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Milton Medical Park Investment Opportunity

611 Federal Street Milton, DE 19968

Claim this Listing
For Sale
$3,975,000

Fully leased medical office park with expansion potential in Milton, DE.

Type:Office
Property size:
12,860 SF
Price / SF:
$309/SF
Added:
Jan 27, 2026
Days on Market:
165
Last Refresh:
Apr 6 at 12:45 am

Property Features for 611 Federal Street

General Information

Standard status
Active
Size
12,860 SF
Property subtype
Office

Building Details

Year Built
2009

Listing office SVN - Miller | Salisbury

Listing date Jan 27, 2026

Source Svnmiller

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 (±1% cap)
NOI $201,862 @ 7.0% cap · market cap 5.08%
Second Best
Healthcare Medical
$2.59M
$2.27M – $3.02M (±1% cap)
NOI $181,480 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$3.53M
$3.09M – $4.12M (±1% cap)
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

Suggested Use

Building Supply Auto Repair Shop Hair Salon Parking Lot & Garage Law Firm Restaurant HVAC Service Garden Center Nail Salon Grocery & Convenience Store

Zoning and permitted uses should be independently verified with local authorities.

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.
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