Freestanding Retail
40 S Main St Milford, MA 01757
For Sale
$489,000
Steel I-beam retail building with showroom-ready ceilings, parking, and public water and sewer connections.
Property Size1,792 SF
Price / SF$272.88
Days on Market49
Property Features for 40 S Main St
General Information
- Standard status
- Active
- Size
- 1,792 SF
Building Details
- Year Built
- 1952
Listing Agency:
Keller Williams Pinnacle Central
Listed By:
The Elevate Group
Source:
413realestate
Added: Jun 5
Changed: Jul 10
Last Checked: Jul 23 at 3:31AM
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 Keller Williams Pinnacle Central
Investment Insights
Based on property information with market context.
This freestanding retail building was built in 1952 and features steel I-beam construction with 12-foot ceilings. The offering includes approximately 1,792 square feet of versatile interior space suited to a range of uses, including a showroom, professional office, or boutique. The property has a paved driveway and parking designed to support convenient customer and tenant access.
Located in the heart of Milford’s downtown community at 40 S Main St, the building is positioned for visibility and practical day-to-day accessibility. Public remarks note access to RT 16 and public transportation, helping support retail and office activity. The building is connected to public water and sewer utilities.
This asset may fit owners seeking an established, centrally located storefront with adaptable interior layout and dedicated parking. The property is described as legal non-conforming, which is an item for buyers to review as part of their use and development planning. With a proven commercial history connected to a floor covering operation for over 50 years, the building offers a commercial setting that can be repurposed for a new concept within a downtown business district.
Located in the heart of Milford’s downtown community at 40 S Main St, the building is positioned for visibility and practical day-to-day accessibility. Public remarks note access to RT 16 and public transportation, helping support retail and office activity. The building is connected to public water and sewer utilities.
This asset may fit owners seeking an established, centrally located storefront with adaptable interior layout and dedicated parking. The property is described as legal non-conforming, which is an item for buyers to review as part of their use and development planning. With a proven commercial history connected to a floor covering operation for over 50 years, the building offers a commercial setting that can be repurposed for a new concept within a downtown business district.
Key Highlights
- Free‑standing retail building built in 1952 with steel I‑beam construction in downtown Milford
- 1,792 SF versatile space with 12‑foot ceilings, suited for a showroom, professional office, or boutique
- Paved driveway with ample parking on‑site
Financial Insights For Retail
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 | $38.7k | $21.60 |
| − Vacancy | −$852 | −$0.48 |
| EGI | $37.9k | $21.12 |
| − OpEx | −$11.4k | −$6.34 |
| NOI | $26.5k | $14.79 |
1,792 SF · lease $21.60/SF/yr · vacancy 2.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$378.6K
$331.2K – $441.7K
NOI $26,499 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$611.9K
$535.5K – $713.9K
NOI $42,836 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Car-Leo Floor Covering
Carpet & Flooring Store
FAQs
What type of property is this?
Storefront property - Steel I-beam retail building with showroom-ready ceilings, parking, and public water and sewer connections.
Where is this storefront property located?
The property is located at 40 S Main St Milford, MA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Free‑standing retail building built in 1952 with steel I‑beam construction in downtown Milford; 1,792 SF versatile space with 12‑foot ceilings, suited for a showroom, professional office, or boutique; Paved driveway with ample parking on‑site
