300
Households
2
Avg Household Size
43
Median Age
27%
College-Educated
90%
High-School Grad
105.1 sq mi
ZIP Area
198
Density / Sq Mi
$65,420
Median Household Income
$40,157
Median Earnings
$1,161
Median Rent
$291,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
Frequently Asked Questions
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)
