Milton Medical Park Investment
611 Federal Street Milton, DE 19968
611 Federal Street, Milton, DE, 19968
$3,975,000
For Sale
$3,975,000
Fully leased medical office park with expansion potential in Milton, DE.
Property Size12,860 SF
Price / SF$309.10
Days on Market171
Property Features for 611 Federal Street
General Information
- Standard status
- Active
- Size
- 12,860 SF
- Property subtype
- Office
Building Details
- Year Built
- 2009
Listing Agency
SVN - Miller | Salisbury
(410) 251-6408
Listed by
Wesley Cox, CCIM · License #574198
(410) 251-6408
Source
Svnmiller
Added: Jan 27 Checked: Jul 17 at 3:49 am
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 SVN - Miller | Salisbury
Investment Insights
Based on property information with market context.
Milton Medical Park is a fully leased medical office campus located in Milton, DE. The park consists of two existing buildings totaling 12,860 square feet and offers multi-tenant diversification. Building #1 comprises 6,250 square feet, and Building #2 is 6,610 square feet; both are fully leased to long-standing medical office tenants. The property provides approximately 80 on-site parking spaces, multiple monument signs, and accessibility. The park includes a pad site for a future approximately 3,264 square foot office building, providing an opportunity for expansion in a growing market. Sussex County is one of the fastest-growing markets on the East Coast, and with zoning and development constraints allowing for limited commercial construction to service that growth, there is long-term value in place. Strategically located near downtown Milton and Route 1, and with over 2,000 new residential homes under construction or in planning, Milton Medical Park combines visibility, accessibility, and long-term growth potential. Located at 611 Federal Street, this investment property sits in the heart of Milton, Delaware’s walkable downtown district. Federal Street is a core downtown corridor, placing the property within immediate proximity to Main Street businesses, local restaurants, breweries, boutique retailers, municipal offices, and community gathering spots. The location benefits from local traffic, an established residential base with over 2,000 new residential lots in planning, and year-round demand. Its position within downtown Milton creates a live-work-play environment that supports long-term occupancy stability. The location is also positioned minutes from Route 1, providing access to Lewes, Rehoboth Beach, and the greater coastal Delaware region, while retaining Milton’s historic charm. Continued public and private investment throughout downtown Milton enhances the long-term upside of this location.
Key Highlights
- Fully leased medical office park with long‑standing tenants, providing immediate income.
- Located in Sussex County, one of the fastest‑growing markets on the East Coast, ensuring long‑term value.
- Includes a pad site for a future +/-3,264 SF office building, offering expansion potential.
Local 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 | $330.2k | $25.68 |
| − Vacancy | −$61.1k | −$4.75 |
| EGI | $269.1k | $20.93 |
| − OpEx | −$67.3k | −$5.23 |
| NOI | $201.9k | $15.70 |
12,860 SF · lease $25.68/SF/yr · vacancy 18.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.88M
$2.52M – $3.36M
NOI $201,862 @ 7.0% cap · market cap 5.08%
Second Best
Healthcare Medical
$2.59M
$2.27M – $3.02M
NOI $181,480 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M
NOI $247,375 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Ocean Medical Imaging ...
Medical Clinic
Ocean Medical Imaging ...
Physician
Jonathan Patterson, MD
Physician
Urology Associates of Delaware
Medical Clinic
Melvin Morse
Pediatrician
Similar For Sale Nearby
FAQs
What type of property is this?
Medical Office Space - Fully leased medical office park with expansion potential in Milton, DE.
Where is this medical office space located?
The property is located at 611 Federal Street Milton, DE.
What is the asking price?
The asking price for this property is $3,975,000.
What are key features of this property?
This property features: Fully leased medical office park with long‑standing tenants, providing immediate income.; Located in Sussex County, one of the fastest‑growing markets on the East Coast, ensuring long‑term value.; Includes a pad site for a future +/-3,264 SF office building, offering expansion potential.